Big Tech is going nuclear

Meta, Amazon, and Google are funding advanced small modular reactor (SMR) projects to secure reliable electricity for AI data centres. Meta has deals with Terrapower (690MW) and Oklo (1.2GW campus in Ohio), Amazon is partnering with X-energy for 5GW+ of SMRs by 2039, and Google has an agreement with Kairos Power targeting its first SMR by 2030. These corporate balance sheets are providing revenue certainty that could unlock commercial bank financing — historically absent from the sector. Despite growing interest, the advanced nuclear industry still faces significant hurdles including construction risks, licensing complexity, fuel supply challenges, and a looming skilled-labor shortage.