Amazon backs $1.02B nuclear IPO while Meta trims 10% workforce on AI costs
Amazon backed nuclear firm X-Energy’s $1.02B IPO, valuing it at $9.1B and funding small modular reactors for AI data centers. Meta will cut 10% of staff as it reports $35.15B in AI costs and plans $115–135B in capital spending, signaling fiercer AI infrastructure competition.
1. Amazon Backs X-Energy IPO
Amazon participated as a strategic investor in X-Energy’s IPO, which raised $1.02B by selling 44.3 million shares at $23 each, above its marketed $16–19 range. The offering values X-Energy at $9.1B and secures funding for its small modular nuclear reactors aimed at powering AI data centers.
2. Meta’s AI Layoffs and Spending
Meta will reduce its workforce by roughly 8,000 employees, or 10%, next month while leaving thousands of roles unfilled, as it accelerates AI initiatives. The company reported $35.15B in AI-related costs last quarter and plans $115–135B in annual capital expenditures, escalating the AI infrastructure race that includes Amazon.