Latest news with #ElementlPower
Globe and Mail
12-05-2025
- Business
- Globe and Mail
Google Is Betting Big on Nuclear Reactors—Should You?
Google made several headlines related to artificial intelligence (AI) this week. And, despite the stock's performance, not all were negative. Of course, the news of search losing preference to AI chatbots like ChatGPT amongst iPhone users grabbed the top story, and the Department of Justice continues to look into antitrust measures against the company's ad tech business. However, the Alphabet Inc. (NASDAQ: GOOGL) subsidiary continues to spend heavily on AI infrastructure and recently entered an agreement with Elementl Power to develop three new nuclear development sites to power its surging data center energy needs. Elementl Power is a privately held firm specializing in developing and financing advanced nuclear power projects for clients seeking clean energy solutions. The proposed projects would each produce 600 megawatts of power and operate under Elementl Power's supervision. Google isn't the first company to embrace nuclear power, as Microsoft Corp (NASDAQ: MSFT) and Amazon Inc. (NASDAQ: AMZN) have also made deals with nuclear energy providers in recent months. But this is a confirmation signal of a larger trend: megacap tech firms are looking for clean (and scalable) energy solutions for their ever-expanding data center operations. Energy sector shifts like this could present opportunities for investors as public companies in the clean energy space link up with tech firms to power the next generation of AI models—and here's why. The AI + Nuclear Nexus: What's Driving the Demand? Have you ever blown a fuse in your house because you have too many appliances running simultaneously? It's more of a minor headache than what tech companies working on AI are dealing with, but the central concept is the same: too many electronic mouths to feed. AI data centers require a vast amount of electricity, and powering these energy hogs may require alternative sources moving forward. Nuclear energy is important to the firms training AI models for various reasons. For starters, it is a clean energy, which is vital for companies like Google and Microsoft with carbon-free goals and strong environmental, sustainability, and governance (ESG) standards. Reliability is another factor, as nuclear facilities have a consistent baseload and aren't dependent on uncontrollable factors like wind or sunlight. As pressure to keep data centers efficient and ESG-compliant increases, clean sources like nuclear power will continue to appeal to the tech sector. And while many of these new nuclear sites won't be coming online for several years, the time is now for AI innovators to make deals and lay the groundwork for their future energy needs. 3 Public Players Getting In on the Action Ready to invest in the future of nuclear energy? Here are three publicly-traded energy companies that have already struck nuclear power deals with big tech companies to consider adding to your portfolio. 1. Constellation Energy: Nuclear Giant Powers Microsoft's AI Future [content-module:Forecast|NASDAQ:CEG] Constellation Energy (NASDAQ: CEG) is the largest nuclear power producer in the United States, and the company recently cemented this fact by negotiating a 20-year partnership with Microsoft. In October, Constellation announced a plan to reopen a transformer at Three Mile Island in Pennsylvania, part of a $1.6 billion investment to revitalize the shuttered plant. The company plans to use the site to provide Microsoft data centers with 835 megawatts of nuclear power. CEG is up over 50% in the last three months, buoyed by 10% year-over-year (YOY) revenue growth. The company recently reported a top and bottom line earnings beat, and has a consensus Moderate Buy rating with an average price target of $282. 2. NuScale Power: Small Reactors, Big Potential for AI Data Centers [content-module:Forecast|NYSE:SMR] NuScale Power (NYSE: SMR) is the first company in the United States to receive regulatory approval for small modular reactors (SMRs), which require less infrastructure than traditional large-scale plants. These compact, scalable reactors offer a wider range of options for companies looking to scale their operations—and NuScale's partnership with Standard Power highlights these perks. Under the agreement, Standard Power plans to deploy 2 gigawatts of SMR energy to data centers in Pennsylvania and Ohio. NuScale has a Moderate Buy rating based on five analyst reports, but the most recent one from BTIG Research gave the stock a $20 price target, which would imply an upside over 30%. 3. Oklo: Startup Strikes Mega AI Power Deal with Switch [content-module:Forecast|NYSE:OKLO] Oklo Inc. (NYSE: OKLO) may not be as big as Constellation, but the deal it signed with Switch last December just might eclipse the one Constellation signed with Microsoft. One of the leading designers and operators of data center campuses, Switch uses 100% clean energy in its projects and is committed to sustainability across its operations. As part of their new partnership, Oklo has agreed to provide 12 gigawatts of nuclear power through 2044. This signifies growing confidence in Oklo's SMR technology and its potential to serve the power-hungry AI sector. OKLO shares have a Moderate Buy rating with an average price target of $46, indicating upside of more than 70%. Where Should You Invest $1,000 Right Now? Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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Yahoo
11-05-2025
- Business
- Yahoo
Google To Fund Three Nuclear Sites, Says The Move Will Allow Them To 'Move At The Speed Required To Meet This Moment Of AI And American Innovation'
Elementl Power announced a deal with Google to develop three new sites for advanced reactors on Wednesday Exact details remain private, but Google will be committing early-stage development capital in exchange for the option to purchase the power once the sites are complete The deal is the latest in a long string of tech companies partnering with nuclear power companies to fuel growth Nuclear power developer Elementl Power said Wednesday that it had signed a strategic agreement with Google to develop three sites for advanced reactors. 'Innovative partnerships like this are necessary to mobilize the capital required to build new nuclear projects, which are critical to deliver safe, affordable and clean baseload power and help companies advance their long-term net zero goals,' said Chris Colbert, Elementl Power's CEO. Don't Miss: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Exact details of the deal were not disclosed, but Google has agreed to commit early-stage development capital to advance the progression of the three projects. In exchange, the tech company will have the option to buy the power once the sites are complete and operational, the announcement said. "Google is committed to catalyzing projects that strengthen the power grids where we operate, and advanced nuclear technology provides reliable, baseload, 24/7 energy,' said Amanda Peterson Corio, Google's global head of data center energy, in Elementl's statement. "Our collaboration with Elementl Power enhances our ability to move at the speed required to meet this moment of AI and American innovation.' Elementl Power was founded in 2022 as a nuclear power project developer. The company has yet to build any sites. It also hasn't chosen what reactors it will use in future projects, according to CNBC, instead opting to wait and see which reactor technology is furthest along in development when the time comes. Trending: Nancy Pelosi Invested $5 Million In An AI Company Last Year — Once these proposed projects reach final investment stages, Google and Elementl Power will work together to find other sources of capital, according to the statement. Each project is aiming for at least 600 MW of capacity. The number is in line with Elementl Power's overall goal of adding 10 GW of power to the nuclear grid by 2035. This is not the first nuclear power deal Google has made within the last year. In October, it said it would be buying power from small modular power reactor company Kairos Power. At the time, Google said that the first reactor would be online by 2030, with more following through need for new power sources to support data centers has been a concern among tech giants for some time. Kevin Miller, Amazon's (NASDAQ:AMZN) vice president of global data centers, told CNBC last month, "We continue to see very strong demand [for power], and we're looking both in the next couple years as well as long term and seeing the numbers only going up." At the same time, Anthropic co-founder Jack Clark told CNBC "we're seeing... tremendous growth in the need for new baseload power. We're seeing unprecedented growth." He predicted that 50 GW of new power capacity, which is equivalent to 50 new nuclear plants, will be needed by 2027 to support AI growth. Read Next:Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? (AMZN): Free Stock Analysis Report This article Google To Fund Three Nuclear Sites, Says The Move Will Allow Them To 'Move At The Speed Required To Meet This Moment Of AI And American Innovation' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
TechCrunch
09-05-2025
- Business
- TechCrunch
Google inks deal to develop 1.8 GW of advanced nuclear power
Google and nuclear site developer Elementl Power announced this week that they will work together on three sites for advanced nuclear reactors. The tech company has been rushing to lock up energy sources as its AI ambitions drive growing power demands at its data centers. This year alone, Google plans to spend $75 billion building data center capacity. With the new deal, Google is promising to add at least 600 megawatts of generating capacity at each of the three sites. Elementl said the reactors will be connected to the grid 'with the option for commercial off-take,' meaning that Google can buy power directly. Elementl has been operating stealthily until this announcement. The team has experience in the nuclear industry, though it hasn't developed any power plants yet. The company was started by Breakwater North and is backed by Energy Impact Partners. Elementl is taking a 'technology agnostic' approach, meaning that it hasn't decided on which small modular reactor (SMR) company it will work with to develop the projects. There are a number of possibilities, though Kairos Power is a likely frontrunner given its existing deal with Google. Kairos says its demo plant will generate 50 megawatts of electricity, with an eventual commercial plant producing 150 megawatts split between two reactors. There's no universally accepted definition, but SMRs tend to top out at 300 megawatts or so. By comparison, the most recently completed nuclear power plant in the U.S., Vogtle Unit 4 in Georgia, generates over 1.1 gigawatts of electricity, nearly four times the size of a large SMR. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW Silicon Valley has been smitten by SMRs. Startups have been rushing into the space, promising to slash reactor costs through mass manufacturing enabled by SMRs' smaller size. That, coupled with the promise of 24/7 power that could be sited close to data centers, has pushed them to sign a number of deals with SMR startups, including Oklo, X-Energy, and the aforementioned Kairos. Yet no SMR has been built outside of China. One startup, NuScale, has gotten close to building one, but it suffered a setback in 2023 when its utility partner canceled its contract after the estimated cost of the project more than doubled — even as the plans were downsized in an effort to contain costs.
E&E News
08-05-2025
- Business
- E&E News
Google commits early stage capital for three nuclear sites
Google has entered into a strategic agreement with startup Elementl Power to support the development of three advanced nuclear energy sites, the companies announced on Wednesday. Each of the three proposed nuclear sites — the locations of which are unknown — is expected to deliver at least 600 megawatts of baseload power, with an option for Google to purchase the electricity once operational. Under the agreement, Google is committing to an undisclosed financial investment today to secure that possible future option. Google's commitment comes at a time of volatility in the nuclear energy sector. Late last year, federal regulators blocked a high-profile data center co-location deal at the Susquehanna nuclear plant, and the startup Ultra Safe Nuclear Corp. filed for bankruptcy despite having prominent research partnerships. Advertisement Still, the need for new clean energy capacity is only growing. Transmission providers are projecting an 8.2 percent rise in electricity demand over the next five years, driven largely by data centers and artificial intelligence workloads.
Time of India
08-05-2025
- Business
- Time of India
Google partners with Elementl Power on nuclear energy sites as power demand for AI grows
Google is partnering with Elementl Power on three project sites for advanced nuclear energy as the energy required to power burgeoning artificial intelligence projects rises sharply. Under the agreement announced Wednesday, Google will provide capital for the projects, which the companies say will each produce 600 megawatts of power capacity. No dollar figure for Google's investment was given. "Our collaboration with Elementl Power enhances our ability to move at the speed required to meet this moment of AI and American innovation ," said Amanda Peterson Corio , Google's head of data center energy. Google and Elementl said they will collaborative with utility and regulated power companies to identify and advance new projects. "We look forward to working with Google to execute these projects and bring safe, carbon-free, baseload electricity to the grid," said Elementl Power Chairman and CEO Chris Colbert. U.S. states have been positioning themselves to meet the tech industry's power needs as policymakers consider expanding subsidies and gutting regulatory obstacles. Last year, 25 states passed legislation to support advanced nuclear energy, and lawmakers this year have introduced over 200 bills supportive of nuclear energy, according to the trade association Nuclear Energy Institute. Advanced reactor designs from competing firms are filling up the federal government's regulatory pipeline as the industry touts them as a reliable, climate-friendly way to meet electricity demands from tech giants desperate to power their fast-growing artificial intelligence platforms. In October, Amazon announced that it was investing in small nuclear reactors, just two days after a similar announcement by Google. A month before that, Constellation Energy, the owner of the shuttered Three Mile Island nuclear power plant said it it planned to restart the reactor so tech giant Microsoft could secure power to supply its data centers. Three Mile Island, located on the Susquehanna River just outside Harrisburg, Pennsylvania, was the site of the nation's worst commercial nuclear power accident, in 1979. Amazon, Google and Microsoft also have been investing in solar and wind technologies, which make electricity without producing greenhouse gas emissions. Elementl Power was founded in 2022.
