Nuclear reactor developer X Energy has filed to go public in the US, seeking to list its shares on NASDAQ under the ticker XE. It hopes to cash in on investors’ interest in nuclear power driven by AI energy demand.
Key Highlights
- X-Energy filed for a U.S. initial public offering.
- It intends to offer Class A shares on Nasdaq using the ticker symbol XE.
- The company’s portfolio includes more than 11 gigawatts of new nuclear generation in the US and UK.
- In 2025, Amazon and Jane Street co-led a $700 million funding round for X-Energy.
- IPO is led by eight big banks, including JPMorgan and Morgan Stanley.
X-Energy Seeks US IPO as Nuclear Power Stages a Comeback
X-Energy has filed for an initial public offering in the United States. The nuclear reactor developer announced the news on Friday as it seeks public money at a time when investors’ appetite for nuclear power is growing quickly.
The filing is fortuitous timing for the industry. America’s nuclear industry is experiencing a renaissance following years with little action. It is driven by surging electricity demand from AI data centres and from President Donald Trump’s aim to quadruple nuclear energy generation in the country by 2050.
What the IPO Will Look Like
X-Energy intends to list its Class A common stock on the Nasdaq stock exchange under the trading symbol XE. The company hasn’t yet specified how many shares it plans to sell or its expected price. Closer to the actual listing date, those details will be shared.
JPMorgan, Morgan Stanley, Jefferies, Moelis & Co., Cantor Fitzgerald, Guggenheim Securities, Nomura Securities, and TD Securities are underwriting the offering. That’s an impressive roster of banks at an early stage of development.
What X-Energy Is Building
X Energy is developing compact nuclear reactors that would be faster and cheaper to build than conventional large-scale plants. The company also has new nuclear capacity, more than 11 gigawatts of it, in commercial partnerships forming in the U.S. and the U.K.
It is also developing a new class of reactors that would use a more enriched variety of uranium called HALEU. None of these reactors has yet been granted regulatory licences. X-Energy, the statements said, plans to place its small reactors in Pennsylvania and within the power market through a partnership with independent power producer Talen Energy.
The Company Already Has Big Money Behind It
X-Energy has attracted significant investment from major players. In 2025, it secured $700 million in a funding round led by Amazon to finalise its reactor design and complete the licensing process. It subsequently raised another $700 million in a different round directed by trading firm Jane Street.
It is among a handful of nuclear companies to strike supply agreements with large technology firms and utilities aiming to secure clean, reliable power for their data centres and operations.
FAQs
- What has X-Energy filed for?
An initial public offering in the United States, planning to list Class A shares on the Nasdaq under the ticker “XE.”
- What is X-Energy’s private investment total?
$1.4 billion in 2025, $700 million led by Amazon, plus $700 million led by Jane Street
- Why is nuclear power getting this level of investment?
This means AI data centres require huge amounts of power. Nuclear provides a large-scale clean and reliable source of energy.
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