Tech Giants Fuel Nuclear Renaissance: Amazon and Google Invest Heavily in Small Modular Reactors to Power AI Boom

Driven by the soaring electricity demands of AI, tech giants like Amazon and Google are investing heavily in small modular reactors (SMRs). These reactors are simpler, cheaper, and faster to build than conventional ones. Amazon invested in X-Energy's $500 million financing round, aiming for 5 GW of new power projects by 2039. Google signed a deal with Kairos Power to purchase nuclear energy from SMRs. Globally, SMR developers have raised at least $1.5 billion in the past year. Goldman Sachs forecasts 85-90 GW of new nuclear capacity will be needed by 2030 to meet data center power demands, but less than 10% will be available.