Are Big Tech's Nuclear Construction Deals a Tipping Point for Small Modular Reactors?

Fortune reports on "a watershed moment" in American's nuclear power industry:In January, Meta partnered with Gates' TerraPower and Sam Altman-backed Oklo to develop about 4 gigawatts of combined SMR projects - enough to power almost 3 million homes - for "clean, reliable energy" both for Meta's planned Prometheus AI mega campus in Ohio and beyond. Analysts see Meta as the start of more Big Tech nuclear construction deals - not just agreements with existing plants or restarts such as the now-Microsoft-backed Three Mile Island. "That was the first shot across the bow," said Dan Ives, head of tech research for Wedbush Securities, of the Meta deals. "I would be shocked if every Big Tech company doesn't make some play on nuclear in 2026, whether a strategic partnership or acquisitions." Ives pointed out there are more data centers under construction than there are active data centers in the U.S. "I believe clean energy around nuclear is going to be the answer," he said. "I think 2030 is the key threshold to hit some sort of scale and begin the next nuclear era in the United States." Smaller SMR reactors can be built in as little as three years instead of the decade required for traditional large reactors. And they can be expanded, one or two modular reactors at a time, to meet increasingly greater energy demand from 'hyperscalers,' the companies that build and operate data centers. "There's major risk if nuclear doesn't happen," Oklo chairman and CEO Jacob DeWitte told Fortune, citing the need for emission-free power and consistent baseload electricity to meet skyrocketing demand. "The hyperscalers, as the ultimate consumers of power are, are looking at the space and seeing that the market is real. They can play a major role in helping make that happen," DeWitte said, speaking in his fast-talking, Silicon Valley startup mode.

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