Amy Feldman is a Forbes senior editor, covering startups, innovation and climate tech based in New York. She co-authors the Current Climate newsletter and edits the Next Billion-Dollar Startups list.
to help drive a massive data-center expansion that includes more than $52 billion across just three U.S. states.
Inside an AWS data center: Amazon has committed to spend more than $52 billion on data center expansion in Virginia, Mississippi and Ohio.But while nuclear power does not release greenhouse gases, it requires managing radioactive waste. And despite lots of talk in recent months about the development of SMRs, none have opened in the United States to date, leaving unanswered questions about their expense and feasibility.
“There’s a couple of pieces that need to come together over the next several years to really deliver energy at scale,” Garman said. “We will be at the leading edge of that.”And that’s led to an explosion of demand for electricity: An official from Dominion, which is based in Richmond, noted that power demand from data centers in Virginia had doubled over the last five years and is expected to quadruple over the next 15 years.
As the technology has advanced, a number of startups have sprung up to develop it, including X-energy, Bill Gates’s TerraPower, which is developing a new kind of sodium reactor that uses salt to store energy, and NuScale, a publicly traded SMR developer with a market cap of $1.4 billion. X-energy, whichin October 2023, has now raised nearly $900 million, including $385 million before the new investment, according to VC database PitchBook.
“It speaks to the magnitude of the demand, and really what AI has done to the way we think about electricity in the United States.”Sundar Pichai, CEO of Alphabet and its Google subsidiary, said in a recent talk at Carnegie Mellon. “And so when I look at the capital and innovation going in, I’m optimistic in the medium- to long-term.” On Monday,to bring its first SMR online by 2030 with additional deployments through 2035.
Aws Data Centers Nuclear Power Small Modular Reactors Dominion Energy X-Energy Ai Matt Garman Hyperscalers
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