AI Power Race Heats Up
X-Energy, a U.S. nuclear reactor developer backed by Amazon, has raised $1.02 billion in one of the biggest nuclear energy public offerings in recent years. The company sold about 44.3 million shares at $23 each, above its original target range of $16 to $19 per share. The stock began trading on the Nasdaq under the ticker XE.
By Jennifer L., Carbon Credits.com
Investor demand was strong. Reports said the IPO was heavily oversubscribed, reflecting growing interest in nuclear energy amid a sharp rise in electricity demand driven by artificial intelligence (AI).
After trading began, X-Energy’s valuation climbed close to $12 billion. Its stock also surged in its Nasdaq debut, jumping about 27% above its $23 IPO price to around $29 per share.
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The IPO also marked a major turnaround for the company. In 2023, X-Energy canceled a planned SPAC merger because of weak market conditions. Less than three years later, the same company returned to public markets with much stronger investor support.
The shift reflects a larger change in global energy markets. AI growth is driving massive new electricity demand, and many technology companies are now seeking stable, carbon-free power sources.
