Amazon-backed X-energy files for $800M IPO amid nuclear revival
Original: Amazon-backed X-energy files to raise up to $800M in IPO
Why This Matters
First major nuclear startup IPO signals investor confidence in nuclear revival driven by AI power demands
Nuclear startup X-energy filed for IPO targeting $16-19 per share, potentially raising $814 million. Amazon led $500M Series C-1 round and pledged to buy 5 gigawatts of nuclear power by 2039. Company develops high-temperature gas-cooled reactors with TRISO fuel technology.
X-energy began its investor roadshow for an IPO priced between $16-19 per share, potentially netting $814 million at the high end. The nuclear startup has raised $1.8 billion from investors including Amazon, which led a $500 million Series C-1 round and committed to purchase up to 5 gigawatts of nuclear power by 2039. The company previously attempted a SPAC merger in 2023 but canceled the deal. X-energy develops high-temperature, gas-cooled reactors using TRISO fuel technology, where uranium is encased in ceramic and carbon spheres cooled by helium gas. The startup faces a patent dispute with bankrupt Ultra Safe Nuclear Corporation over fuel fabrication technology. Rising electricity demand from AI data centers and electrification has renewed interest in nuclear power, though no small modular reactor startups have built operational power plants yet.