Amazon-backed X-Energy set to jump in debut after boosted $1 bln IPO

ReutersApr 24, 2026 2:46 PM

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Nuclear reactor developer X-Energy XE.O on course to jump in Nasdaq debut on Fri after well-received IPO

XE shares recently indicated to open at $29 vs $23 issue price

Rockville, Maryland-based firm, backed by Amazon.com AMZN.O, late Thurs sold about 44.3 mln shares for about $1.02 bln raise

Co had originally marketed offering of roughly 42.9 mln shares at $16-$19

Founded in 2009, XE develops small modular reactor (SMR) technology and manufactures fuel for advanced nuclear systems

Its IPO comes amid renewed interest in nuclear power, and as electricity needs surge, particularly from hyperscalers, to power AI data centers

Cloud giant AMZN first invested in XE in 2024, anchoring a $500 mln financing alongside Ken Griffin, CEO and founder of hedge fund Citadel, and affiliates of Ares Management ARES.N

Prior to the offering, AMZN was a 29% shareholder

JP Morgan, Morgan Stanley, Jefferies, and Moelis & Co leading the IPO

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