Nuclear startup Deep Fission announces second IPO attempt
Original: Nuclear startup Deep Fission says it’s going public, again, and I have questions
Why This Matters
Highlights challenges facing nuclear startups seeking public funding amid AI energy demands
Deep Fission is seeking $157 million in a Nasdaq IPO at $24-26 per share, valuing the company at up to $1.66 billion. The nuclear startup previously completed a reverse merger in September 2021 that raised $30 million but never actually traded publicly.
Deep Fission announced its second attempt to go public, this time through a traditional Nasdaq IPO seeking $157 million at $24-26 per share. The company previously completed a reverse merger with Surfside Acquisition in September, raising $30 million at $3 per share, but the stock never actually traded despite becoming a public reporting company. The startup develops subterranean nuclear reactors for AI data centers. Its financial position has worsened, with deficit growing to $88.1 million from $56.2 million as of March. Cash declined $6.4 million in recent weeks. The company's timeline for achieving nuclear criticality has slipped from July 2026 with no new estimate provided. Deep Fission is currently drilling its first test well of three planned, collecting data up to 6,000 feet deep.