Constellation Energy was rising sharply after Meta Platforms signed an agreement to buy power generation of a Constellation nuclear plant in Illinois in a 20-year deal.Shares of clean-energy provider Constellation surged 12% in premarket trading.

Constellation Energy (NASDAQ:CEG) -3% in Wednesday's trading as Citi downgraded shares to Neutral from Buy, citing limited near-term upside following the stock’s recent rally and news of its power purchase agreement with Meta.

Facebook parent Meta announced an unprecedented deal with Constellation Energy, the largest American nuclear power plant operator, cementing Meta’s turn to turn to nuclear energy to power its energy intensive, generative artificial intelligence initiatives, and sending Constellation shares surging.