X-Energy, the Amazon-backed small modular reactor developer, raised $1.02 billion in its Nasdaq IPO on April 24, 2026, pricing shares at $23 — 21% above the top of its marketed range. The offering is the largest public market debut by an advanced nuclear company to date. Amazon led X-Energy's $500M Series C-1 and has committed to purchasing up to 5 gigawatts of nuclear power from the company by 2039. The IPO reflects surging investor interest in nuclear energy driven by AI data centre electricity demand, with Microsoft, Google, Meta, and Oracle also making nuclear power commitments. X-Energy's core product is the Xe-100 pebble bed modular reactor, targeting first deployment in the early 2030s.
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