Amazon-Supported X-energy Soars 27% in Nasdaq Introduction
X-energy Inc., backed by Amazon, made a remarkable entrance into the public market on Friday, April 24, 2026. The nuclear reactor developer’s shares surged by 27%, raising approximately $1.02 billion in its initial public offering. This Maryland-based company priced its upsized offering of 44.3 million shares at $23 per share, significantly above the initial range of $16-$19.
Trading under the ticker symbol “XE” on the Nasdaq Global Select Market, X-energy’s shares opened at $30.11. This opening gave the company a market valuation nearing $12 billion. The IPO was heavily oversubscribed, with demand surpassing available shares by more than 15 times, as per reports.
X-energy is a developer of small modular reactors (SMRs) and advanced nuclear fuel technology. The company is positioning itself to meet the escalating electricity demand from AI data centers, manufacturing reshoring, and electrification. X-energy has secured an order pipeline of over 11 gigawatts through partnerships with tech giants including Amazon, Dow Chemical, and Centrica. However, it has not yet commenced construction on any reactor facilities.
The successful IPO signifies a crucial turning point for the advanced nuclear sector. This success comes as competitors Oklo and NuScale Power experienced a decline in their shares following the news. X-energy is the first major advanced reactor company to pursue a traditional IPO route rather than a SPAC merger. CEO Clay Sell referred to Amazon’s commitment as a “game changer” for the company’s path to market.
Source: CNBC