SA国际传媒

-founded nuclear startup raised $650 million from the billionaire software entrepreneur, , and existing investors as the tech industry continues to seek new sources of energy amid the power-hungry AI boom.

Bellevue, Washington-based TerraPower has now raised $1.4 billion from investors, per , making it one of the most well-funded startups working on nuclear-related technologies.

The company was founded in 2006 by Gates and other climate-focused investors. It is in the midst of building a 345-watt nuclear power plant at the site of a retiring coal plant in Kemmerer, Wyoming. It hopes to secure regulatory approval for the reactor next year, it said.

The deal comes amid heightened interest in new energy sources to power artificial intelligence data centers, but as venture funding to cleantech posted a lackluster year in 2024.

鈥淎s AI continues to transform industries, nuclear energy is going to become a more vital energy source to help power these capabilities,鈥� , corporate vice president at

NVentures, 鈥檚 venture arm, said in a statement. 鈥淭erraPower’s nuclear reactor technologies offer innovative, carbon-free solutions to meet global energy needs while minimizing environmental impact.鈥�

Other nuclear-power related startups that have raised significant funding include many working on fusion-related technology:

• , a Cambridge, Massachusetts-based spinoff working on fusion technology, has raised $2 billion from investors, per .
• , an Everett, Washington-based startup also developing fusion power, has raised $1 billion.
• , a Fremont, California-based fusion startup, has raised $900 million to date.
• has raised $774.2 million thus far. The Janesville, Wisconsin-based company is working on fusion technology for energy generation and other applications.
• , a Corvallis, Oregon-based company that says it has developed a small modular reactor to supply energy for electrical generation and other applications, has raised nearly $470 million from investors to date.
• , a British Columbia-based startup developing magnetized target fusion technology, has raised $370 million.
• , also based in Everett, has raised $337.8 million for its work on 鈥渃ompact fusion power鈥� that doesn鈥檛 require lasers or magnets.
• , a New York-based company that builds micro-small modular reactors and advanced nuclear reactors has raised $229.1 million to date, per .

Related SA国际传媒 queries:

Related reading:

• Fusion Startup Xcimer Lands $100M, Boosting Sector鈥檚 Lackluster Funding
• Venture Investors Put Billions Into Nuclear Fusion And Fission Projects
• Battery Tech And Fusion Dominate Big Energy Tech Funding Rounds
• Powering Up: Investors Warming To Nuclear Fusion

Illustration: