Amazon-backed X-Energy is targeting a valuation of up to $7.51 billion in its initial public offering in the United States, the nuclear reactor developer said on April 15.
The Maryland-based company is seeking up to $814.3 million by offering roughly 42.9 million shares priced between $16 and $19 apiece.
Nuclear energy is experiencing a resurgence, driven by surging electricity demand from hyperscalers that operate massive cloud-computing infrastructure to manage rising AI processing.
Morgan Stanley reports global electricity demand is projected to rise more than 1 trillion kWh annually through 2030, with data centers anticipated to contribute nearly 20% of this growth.
Founded in 2009, X-Energy designs nuclear reactor technology known as small modular reactors (SMR) and manufactures nuclear fuels.
SMRs are more compact and cost-effective compared to full-sized reactors that often take decades to build.
