Latest news with #Natrium
Yahoo
10 hours ago
- Business
- Yahoo
TerraPower Lands $650 Million From Nvidia
Bill Gatesbacked TerraPower has closed a $650 million round led by Nvidia's (NASDAQ:NVDA) NVentures to fuel its first Natrium reactor as AI's power demands surge. The funding, which brings Nvidia's venture arm alongside existing investors like Gates and HD Hyundai, comes as TerraPower advances toward regulatory approval for its Natrium plantpoised to be the U.S.'s inaugural commercial advanced nuclear facility with modular, streamlined construction. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Non-nuclear work kicked off last year, and with construction ramping up, this capital infusion will cover engineering, licensing and early site development. UBS (NYSE:UBS) served as the exclusive placement agent, and TerraPower remains privately held. As AI and data centers gobble electricity, reliable, carbon-free power is critical. Nvidia's entry signals tech leaders betting on next-gen nuclear to meet soaring energy needs. If Natrium succeeds, it could reshape the energy landscapeproviding stable baseload that complements intermittent renewables and fuels compute-hungry AI. Watch for TerraPower's licensing milestones and initial reactor blueprints next year. Success could pave the way for similar modular plants worldwideand cement nuclear's role in powering tomorrow's AI revolution. This article first appeared on GuruFocus.
Yahoo
11 hours ago
- Business
- Yahoo
TerraPower Lands $650 Million From Nvidia
Bill Gatesbacked TerraPower has closed a $650 million round led by Nvidia's (NASDAQ:NVDA) NVentures to fuel its first Natrium reactor as AI's power demands surge. The funding, which brings Nvidia's venture arm alongside existing investors like Gates and HD Hyundai, comes as TerraPower advances toward regulatory approval for its Natrium plantpoised to be the U.S.'s inaugural commercial advanced nuclear facility with modular, streamlined construction. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Non-nuclear work kicked off last year, and with construction ramping up, this capital infusion will cover engineering, licensing and early site development. UBS (NYSE:UBS) served as the exclusive placement agent, and TerraPower remains privately held. As AI and data centers gobble electricity, reliable, carbon-free power is critical. Nvidia's entry signals tech leaders betting on next-gen nuclear to meet soaring energy needs. If Natrium succeeds, it could reshape the energy landscapeproviding stable baseload that complements intermittent renewables and fuels compute-hungry AI. Watch for TerraPower's licensing milestones and initial reactor blueprints next year. Success could pave the way for similar modular plants worldwideand cement nuclear's role in powering tomorrow's AI revolution. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 hours ago
- Business
- Yahoo
Nvidia's (NVDA) VC Arm Joins $650 Million TerraPower Fundraise for U.S. Nuclear Deployment
TerraPower said Wednesday it raised $650 million in funding from new and existing investors, including NVentures, the venture capital division of Nvidia (NVDA, Financials), as well as HD Hyundai and company founder Bill Gates (Trades, Portfolio). Warning! GuruFocus has detected 4 Warning Signs with NVDA. The privately held nuclear energy firm said the capital will support construction of its first commercial Natrium reactor and future deployments in the U.S. and abroad. The plant, which began non-nuclear construction last year, is awaiting regulatory approval expected in 2026. The Natrium system combines advanced reactor technology with grid-scale energy storage. TerraPower, founded by Gates, is developing the reactor in partnership with GE Hitachi. Nvidia's Sid Siddeek, head of NVentures, said in the company statement that rising AI-related energy needs could increase demand for carbon-free power sources, such as nuclear. UBS acted as exclusive placement agent for the funding round. TerraPower did not disclose valuation details. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
20 hours ago
- Business
- Express Tribune
Nvidia backs $650m funding round for Bill Gates' nuclear firm TerraPower
Nuclear innovation firm TerraPower, chaired by Bill Gates, has raised $650 million in new funding to support the construction of the United States' first advanced commercial nuclear reactor, with Nvidia's venture arm, NVentures, among the key investors. The funding, which was announced through a press release, reiterated TerraPower's ultimate aim of providing clean and safe energy. 'TerraPower was founded on the idea that innovation in nuclear science could make positive, global impacts,' said Chris Levesque, the company's President and CEO. 'This round further establishes that our technologies are the solutions that industry is looking for.' The capital raise marks a major milestone for the Washington-based company, which is developing the Natrium reactor — a sodium-cooled fast reactor coupled with grid-scale energy storage — designed to offer flexible, carbon-free power that can complement intermittent sources like wind and solar. Founded by Microsoft co-founder Gates in 2006, TerraPower said the new funds will support the Natrium demonstration project's construction, which began with non-nuclear groundwork last year. Regulatory approval for the reactor is expected in 2026. 🚨MAJOR NEWS🚨TerraPower announced today the close of a fundraise round that secured $650 million. This fundraise was comprised of both new investors, including NVentures, the venture capital arm of @nvidia, and current investors. This capital raise builds on the support of… — TerraPower (@TerraPower) June 18, 2025 The funding signals growing interest among tech firms in nuclear energy as a sustainable solution to rising data centre emissions. Google, Meta, and Amazon have each signed major nuclear energy agreements in recent months. 'As AI continues to transform industries, nuclear energy is going to become a more vital energy source,' said Mohamed Siddeek, Corporate VP at Nvidia and head of NVentures. 'TerraPower's nuclear reactor technologies offer innovative, carbon-free solutions to meet global energy needs while minimising environmental impact.' TerraPower is developing the Natrium reactor in partnership with GE Hitachi. The design enables the reactor to ramp up output when needed, storing energy to better integrate with the fluctuating nature of renewable power sources. As the push for clean energy intensifies globally, TerraPower's Natrium project positions it as a key player in what could be a new era of safe, scalable, and sustainable nuclear energy.
Mint
a day ago
- Business
- Mint
TerraPower raises $650 million from backers including Nvidia
TerraPower LLC, a nuclear startup founded by billionaire Bill Gates, raised $650 million to help continue development of an advanced reactor project under construction in Wyoming. The funding round included new investors such as NVentures, the venture capital arm of Nvidia Corp., and existing backers Gates and HD Hyundai, a South Korean shipbuilder, according to a statement Wednesday. Nvidia's decision to support the company reflects the growing links between the technology industry, which is clamoring for carbon-free electricity to power data centers and artificial intelligence, and nuclear companies that are pushing to build reactors that can deliver clean electricity around the clock. 'As AI continues to transform industries, nuclear energy is going to become a more vital energy source to help power these capabilities,' Mohamed Siddeek, head of NVentures, said in the statement. TerraPower is developing a 345-megawatt power plant at a Wyoming coal plant that's set to retire. It began construction a year ago on non-nuclear parts of the project, and expects to receive federal approval in 2026 for the reactor. The company did not disclose its valuation or other terms of the fundraise on Wednesday. Interest in nuclear power, seen as a cleaner and more reliable alternative to wind and solar, has surged after a decade of stagnation, supported by rising demand from data centers tapping into the artificial intelligence boom. In 2022, TerraPower had delayed Natrium's launch date by at least two years to 2030, due to a lack of special fuel called high-assay low-enriched uranium, or HALEU. In October last year, TerraPower and ASP Isotopes reached an agreement to produce HALEU at an undisclosed site. A developer of small nuclear reactors is going public via a special purpose acquisition company led by former Cantor Fitzgerald Chief Executive Officer Shawn Matthews. Terrestrial Energy Inc. has an equity value of $925 million in the deal with blank-check firm HCM II Acquisition Corp., with the combined entity valued at about $1 billion including debt, according to a statement reviewed by Bloomberg News. The transaction will provide Terrestrial with $280 million in gross proceeds, including the $230 million from the blank-check trust account and an additional $50 million from a private investment in public equity, or PIPE, at $10 a share to help commercialize its molten salt nuclear reactors, the companies said in the statement. Charlotte, North Carolina-based Terrestrial joins a band of SPAC-funded contenders betting they can make small modular nuclear power more than a quixotic vision of safely splitting atoms to shrink carbon emissions and sate AI's voracious appetite for energy. That group includes Sam Altman-backed Oklo Inc., Ares-backed X-Energy and Fluor Corp.-backed NuScale Power. Startups like TerraPower LLC, founded by Bill Gates, have also joined the fray.
