Hyperscaler capex and SMR nuclear move together. Post 073 documented X-energy's IPO with Amazon as anchor. Post 074 extends this: X-energy LOIs for utility-scale plants in the Mid-Atlantic and Kentucky, plus the 35B platform anchored by frontier AI labs, show hyperscaler capex diversifying from near-term gas into long-dated nuclear across two parallel tracks.
The signals around the crisis that started this story are shifting. A possible deal on the Strait of Hormuz has moved oil. But the AI buildout hasn't waited to see how it resolves. It has detached from the public systems that used to govern it and is assembling a power system of its own.
X-energy priced its IPO on April 23 at $23 per share - above the $16-19 marketed range - raising $1.02 billion. The 44.25M-share offering was upsized; shares began trading on Nasdaq on April 24 under ticker XE and closed up 31%, implying a $12B market cap. Largest nuclear IPO on record.
Hyperscaler capex and SMR nuclear move together. Post 073 documented X-energy's IPO with Amazon as anchor. Post 074 extends this: X-energy LOIs for utility-scale plants in the Mid-Atlantic and Kentucky, plus the 35B platform anchored by frontier AI labs, show hyperscaler capex diversifying from near-term gas into long-dated nuclear across two parallel tracks.
The signals around the crisis that started this story are shifting. A possible deal on the Strait of Hormuz has moved oil. But the AI buildout hasn't waited to see how it resolves. It has detached from the public systems that used to govern it and is assembling a power system of its own.
X-energy priced its IPO on April 23 at $23 per share - above the $16-19 marketed range - raising $1.02 billion. The 44.25M-share offering was upsized; shares began trading on Nasdaq on April 24 under ticker XE and closed up 31%, implying a $12B market cap. Largest nuclear IPO on record.