Amazon-Backed X-Energy IPO Raises $1.02B as Shares Jump 27%
Amazon-backed X-Energy’s Nasdaq IPO raised $1.02 billion, selling 44.3 million shares at $23 and closing at $29.20, a 27% gain that valued the company at about $12 billion. Amazon’s 65.8 million–share stake (29%) saw an immediate boost, enhancing its strategic position in advanced nuclear technology.
1. IPO Performance
X-Energy raised $1.02 billion in its Nasdaq debut by selling 44.3 million shares at $23 each. Shares closed at $29.20, representing a 27% increase and a fully diluted valuation near $12 billion.
2. Amazon Stake Impact
Amazon held 65.8 million shares, or 29% of X-Energy, prior to the IPO, translating to a roughly $1.92 billion stake at the debut close. Class B shareholders retain one-third of voting rights post-listing without additional economic benefits.
3. Market Context and Outlook
The advanced nuclear developer has raised $1.81 billion in venture capital and posted a $389.8 million net loss on $109.1 million revenue in 2025. It licenses reactor and cooling technology under orders totaling over 11 gigawatts, with first deployments expected in the early 2030s, driven by AI data center power needs.