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VCs Have Poured Billions Into Small Modular Reactors Amid AI Race
Big Tech companies are eyeing small modular reactors as an AI energy solution — even as some remain unsure about its potential. There's no official standard that defines a small modular reactor, or SMR, according to two leading nuclear experts who spoke with Business Insider. The industry consensus is that they produce less power — around 300 megawatts instead of the 1,000 megawatts, or 1 gigawatt — than a traditional reactor.
The SMR playing field is also relatively small. Data compiled from CB Insights and Pitchbook showed that over the past eight years, only four companies received about 92% of the nearly $3.2 billion in equity funding that went to SMR-focused firms. Those companies include X-energy, Bill Gates' Terrapower, NuScale, and the Paris-based Newcleo.
It's new, and it's old at the same time, Allison MacFarlane, former US Nuclear Regulatory Commission chairman, said of SMRs in an interview with Business Insider. MacFarlane was referring to how many SMR designs have yet to be demonstrated in real life, but the technology the reactor is based on has been around for many decades.
Tech companies like Alphabet, Amazon, and Microsoft are investing in the technology with the hope of finding a sustainable and reliable energy source to meet the increasing power demands of artificial intelligence and data centers.
In a March report, the Center for Strategic & International Studies estimated that new energy demands for all US data centers will reach 40 to 90 gigawatts by 2030. That's equivalent to simultaneously powering four to nine New York Cities during peak demands in the middle of the summer.
More on Small Modular Nuclear Reactors on Business Insider
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By Bruce BurkeBig Tech companies are eyeing small modular reactors as an AI energy solution — even as some remain unsure about its potential. There's no official standard that defines a small modular reactor, or SMR, according to two leading nuclear experts who spoke with Business Insider. The industry consensus is that they produce less power — around 300 megawatts instead of the 1,000 megawatts, or 1 gigawatt — than a traditional reactor.
The SMR playing field is also relatively small. Data compiled from CB Insights and Pitchbook showed that over the past eight years, only four companies received about 92% of the nearly $3.2 billion in equity funding that went to SMR-focused firms. Those companies include X-energy, Bill Gates' Terrapower, NuScale, and the Paris-based Newcleo.
It's new, and it's old at the same time, Allison MacFarlane, former US Nuclear Regulatory Commission chairman, said of SMRs in an interview with Business Insider. MacFarlane was referring to how many SMR designs have yet to be demonstrated in real life, but the technology the reactor is based on has been around for many decades.
Tech companies like Alphabet, Amazon, and Microsoft are investing in the technology with the hope of finding a sustainable and reliable energy source to meet the increasing power demands of artificial intelligence and data centers.
In a March report, the Center for Strategic & International Studies estimated that new energy demands for all US data centers will reach 40 to 90 gigawatts by 2030. That's equivalent to simultaneously powering four to nine New York Cities during peak demands in the middle of the summer.
More on Small Modular Nuclear Reactors on Business Insider
I’ve partnered with DBC Technologies and I am now consulting with companies who are interested in automating inbound and outbound messaging with AI Voice Agents.
Web AI Chatbots, Inbound / Outbound AI Voice Agents, AI Marketing & Consulting
If you are interested in AI Voice Agents for your business or organization message me.
Thats all for today, but AI is moving fast - subscribe and follow for more Neural News.
Get full access to Neural News Network at remunerationlabs.substack.com/subscribe