Bill Gates' nuclear energy startup TerraPower has secured $650 million in funding, with participation from NVIDIA's venture capital division
Bill Gates' nuclear energy startup TerraPower announced on Wednesday that it has completed a $650 million funding round, with NVIDIA's venture capital arm NVentures participating as a new investor. Other investors include Bill Gates and South Korean shipbuilding giant HD Hyundai. TerraPower is currently preparing for regulatory approval for its first commercial nuclear reactor next year. TerraPower's first Natrium reactor will become the first commercial advanced nuclear power plant in the United States, utilizing a streamlined construction process. The company initiated non-nuclear construction activities at its first nuclear power plant site last year. The latest funding round marks a deepening connection between artificial intelligence and advanced nuclear energy, as technology companies accelerate their efforts to secure reliable, clean energy sources. Mohamed Siddeek, Vice President of NVIDIA and head of NVentures, stated, "As artificial intelligence continues to transform various industries, nuclear energy will become one of the more critical energy sources supporting these capabilities."
According to the Zhitong Finance APP, TerraPower, the nuclear energy startup founded by Bill Gates, announced on Wednesday that it has completed a $650 million financing round, with NVIDIA's (NVDA.US) venture capital arm NVentures participating as a new investor. Other investors include Bill Gates and South Korean shipbuilding giant HD Hyundai.
Currently, TerraPower is preparing for regulatory approval for its first commercial nuclear reactor next year. TerraPower's first Natrium reactor will become the first commercial advanced nuclear power plant in the United States, utilizing a streamlined construction process. The company has already initiated non-nuclear construction activities at the site of its first nuclear power plant last year.
The latest financing round marks a deepening connection between artificial intelligence and advanced nuclear energy, as technology companies accelerate their efforts to secure reliable and clean energy sources. Mohamed Siddeek, Vice President of NVIDIA and head of NVentures, stated, "As artificial intelligence continues to transform various industries, nuclear energy will become one of the more critical energy sources supporting these capabilities."
