Nuclear startup X-Energy has filed for an initial public offering (IPO) aiming to raise up to $800 million, as it seeks to capitalize on growing global demand for clean and reliable energy driven by AI and data center expansion.
The company has begun its investor roadshow, with plans to price shares between $16 and $19 each. At the higher end of the range, the IPO could raise approximately $814 million and value the company at around $7.5 billion.
Founded in 2009, X-Energy focuses on developing advanced small modular nuclear reactors (SMRs) and specialized nuclear fuel. These reactors are designed to be safer, more efficient, and quicker to deploy compared to traditional large-scale nuclear plants, positioning the company within the next generation of clean energy solutions.
The startup has gained strong backing from Amazon, which has invested heavily in the company and committed to purchasing up to 5 gigawatts of nuclear power from X-Energy by 2039. This partnership highlights the increasing involvement of Big Tech in securing stable, carbon-free energy sources for power-intensive AI data centers.
X-Energy has raised approximately $1.8 billion from investors to date and had previously attempted to go public through a SPAC merger in 2023, which was later canceled due to unfavorable market conditions.
The IPO comes amid a broader resurgence of interest in nuclear energy, as rising electricity demand—particularly from artificial intelligence infrastructure—pushes companies and governments to explore scalable, low-carbon power alternatives.
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