Amazon-Backed X-Energy Files for $814M IPO to Advance Small Modular Nuclear Reactors

X-energy, the advanced nuclear startup backed by Amazon, has confidentially filed a draft S-1 registration with the SEC for an initial public offering aiming to raise up to $814 million.

The company plans to list on the Nasdaq, capitalizing on surging investor interest in nuclear energy to power AI data centers and achieve carbon-free goals.

IPO Details and Funding History

X-energy seeks to price shares at the high end to maximize proceeds, following a series of major funding rounds.

In October 2024, Amazon led a $500 million investment, securing board seats and rights to purchase reactors for its data centers.

The startup raised another $700 million in 2025 from investors including Jane Street, bolstering reactor design, licensing, and its first TRISO-X fuel facility.

Xe-100 Reactor Technology

The Xe-100 is a high-temperature gas-cooled small modular reactor designed for safety, using pebble-bed technology that cannot melt down.

Each 80-megawatt unit offers flexible siting, air-cooling to minimize water use, and reliable baseload power for industrial applications.

Market Impact and Future Deployments

This IPO signals the nuclear renaissance, as tech giants like Amazon, Google, and Microsoft bet on SMRs to meet exploding energy demands from AI.

X-energy partners with Energy Northwest for Washington deployments and Talen Energy for gigawatt-scale plants.

Future plans include commercialization by late 2020s, with facilities in Tennessee and potential Canadian projects, promising economic boosts and clean energy transitions.

The filing underscores nuclear's role in global net-zero ambitions amid regulatory support and technological breakthroughs.