X-energy, a nuclear energy startup funded by Amazon.com, Inc., has submitted an application for an IPO in the United States, aiming to raise $300 million.

Small modular reactor developer and nuclear fuel producer X-Energy (XE.US) filed documents with the U.S. Securities and Exchange Commission (SEC) last Friday, aiming to raise up to $300 million through an initial public offering (IPO). X-Energy focuses on the design of advanced nuclear reactor technology, specifically in the small modular reactor (SMR) sector, while also engaging in nuclear fuel production. Its flagship product, Xe-100, is a high-temperature gas-cooled reactor designed to generate electricity and heat in a modular way. The company is dedicated to developing scalable nuclear systems to help meet the growing demand for electricity, including the power needs of high-energy consumption applications such as data centers. The company, headquartered in Rockville, Maryland, was founded in 2009. In the 12 months ending December 31, 2025, the company reported revenue of $1.09 billion. X-Energy plans to list on the Nasdaq under the stock symbol "XE". On November 12, 2025, X-Energy secretly submitted its listing application to the SEC. The joint book-running managers for this transaction include JPMorgan, Morgan Stanley, Jefferies Financial Group Inc., Moelis & Company, Cantor Fitzgerald, UBS Group AG investment bank, Nomura Securities, and others. It is worth noting that the background of this IPO is the United States is experiencing a new "nuclear renaissance". In 2025, e-commerce giant Amazon.com, Inc. (Amazon) led a private financing round for X-energy totaling $700 million and established a strategic partnership to jointly deploy over 5GW of new nuclear capacity by 2039. Meanwhile, the U.S. government's bias towards nuclear energy policy has also provided external impetus for X-energy. With the increasing demand for all-weather Clean Energy Fuels Corp., capital markets are significantly increasing their recognition of SMR technology. X-energy's successful listing will not only provide it with the necessary financial buffer but also serve as an important indicator of investor confidence in next-generation nuclear power technology.