Advanced nuclear reactor company X-energy started buying and selling Friday because the AI growth and electrification broadly spark a flurry of curiosity in the nuclear business.
The inventory opened at $30.11, after upsizing its preliminary providing, pricing at $23 per share — forward of the preliminary vary of $16 – $19 per share. The company raised greater than $1 billion, making it the most important nuclear public providing on report. Shares final traded 26% greater.
The company’s xe-100 reactor is 80 megawatts, and may be bundled along with further reactors to scale as much as 960 megawatts. The xe-100’s mannequin is a high-temperature gas-cooled reactor. In addition to producing electrical energy, its excessive temperatures imply it may be used in hard-to-decarbonize industrial purposes akin to chemical manufacturing.
All of the nuclear reactors presently in operation in the U.S. are gentle water reactors.
The company has but to start development on any of its reactor services, nevertheless it already has an order pipeline of greater than 11 gigawatts because of partnerships with firms together with Amazon, Dow and Centrica.
Prior to going public, the company raised greater than $1.4 billion – most not too long ago a $700 million Series D fund in November – with backers together with Amazon, Jane Street, ARK Invest, Citadel’s Ken Griffin and Ares Management funds. The company has additionally received funding from the U.S. Department of Energy.
X-energy is the primary sizable superior reactor company to pursue a conventional IPO route, after opponents Oklo and NuScale went public by way of SPAC transactions. X-energy beforehand pursued an inventory by way of a SPAC merger, however in the end deserted that plan in 2023.
The company’s enterprise mannequin can be completely different from a few of its opponents, because it doesn’t plan to personal and function nuclear vegetation. Rather, it should license its expertise. X-energy can even promote nuclear gasoline that is produced at its fabrication facility in Oak Ridge, Tennessee, the place development started in 2025.
X-Energy’s TRISO Facility.
Courtesy: X-Energy
In March 2025, X-energy and Dow submitted a development allow utility to the U.S. Nuclear Regulatory Commission for his or her proposed venture in Seadrift, Texas. The evaluation course of is predicted to take 18 months, and is a part of a two-step course of, which additionally contains making use of for an working license.
X-Energy can be working with Amazon to deploy 5 gigawatts throughout the U.S. by 2039. The first venture will probably be a 320-megawatt facility with Washington utility Energy Northwest, the businesses beforehand introduced.
