Amazon-Backed X-Energy Raises $1.02B IPO, Values Firm at $9.1B
X-Energy Inc., backed by Amazon, sold 44.3 million shares at $23 in its upsized IPO, raising $1.02 billion and valuing the company at $9.1 billion. X-Energy designs Triso-pebble small modular reactors for AI data centers, and has agreements with Amazon, Dow and Centrica hosting potential $23 billion in contracted lease revenue.
1. IPO Details
X-Energy sold 44.3 million shares at $23 each in an upsized US IPO, raising $1.02 billion and establishing a market valuation of $9.1 billion based on outstanding shares.
2. Reactor Technology
The company’s small modular reactors use Triso-pebble fuel that burns hotter and longer than conventional uranium, targeting industrial facilities and AI data centers with more efficient energy output.
3. Strategic Agreements
X-Energy has secured partnerships with Amazon, Dow Inc. and Centrica Plc, contributing to over $23 billion in potential contracted lease revenue for its Delta Forge reactor facilities.
4. Financial and Ownership Structure
Last year X-Energy reported a net loss of $390 million on $94 million revenue; founder Kamal Ghaffarian controls 61% of Class B shares, while Ares Management affiliates hold 26%.