Amazon-Backed X-Energy Secures 5 GW Deal, GXO Logistics Stock Slides 18%
Amazon-backed X-Energy went public at $23 per share in April, secured a 5 GW power purchase deal by 2039 and reported a $390 million loss in 2025. Amazon launched a supply chain services business that sparked an 18% drop in GXO Logistics stock despite GXO’s 10.8% Q1 revenue growth.
1. X-Energy IPO and Partnership
Amazon-backed X-Energy, a small modular nuclear reactor developer, went public in April 2026 at $23 per share and is trading near $31.80. The company secured a 5 GW power purchase agreement with Amazon through 2039, recorded a $390 million net loss in 2025 and aims to deliver first commercial reactors by 2030.
2. New Supply Chain Services Business
Amazon introduced a dedicated supply chain services arm offering warehousing, transportation management and fulfillment solutions to third-party sellers and enterprise clients. The initiative leverages Amazon’s logistics network to provide end-to-end inventory and delivery capabilities.
3. GXO Logistics Response
GXO Logistics shares plunged 18% after Amazon’s announcement despite GXO reporting 10.8% Q1 revenue growth and raising full-year guidance. CEO Patrick Kelleher argued GXO’s specialized, customized logistics model serves a distinct market and viewed the sell-off as a buying opportunity.