Bezos Just Reshaped The Space Market -- Now He's Going Atomic With X‑Energy's IPO - Amazon.com (NASDAQ:AMZ

Amazon Goes Nuclear

In 2024, Amazon invested $500 million in a Series C-1 funding round for X-energy, a nuclear startup.

X-energy, which is working on developing small modular nuclear reactors (SMRs) is gearing up for an IPO that could see the company raise over $800 million, as reported by TechCrunch.

The IPO could put nuclear stocks in the spotlight once again and also highlight Amazon's stake in the company and partnership.

According to TechCrunch, Amazon is one of the biggest backers of X-energy thanks to its early investment. X-energy has raised a total of around $1.8 billion and previously tried to go public via SPAC merger, before the deal was called off in 2023.

New nuclear reactors have become a big topic as the United States looks for more energy sources to power big data centers and the growing demand for AI. X-energy is one of several companies in the race to try and build new nuclear power plants.

Amazon has a deal in place to buy up to 5 gigawatts of nuclear power from X-energy by the year 2039. The ecommerce giant also has deals in place with Energy Northwest and Dominion Energy for future nuclear power.

Growing Beyond Ecommerce

Along with being an ecommerce powerhouse, Amazon has diversified its offerings to include streaming, consumer products, satellites and cloud services.

Amazon has become one of the biggest spenders on data centers in recent years, betting on future energy demand for its AI products and cloud computing needs.

That deal is expected to boost Amazon's presence in satellites and be a bigger competitor to Starlink. Amazon is expected to grow its internet and mobile offerings in the future after the acquisition is completed.

After being categorized as a cloud and AI growth stock in 2025, Amazon could see investors bet on its exposure to space and nuclear power in 2026.

Image via Shutterstock

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.