Amazon’s major investment has sparked significant renewed interest
Investors often operate with notoriously short-term time horizons. But now that nuclear power is suddenly hip, given its ties to artificial intelligence and roaring demand for power-hungry data centres, long-term thinking is in.) announced a major investment in power projects to feed its rising need for new, stable sources of clean energy – becoming the latest big tech company to pursue nuclear ambitions. Microsoft, Google and Oracle also have plans to harness nuclear power.
Still, they aren’t exactly speedy builds right now in these relatively early days for the advanced technology. “We currently see uranium demand growing by 3.5 per cent annually to 2035 from traditional reactors. However, big tech could supercharge this,” Katie Lachapelle, an analyst at Canaccord Genuity, said in a note.), which is developing proprietary SMR technology, soared 34 per cent on Wednesday, bringing its year-to-date gain to 480 per cent.) – in its wake in 2024. The company is now valued at US$4.6-billion, based on the total of its outstanding shares midday Thursday.
Power Energy Demand Amazon Stock Company Inc Three Mile Island Oracle Corp. Nvidia Corp.
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