Amazon-Backed X-Energy IPO Raises $1.02B; Amazon Cuts 30,000 Jobs for AI Push
Amazon-backed nuclear firm X-Energy raised $1.02B in an upsized IPO, selling 44.3 million shares at $23 and valuing at $9.1B, with Amazon among reactor customers for its AI data centers. Earlier this year, Amazon cut about 30,000 roles across AWS, retail, Prime Video and HR to bolster AI investment.
1. X-Energy IPO and Amazon Involvement
X-Energy sold 44.3 million shares at $23 each in its upsized IPO, raising $1.02 billion and achieving a $9.1 billion market valuation. Amazon is named among agreements to deploy the firm’s small modular reactors, specifically to power its AI data centers, marking a strategic move into clean energy infrastructure.
2. Amazon’s Workforce Reductions for AI Investment
Earlier in 2026, Amazon reduced its headcount by about 30,000 positions across AWS, retail, Prime Video and human resources. The cuts were implemented to reallocate resources toward AI development and cloud infrastructure, reflecting the company’s broader push to integrate AI tools across operations.
3. Industry Cost-Cutting in the AI Race
Tech peers are similarly streamlining operations: Meta plans to lay off 10% of its staff while Microsoft offers voluntary buyouts to up to 7% of U.S. employees. These moves highlight a sector-wide effort to control costs and boost productivity as companies ramp up multibillion-dollar AI investments.