Amazon-backed nuclear startup X-Energy raises $1.02 billion in IPO
April 24, 2026 – 7:59 am
X-Energy sold 44.3 million Class A shares at $23 each, above the $16–$19 marketed range. The company began trading on Nasdaq under the ticker XE on April 24th. With $1.8 billion in prior private capital and a binding commitment from Amazon to buy up to 5 gigawatts of nuclear power by 2039, X-Energy raised $1.02 billion in its initial public offering (IPO) on April 23, 2026.
This is the largest public market debut by an advanced nuclear company to date and comes at a pivotal time when electricity demand from AI data centers, manufacturing reshoring, and electrification has made reliable, carbon-free baseload power a top priority in the United States.
The pricing of the IPO reflects investor conviction in the nuclear renaissance narrative. ARK Investment Management, Cathie Wood’s thematic fund, expressed interest in purchasing up to $105 million worth of shares at the IPO price.
X-Energy’s core technology, the Xe-100, is a pebble bed modular reactor design developed since its founding in 2009 by Kamal Ghaffarian. The Xe-100 produces approximately 320 MW of power when deployed with four units.