Mentioned:
NVDA -6.20% ASPI -15.81%
Nvidia is making a bet on something new: a nuclear reactor company started by Bill Gates.
What’s happening:
- Bill Gates’ nuclear startup TerraPower has raised $600M USD in a new strategic financing round
- The new funding saw participation from the venture capital arm of Nvidia (NASDAQ: NVDA), Bill Gates and HD Hyundai
Why it matters:
- TerraPower has developed a potential breakthrough nuclear reactor technology known as Natrium, which combines a sodium cooled fast reactor with large scale energy storage that is capable of integrating with renewable energy sources including solar and wind and is also purpose built to be able to be both safer and more cost efficient than traditional nuclear power plants
Going deeper:
- TerraPower is currently constructing their flagship nuclear power plant in Wyoming that is aiming to deploy the first advanced nuclear reactor at commercial scale in the United States of America
- TerraPower has raised over $1B USD in venture capital funding since inception and has also received approximately $2B USD in loans and grants from the United States Department of Energy
The intrigue:
- TerraPower previously made waves when they cut a deal with publicly traded isotopes company ASP Isotopes (NASDAQ: ASPI) to build out a new high enriched, low assay uranium production facility and get exclusive rights to all fuel produced by ASP Isotopes
