Nuclear startup X-energy raises $1B in data center-driven IPO
Original: Nuclear startup X-energy raises $1B in data center-driven IPO
Why This Matters
Nuclear power gains investor confidence as data center electricity demands surge
Nuclear startup X-energy raised $1 billion in its IPO, selling 44.3 million shares at $23 each, exceeding its $16-19 target range. The company builds small modular reactors and has deals with Dow and Amazon for up to 5 GW of nuclear power by 2039.
X-energy successfully completed its initial public offering, raising $1 billion by selling 44.3 million shares at $23 each, significantly above its initial $16-19 per share target. The company originally aimed to raise around $800 million. Trading begins Friday on Nasdaq under ticker XE. X-energy develops small modular reactors generating 80 megawatts each, using helium gas cooling and TRISO fuel pellets containing uranium wrapped in carbon and silicon for enhanced safety. The company has secured contracts with Dow for a Texas chemical plant and Amazon for up to 5 gigawatts of nuclear power by 2039. Amazon's Climate Pledge Fund led X-energy's Series C-1 funding round. The IPO success reflects surging electricity demand from data centers driving nuclear startup investments.