How One Entrepreneur Started a $700 Million Nuclear Startup

Amazon, Google, Microsoft and other big tech companies are turning to nuclear power to fuel AI, which needs more energy as it grows more complex. Last month, Amazon invested $500 million in nuclear energy, and Google signed its first nuclear power deal. In September, Microsoft moved to reopen Three Mile Island, the three-mile nuclear plant near Harrisburg, Pennsylvania, to power its AI energy needs.

Not all of Big Tech’s nuclear efforts have gone smoothly: Earlier this month, Meta’s plans to open a nuclear power plant were halted when the company found a rare bee species next to the plant. Meta also faced regulatory challenges trying to open the plant.

James Walker is the CEO of NANO Nuclear Energy, the first nuclear microreactor company listed on NASDAQ. A microreactor is small enough to be moved around by a truck, and it converts heat from a nuclear reaction into electricity.

At the time of this writing, NANO’s market cap was around $700 million; it was founded in 2022.

Related: Google Follows Microsoft’s Lead With Nuclear Power for AI

In an exclusive interview, Walker told Entrepreneur about the benefits and drawbacks of nuclear energy and the hardest part of building a nuclear startup. He also identified areas where new businesses can thrive. Responses have been edited for length and clarity.

Entrepreneur: What are the upsides and downsides of opening nuclear power plants?
Walker: On the upside, it brings online a massive, established source of reliable, carbon-free power — something that’s essential as energy demands soar.

The downside is that older plants need significant upgrades to meet modern safety standards, which can be costly and time-consuming.

Does nuclear energy create a viable alternative to traditional methods of powering AI?
Absolutely. AI-driven data centers need consistent, high-output power around the clock, and traditional renewables like solar and wind, while valuable, simply can’t provide that alone.

Related: Will It Take Nuclear Power to Sustain AI? Microsoft Is Betting on It.

Nuclear energy, particularly with innovations like microreactors, offers a steady, carbon-free energy source well-suited to AI’s demands. It’s an essential piece of the puzzle if we want to continue pushing boundaries in AI without running into power limitations.

Why start a nuclear energy company?
Fossil fuels have gotten us far, but we know they’re neither sustainable nor efficient enough to support the energy demands of tomorrow.

Nuclear energy, especially with advances in microreactor technology, gives us a unique way to generate clean, consistent power that can be sited anywhere, which even gives it a big advantage over all other renewables.

Related: Nvidia CEO Jensen Huang Says Nuclear Energy ‘Is a Wonderful Way Forward’ to Keep AI Data Centers Running

Are there any areas or industries where you see problems that new businesses can solve?
One area ripe for innovation is energy storage and the wider renewable sector. Battery technology is advancing, but there’s still so much potential for new businesses to find ways to store, distribute and efficiently use renewable energy.

Another big area is the logistics of fuel transportation and nuclear materials, especially for safe and cost-effective handling.

Additionally, we need more solutions for recycling and reducing waste in energy production — not just nuclear, but across all sectors. There’s a huge market for new ideas that can keep costs low while addressing environmental concerns head-on.

Related: Amazon Is Going Nuclear, Joining Big Tech in the Race for More Power: ‘There’s Not Going to Be Enough Wind and Solar to Meet Needs’