Nuclear power is making a remarkable comeback in the U.S., driven by the insatiable energy needs of Big Tech. As AI data centers and cryptocurrency mining operations demand ever-increasing amounts of electricity, nuclear energy is emerging as a viable solution to meet these needs efficiently and sustainably.
The Role of Big Tech
Tech giants like Google, Microsoft, Amazon, and Meta are leading the charge. These companies require immense amounts of power for their hyperscale data centers, which are integral to AI and other data-intensive technologies. In Ireland, data centers already account for over 20% of the country’s electricity usage, while in some U.S. states, the figure exceeds 10%.
Microsoft recently made headlines by signing a deal with Constellation Energy to restart a nuclear reactor at the historic Three Mile Island. This move is particularly noteworthy given Three Mile Island’s association with past nuclear risks. The decision signals a renewed confidence in nuclear power as a reliable and clean energy source.
Public Perception is Changing
For decades, public attitudes toward nuclear energy were largely negative, influenced by high-profile disasters and concerns over radioactive waste. However, these views are shifting. The global push for clean energy, coupled with economic pressures to reduce reliance on fossil fuels, has reshaped the narrative. Nuclear energy is now being recognized as a low-carbon, high-efficiency option that can complement renewable sources like wind and solar.
Key Players in the Nuclear Renaissance
This resurgence has also spotlighted innovative companies like NuScale Power and Oklo, which are pioneering advanced nuclear technologies. NuScale specializes in small modular reactors (SMRs) that are safer, more affordable, and easier to deploy than traditional reactors. Oklo focuses on micro-reactors that can serve smaller communities or remote locations. Both companies have seen their stock prices rise significantly over the past year, reflecting growing investor confidence in the nuclear sector.
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