Constellation Energy Corp. agreed to sell power from an Illinois nuclear plant to Meta Platforms Inc. as artificial intelligence sends power demand soaring.

Meta's (NASDAQ:META) deal to purchase more than 1,100 MW of nuclear power from Constellation Energy (NASDAQ:CEG) over the next 20 years likely will be priced at a cheaper rate than a similar agreement rival Microsoft (MSFT) entered last year,

Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook's parent company.The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant.