On Monday (local time), $Alphabet(GOOG)$ said it had signed an agreement with Kairos Power to purchase electricity from 6-7 planned small modular nuclear reactors (SMRs) with a total capacity of 500 megawatt-hours to support the energy needs of its data centers and artificial intelligence.
Transaction details show that Kairos plans to deliver the reactors in 2030-2035, and the construction site has not yet been determined.
It is reported that Michael Terrell, senior director of energy and climate at Google, said that nuclear energy is essential to supporting Google's clean growth and the advancement of artificial intelligence. Michael Terrell also emphasized that the power grid needs these clean and reliable energy sources to support the development of these technologies.
After the above news came out, nuclear energy stocks rose. Among them, $Oklo Inc.(OKLO)$ $, a US nuclear energy startup invested by Sam Altman, rose 9.73% on Monday (local time), and its stock price rose again by 7.97% after the market.
In addition, the stock prices of the largest nuclear reactor operators in the United States, such as $Constellation Energy Corp(CEG)$, $Vista Energy(VIST)$, and uranium supplier $Cameco(CCJ)$ also rose.
It is worth mentioning that before Google, there were other technology giants that chose nuclear power.
In September, $Microsoft(MSFT)$ announced that it had signed a 20-year power purchase agreement with $Constellation Energy Corp(CEG)$ , the Three Mile Island Agreement, to restart the Three Mile Island nuclear power plant that was closed in 2019 and sell all the power generated to Microsoft.
Also in September, $Oracle(ORCL)$ Chairman Larry Ellison announced in a financial report conference call that the company is designing a data center that is expected to require more than 1 gigawatt of electricity, which will be powered by three small nuclear reactors.
In addition, $Amazon.com(AMZN)$ has said it will build a hyperscale data center and connect it directly to another nuclear power plant in Pennsylvania.
More nuclear power related stocks: $Rolls Royce Holdings plc(RYCEY)$ , $BWX Technologies Inc(BWXT)$ , welcome to add to our list.
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