Meta enters the electricity trading market to support AI expansion and address power supply challenges

Meta Platforms Inc., led by Zuckerberg, is venturing into the complex field of electricity trading, betting that it can accelerate the construction of new power plants in the United States, which are crucial to its ambitions in artificial intelligence (AI). The company's global energy head, Urvi Parekh, stated that the company learned from investors and power plant developers that there were almost no buyers willing to sign the long-term power purchase agreements needed to drive investment in the early stages, prompting the company to enter the electricity trading market. By participating in electricity trading, Meta will gain the flexibility to sign more long-term contracts. (Bloomberg)