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Amazon-Backed X-Energy Raises over $1 Billion in IPO
Investor demand pushed the offering above range as Amazon-backed X-Energy plans to use proceeds to expand reactor development and fuel capacity.
- On Thursday, nuclear reactor developer X-Energy raised $1.02 billion in its initial public offering, pricing shares at $23 each, a 21% premium above the marketed range of $16 to $19.
- Amazon, a key strategic backer, invested about $500 million in 2024 to support X-Energy's SMR technology rollout for its AI-driven data centers. The tech giant also holds a binding commitment to purchase up to 5 gigawatts of nuclear power by 2039.
- The Xe-100 reactor uses helium as a coolant flowing over billiard ball-sized pebbles packed with BB-sized TRISO fuel pellets. This pebble bed design allows reactions to slow naturally if the reactor overheats, providing inherent safety without active cooling intervention.
- Analyst Vikram Bagri noted the IPO 'suggests continued appetite among investors' for small modular reactors, aligning with recent commitments from Microsoft and Google to secure carbon-free baseload power for their data centers.
- Proceeds from the offering will accelerate X-Energy's reactor development and scale up fuel fabrication capacity. The company targets the early 2030s for first commercial deployment of its Xe-100 system.
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Company plans to use resources for spin capital, future projects and general purposes, such as research and development
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Total News Sources22
Leaning Left2Leaning Right3Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 18%
C 55%
R 27%
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