Small Modular Reactors (SMRs) are emerging as a new energy investment avenue for Big Tech companies seeking to power their AI needs at a lower cost. Amazon (AMZN) is leading the charge, investing in X-energy’s plant to manufacture these innovative nuclear reactors. X-energy CEO Clay Sell joins Catalysts to discuss how this move could transform the landscape. Sell notes that the latest funding round has generated $500 million in cash. This capital will be used to complete the design of the standard SMR plant and construct the first fuel facility at the company’s location in Texas. Once this initial plant is operational, the blueprint will be replicated at other facilities, including those run by Amazon (AMZN). Sell explains that this type of SMR facility has not been widely deployed in the US before, as "we have not seen sufficient demand from end-customers that are prepared to build these plants." However, he believes Amazon’s investments in these facilities are a "game changer," stating that "that’s what’s really going to facilitate this new growth era." As AI technology continues to advance and the demand for power to sustain these applications increases, Sell anticipates a significant portion of the SMR’s output will be dedicated to meeting the energy needs of the AI industry. The reactors’ ability to produce high-quality steam could also benefit petrochemical and industrial manufacturing companies, helping them decarbonize their operations, Sell adds.
#youtube #news #stockmarket
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
