Amazon Backs X-energy with $500M Funding and Seeks IPO to Raise $814M
Amazon led a $500M Series C-1 funding round for nuclear startup X-energy and committed to purchase up to 5GW of power by 2039, as X-energy targets an IPO at $16-19 per share to raise up to $814.3M. The high-temperature gas-cooled reactor maker expects production costs to fall 30% at scale.
1. Amazon Led $500M Series C-1 and 5GW Purchase
Amazon led a $500 million Series C-1 funding round in X-energy and committed to purchasing up to 5 gigawatts of nuclear-generated power by 2039 as part of its long-term energy strategy.
2. IPO Pricing and Expected Proceeds
X-energy filed for an initial public offering targeting $16 to $19 per share, aiming to raise up to $814.3 million, with proceeds earmarked for reactor development, scaling production, and working capital.
3. Advanced Reactor Design and Cost Outlook
X-energy’s high-temperature gas-cooled reactor uses TRISO fuel encapsulated in ceramic, which the company says offers enhanced safety, and projects first-of-a-kind production costs will fall by roughly 30% at mass manufacturing volumes.
4. Strategic Energy Sourcing Benefits for AWS
By securing dedicated nuclear power and backstopping a leading SMR developer, Amazon aims to stabilize long-term energy costs and support decarbonization goals for its AWS data centers.