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X-Energy Raises $1.02 Billion in Upsized IPO

Investor demand reflects growing corporate interest in small modular reactors for data centers.

X-Energy Inc. signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Friday, April 24, 2026. X-Energy Inc., a nuclear energy firm that counts Amazon.com Inc. as a backer, raised $1.02 billion in an upsized US initial public offering that priced above the marketed range. Photographer: Michael Nagle/Bloomberg
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Overview

  • X-Energy began trading Friday on the Nasdaq under the ticker XE after pricing its IPO at $23 per share to raise about $1.02 billion.
  • The company sold 44.3 million shares, topping a marketed range of $16 to $19 as orders pushed the deal higher than its initial target.
  • Amazon invested about $500 million in 2024 and agreed to buy up to 5 gigawatts of nuclear power by 2039 to power its expanding AI data centers.
  • The flagship Xe-100 is an 80-megawatt small modular reactor cooled by helium and fueled by TRISO pebbles that trap heat inside layered coatings to lower meltdown risk.
  • A deal with Dow will supply heat and electricity to a Texas chemical plant, signaling early industrial use of the technology beyond the power grid.