Nuclear startup X-energy raises $1B in data center-driven IPO

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TLDR

  • X-energy raised $1B in its IPO, selling shares at $23 each, well above its $16–$19 target range.

Key Facts

  • The company sold 44.3 million shares, raising about 20% more than its initial $800M goal.
  • X-energy builds small modular reactors (SMRs) generating 80 MW each, cooled by helium and fueled by TRISO pellets.
  • It has a deal with Dow to supply heat and power to a Texas chemical plant, and a deal to sell Amazon up to 5 GW of nuclear power by 2039.
  • Amazon’s Climate Pledge Fund led X-energy’s Series C-1; the stock will trade on Nasdaq under the ticker XE.

Why It Matters

  • The IPO priced well above range, reflecting strong investor appetite for nuclear power tied to data center electricity demand.
  • X-energy’s TRISO fuel design is intended to reduce meltdown risk, a differentiator as SMRs move toward commercial deployment.

Tim De Chant, TechCrunch · 2026-04-24 · Read the original