OODA research and reporting over the last year has noted several recent changes due to the convergence of advances in technology, the growing demand for more energy for AI, and changes to the regulatory environment. As AI’s energy demands surge, nuclear power has emerged as a cornerstone of the technology sector’s long-term energy strategy. Industry giants such as Amazon, Google, Microsoft, and Meta are rapidly investing in small modular reactors (SMRs) and large-scale nuclear solutions to sustain AI-driven operations and data centers. However, regulatory hurdles remain significant challenges, and the reality is that it still takes a long time to field even the newest, best-designed nuclear power systems. 

Why This Matters

Given the focus on the energy sector by the Trump administration we expect a more friendly regulatory environment on nuclear projects and expect both commercial and government nuclear power plants to be approved quicker, but even new small modular reactors take time for approval and production. 

The Commercial Players OODA is Tracking

The commercial nuclear power industry is dominated by major players like GE Vernova, which continues to develop advanced reactor technologies, including small modular reactors (SMRs) and next-generation boiling water reactors. Alongside industry giants, smaller innovators such as NuScale Power are making strides with their modular, scalable nuclear solutions, offering safer and more flexible alternatives to traditional large-scale plants. Other notable companies include TerraPower, backed by Bill Gates, which is developing sodium-cooled fast reactors, and X-energy, which focuses on high-temperature gas-cooled reactors for both power generation and industrial applications. Additionally, Kairos Power is working on fluoride salt-cooled reactors aimed at enhancing efficiency and safety. Other startups like Oklo focus on micro-reactors for decentralized energy needs. These emerging firms, leveraging advancements in materials science, reactor physics, and AI-driven operations, are reshaping the future of nuclear energy by providing more adaptable, lower-cost, and sustainable solutions for global energy markets.

Nuclear fusion companies are racing to commercialize fusion energy, but this is a much longer term trend to track. These companies seek to leverage breakthroughs in plasma physics, superconducting magnets, and AI-driven reactor optimization. Commonwealth Fusion Systems (CFS), spun out of MIT, is developing compact tokamak reactors using high-temperature superconducting magnets to achieve net energy gain. Helion Energy, backed by Sam Altman, aims for grid-ready fusion by the 2030s with its innovative pulsed magneto-inertial fusion approach. TAE Technologies is pioneering hydrogen-boron fusion, which promises aneutronic reactions with minimal radioactive waste. General Fusion, supported by Jeff Bezos, is working on magnetized target fusion, a hybrid approach combining elements of inertial and magnetic confinement. First Light Fusion explores projectile-driven inertial fusion, reducing reliance on complex laser systems. While no company has yet achieved sustained net energy gain, advancements in materials science, machine learning, and high-energy physics are accelerating progress toward commercially viable fusion power, potentially transforming the global energy landscape.

What Next?

• Expect more nuclear power is in our future, but we have seen no realistic timelines indicating when new plants will come online for commercial use or government utilities. 
• Fusion seems to be in our future. But we make no assessments on when that will be.
• We are watching for changes to regulations from the government which could indicate quicker approvals and will continue to report on this as the environment becomes clearer.

Recent Reporting of Interest

• Convergence: Exponential Technologies Go Nuclear
• The Trend Of Corporate Nuclear Continues: Amazon Embraces Small Modular Nuclear Reactors for Sustainability
• Google Partners with Kairos Power to Develop Small Modular Nuclear Reactors to Power AI Needs
• The Future of the Energy Sector and AI Data Centers
• Meta turns to nuclear energy for its AI ambitions 
• Regulators deliver successive blows to Amazon and Meta’s nuclear power ambitions 
• Microsoft taps Three Mile Island nuclear plant to power AI 
• Google to buy nuclear power for AI datacentres in ‘world first’ deal 
• Tech Industry Wants to Lock Up Nuclear Power for AI 
• Bill Gates is going nuclear: How his latest project could power U.S. homes and AI 
• ChatGPT’s boss claims nuclear fusion is the answer to AI’s soaring energy needs. Not so fast, experts say