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NANO Nuclear (NNE), a company developing portable microreactors, had its initial public offering (IPO) in May 2024. Since then, the stock has grown more than 300%. CEO James Walker joins Seana Smith and Madison Mills to discuss the nuclear energy sector as Big Tech companies seek to use nuclear energy to power artificial intelligence (AI).
"There's a lot of enthusiasm for nuclear at the moment, but I think the thing that the industry is waiting to see [is] what will develop will be on the regulatory side," Walker says.
The CEO notes that Big Tech's need to power AI initiatives has fueled a renewed interest in nuclear energy, but the sector could provide power for other energy demands. "Obviously, it's known now that the US is going to have to have a huge increase in the amount of power ... not just for data centers, but just for the country in general, reindustrialization and electrification, but no one's really talked about why it has to be nuclear for the tech industry."
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"What it comes down to is that tech needs a lot of baseload power and the highest capacity factor," Walker explains. "The most consistent form of power is nuclear power because the downtime these data centers can tolerate on an annual basis is very small ... you can't say the same for any of the renewables: wind, solar, geothermal, hydro; they're very locationally dependent."
Walker adds, "It's going to be a long-term investment into nuclear. You're going to see a lot of growth. And it's going to be a year-by-year increase ... the Department of Energy is reinvesting a huge amount of money back into the country to build back nuclear infrastructure, and that's to enable us to, as a country, to be able to mass manufacture fuel."
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This post was written by Naomi Buchanan.