Nvidia Backs Terrapower with $650 Million Funding Round
Nvidia recently participated in a $650 million funding round for Terrapower LLC, a nuclear energy startup established by Bill Gates. The company aims to advance its plans for new reactor projects in Wyoming.
According to reports, this funding round attracted existing and new investors, including Nvidia’s venture capital branch. This is significant for Terrapower, especially as interest in nuclear energy is rising domestically, particularly to support the energy needs of AI data centers.
Founded in 2006, Terrapower’s goal is to leverage advanced nuclear technologies to offer affordable, low-carbon energy solutions. This is aimed at meeting the increasing demand for electricity driven by economic growth, while also tackling industrial carbon emissions and other pressing issues, like poverty. The newly raised capital will help kickstart the construction of its first Natrium plant.
The Natrium system combines a rapid reactor with gigawatt-scale energy storage, utilizing sodium as a coolant. The design allows for increased electricity production during peak demand and integrates seamlessly with more erratic energy sources like wind and solar. Last year, Terrapower initiated construction on the Natrium Demollation Project and hopes to secure regulatory approval for the reactor next year.
Chris Levesque, Terrapower’s President and CEO, expressed excitement over the successful fundraising, stating that the company was founded on the belief that innovations in nuclear science could positively impact the world.
Nvidia’s participation reflects a growing interest in nuclear solutions among tech companies to manage the environmental impact of increasing data center emissions. Companies like Google, Meta, and Amazon have also engaged in significant nuclear agreements, recognizing the potential of nuclear power to meet energy demands while reducing ecological footprints.
Previously, Microsoft announced plans to resurrect its inactive nuclear reactor at the infamous Three Mile Island facility to support the energy needs of its data centers. They have signed a contract with Constellation Energy, the largest nuclear reactor operator in the United States, to bring back one of the two reactors that had been shuttered after a major accident nearly half a century ago. This $1.6 billion investment aims to revive the facility by 2028 to ensure a steady supply of carbon-free electricity.
Mohamed Siddeek, Nvidia’s Corporate Vice President, pointed out that as AI continues to evolve, nuclear energy will play a crucial role in powering these advancements. He believes Terrapower’s technology will deliver innovative, low-carbon solutions with minimal environmental impact.
This funding comes on the heels of an executive order from President Trump that demonstrates federal support for the commercial rollout of next-gen nuclear technologies. Furthermore, a recent update from the European Commission outlines that by 2050, over 240 billion euros (approximately $275 billion) in public and private investment will be necessary to enhance nuclear power capabilities in the region, with substantial funds earmarked for both new reactors and maintaining existing ones.
