X-energy stock jumps 27% on Nasdaq debut after upsized IPO
Original: X-energy stock pops 27% on first day of trading following upsized IPO
Why This Matters
Nuclear power gains investor confidence as solution for AI data center energy needs
X-energy's stock closed at $29.20 on its first trading day, up 27% from its $23 IPO price. The nuclear startup raised funds at an $11.5 billion valuation, with initial price target revised upward from $16-19 range due to strong investor demand.
X-energy debuted on Nasdaq with shares opening at $30.11 and closing at $29.20, representing a 27% gain over its $23 IPO price. The nuclear startup's initial price target was revised upward from the $16-19 range floated during its roadshow. At close, the company was valued at $11.5 billion. The strong performance reflects growing investor interest in nuclear power, driven by AI data center electricity demands. X-energy designs 80-megawatt modular reactors, significantly smaller than traditional plants. Amazon has committed to purchasing up to 5 gigawatts of capacity over the next decade, while Dow will receive the first power plant. Construction is underway at X-energy's fuel facility, though no power plant construction has begun yet.