Key Takeaways
- Tech giants Meta, Amazon, and Google have signed a pledge to support tripling nuclear production by 2050.
- The companies joined dozens of countries, banks, and companies within the nuclear industry who have signed the pledge.
- The tech industry has looked to nuclear energy in recent months to help power its expanding data centers and AI efforts.
Tech giants including Amazon (AMZN), Meta Platforms (META), and Alphabet’s (GOOGL) Google have signed on to a nuclear industry pledge to support tripling nuclear power capacity by 2050.
Alongside an energy conference in Houston this week, the tech firms joined dozens of other financial institutions, countries, and companies from the nuclear industry that have signed the pledge.
The World Nuclear Association said the pledge “recognizes nuclear’s potential to expand beyond traditional grid electricity, providing abundant, continuous energy to support successful and cost-competitive operations for energy users.” The organization said 439 active nuclear reactors currently provide about 9% of the world’s energy.
The tech heavyweights joining the pledge follows a trend of the companies looking to the nuclear industry as a promising power source for their expanding data center footprints to power artificial intelligence products.
That shift has also boosted a number of nuclear companies, as analysts have upgraded the stocks because of their potential to increase revenue as data centers continue to expand. Shares of Constellation Energy Group (CEG), Vistra (VST), Oklo (OKLO), NuScale Power (SMR), and GE Vernova (GEV) were all up in premarket trading.
Alphabet, Meta, and Amazon shares were also each rising Wednesday morning.
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