On October 14, 2024, news emerged that Google parent Alphabet is backing new small nuclear reactors (SMRs) to power its artificial intelligence (AI) data centers. This development saw shares of NuScale Power surge, reflecting increased investor optimism in the nuclear energy sector.
Google signed a power purchase agreement with Kairos Power for an SMR project capable of generating up to 500 megawatts. This move by a major tech giant underscores the urgent need for reliable, carbon-free energy solutions to meet the escalating demands of AI infrastructure.
For NuScale Power, this trend is significant as it validates the market for its SMR technology. The growing commitment from hyperscalers to nuclear energy for their data centers creates a substantial opportunity for NuScale, which is positioned as a leading SMR developer.
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