Amazon Web Services (AWS) is committing more than $500 million to nuclear power projects across the U.S., aiming to address its growing energy needs, especially for AI-driven services. AWS has announced three major initiatives, including a partnership with Dominion Energy to develop small modular reactors (SMRs) near Virginia’s North Anna nuclear station, expected to bring at least 300 megawatts of power to the region.
AWS also plans to collaborate with Energy Northwest to build four SMRs in Washington state, with the potential for additional reactors. These investments highlight AWS’s strategy to meet the rising electricity demands of its data centers while advancing its net-zero carbon goals. The move reflects a broader trend among tech giants like Google and Microsoft, which are also exploring nuclear energy to power their operations.
The SMRs will be developed with technology from Maryland-based X-energy, a developer of SMRs and fuel. Along with Amazon’s other announcements, Amazon’s Climate Pledge Fund disclosed it is the lead anchor in a $500 million financing round for X-Energy. The Climate Pledge Fund is its corporate venture capital fund that invests in early-stage sustainability companies. Other investors include Citadel founder and CEO Ken Griffin, affiliates of Ares Management Corp., NGP and the University of Michigan.
Virginia Governor Glenn Youngkin praised the initiative, seeing it as positioning the state as a hub for nuclear innovation. AWS CEO Matthew Garman emphasized the importance of clean, reliable power as the company scales its operations, including AI advancements.
″These SMRs will be powering directly into the grid, so they’ll go to power everything, part of that is the data centers, but everything that is plugged into the grid will benefit,” Garman added.
“Small modular nuclear reactors will play a critical role in positioning Virginia as a leading nuclear innovation hub,” said Virginia Gov. Glenn Youngkin in a release. “Amazon Web Services’ commitment to this technology and their partnership with Dominion is a significant step forward to meet the future power needs of a growing Virginia.”
In addition to these projects, Amazon’s Climate Pledge Fund is leading a $500 million financing round for X-energy, a company developing advanced SMR technology. These investments come amid growing federal support, with U.S. Energy Secretary Jennifer Granholm announcing $900 million in funding to deploy more SMRs.
The Biden administration has funneled billions of dollars into clean energy production. As part of this AWS announcement, U.S. Energy Secretary Jennifer Granholm said $900 million of new funding is now available for those looking to deploy more SMRs.
