Amazon-Backed X-Energy Raises $1.02B, Applied Digital Secures $7.5B AI Lease
Amazon-backed X-Energy IPO raised $1.02 billion by selling 44.3 million shares at $23, valuing the firm at $9.1 billion and earmarking small modular reactors for AI data centers including Amazon’s. Applied Digital secured a 15-year lease potentially worth $7.5 billion to supply 300 MW of AI and HPC capacity for a U.S. hyperscaler.
1. X-Energy IPO and Amazon Partnership
X-Energy Inc. sold 44.3 million shares at $23 each in an upsized initial public offering, raising $1.02 billion and establishing a $9.1 billion market valuation. The company, backed by Amazon, develops small modular nuclear reactors using Triso pebble fuel designed to power AI data centers, with agreements in place to serve Amazon’s infrastructure needs.
2. Applied Digital 15-Year AI Lease
Applied Digital secured a 15-year lease deal potentially worth up to $7.5 billion to provide 300 MW of AI and high-performance computing infrastructure for a major U.S. hyperscaler. This constitutes the company’s second large hyperscaler contract, lifting its total contracted lease revenue to more than $23 billion and solidifying its role in the AI data center market.