According to reports, Microsoft (MSFT) founder Bill Gates (Trades, Portfolio) and OpenAI CEO Sam Altman are backing two nuclear energy companies that have collectively raised over $1 billion. TerraPower, a private company founded by Gates, recently secured $650 million in funding. Investors include NVentures, the venture capital arm of chip leader Nvidia (NVDA, Financial). The fundraising round involved both new and existing investors, such as Gates and Korea's HD Hyundai. Meanwhile, Altman-backed Oklo (OKLO), a developer of small modular reactors (SMRs), raised $460 million, surpassing its initial goal by $60 million. Although Altman resigned as Oklo's chairman to avoid conflicts of interest, he remains a significant investor and supporter.
The push towards nuclear energy is driven by its potential to power high-demand AI data centers. Analysts note that tech giants like Google (GOOGL), Meta (META), and Microsoft have been forming partnerships with nuclear developers, aided by governmental support. TerraPower is advancing its flagship Natrium technology, an advanced reactor paired with a gigawatt-scale energy storage system. The company's first Natrium plant could become America's first commercial advanced nuclear power plant, offering breakthroughs in safety, reliability, and cost efficiency. This funding supports the plant's construction and the rapid deployment of more reactors in the U.S. and overseas.
