{"id":1491080,"date":"2024-09-20T13:00:00","date_gmt":"2024-09-20T17:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1491080"},"modified":"2024-09-20T13:00:00","modified_gmt":"2024-09-20T17:00:00","slug":"nuclear-names-surge-after-three-mile-island-planned-restart-to-power-microsoft-data-centers","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/nuclear-names-surge-after-three-mile-island-planned-restart-to-power-microsoft-data-centers\/1491080\/","title":{"rendered":"Nuclear Names Surge After Three Mile Island Planned Restart To Power Microsoft Data Centers"},"content":{"rendered":"

Nuclear Names Surge After Three Mile Island Planned Restart To Power Microsoft Data Centers<\/span><\/p>\n

\n

In what is going to be seen as a major tailwind for up and coming nuclear projects<\/strong>, the owner of Three Mile Island is investing $1.6 billion to revive the plant and has agreed to sell all of its output to Microsoft, which is seeking power for its data centers.\u00a0<\/strong><\/p>\n

Nuclear startup company Oklo<\/strong>, backed by OpenAI’s Sam Altman, is surging pre-market, up over 10% as investors get their first taste of what will likely be the primary source of power for AI in the decades to come.\u00a0<\/p>\n

<\/a><\/p>\n

Nuclear names like Cameco <\/strong>are also popping on the news before the cash open Friday morning.<\/p>\n

<\/a><\/p>\n

This momentum continues our\u00a0“Next AI Trade<\/a>” that we pointed out in April of this year, where we outlined various investment opportunities for\u00a0powering up America, playing out.<\/p>\n

The restart of Three Mile Island, specifically to sell energy to Microsoft to power its data centers, will be the most material advancement in the nuclear\/AI thesis since we first outlined it.<\/p>\n

Constellation Energy Corp. plans to restart the Three Mile Island reactor by 2028, according to a Friday statement. The reactor, closed in 2019 due to economic challenges, will reopen despite the site’s other unit being shut down nearly 50 years ago after a major nuclear accident,\u00a0according to Bloomberg<\/a>.<\/p>\n

The Bloomberg report<\/a> noted that\u00a0Microsoft has committed to a 20-year energy purchase from a nuclear facility, its first dedicated 100% nuclear energy deal.<\/strong> Financial details were not disclosed.<\/p>\n

Constellation Chief Executive Officer\u00a0Joe Dominguez\u00a0said:\u00a0\u201cPolicymakers and the market have received a huge wake-up call. There\u2019s no version of the future of this country that doesn\u2019t rely on these nuclear assets.\u201d<\/strong><\/p>\n

An Oklo SMR reactor prototype<\/a><\/p>\n

Constellation began exploring a restart of the reactor in early 2023 and decided to move forward, attracting Microsoft’s interest, the report says.<\/p>\n

Microsoft\u2019s nuclear energy purchase supports its goal to power its global data centers with clean energy by 2025, focusing on regions like Chicago, Virginia, Pennsylvania, and Ohio. The company\u2019s shift to AI is increasing demand for cloud computing, challenging its goal of becoming carbon negative by 2030. Microsoft spent over $50 billion on data-center expansion last fiscal year and expects to surpass that this year.<\/p>\n

Recall just days ago\u00a0it was reported that the two industry giants are prepping the launch of a $30 billion AI investment fund that’ll see\u00a0Microsoft build data centers and energy projects to meet the demands of AI,\u00a0according to the Financial Times<\/a>.<\/p>\n

BlackRock\u2019s new infrastructure investment unit, Global Infrastructure Partners, is launching a major investment fund with Microsoft and Abu Dhabi\u2019s MGX as general partners. Nvidia will provide advisory on factory design and integration.<\/p>\n

The\u00a0FT wrote<\/a>\u00a0that the partnership\u00a0aims to tackle the massive power and infrastructure needs of AI development, which is expected to strain current energy systems. AI\u2019s computing demands far exceed past technologies.<\/p>\n

<\/a><\/strong><\/p>\n

The partnership seeks to raise up to $30bn in equity, with plans to leverage an additional $70bn in debt.In a statement, Larry Fink said:\u00a0\u201cMobilizing private capital to build AI infrastructure like data centers and power will unlock a multitrillion-dollar long-term investment opportunity.\u201d<\/p>\n

Brad Smith, Microsoft\u2019s president, added:\u00a0\u201cThe country and the world are going to need more capital investment to accelerate the development of the AI infrastructure needed. This kind of effort is an important step.\u201d<\/strong><\/p>\n

Jensen Huang of Nvidia added:\u00a0\u201cAccelerated computing and generative AI are driving a growing need for AI infrastructure for the next industrial revolution.\u201d<\/p>\n

So Microsoft is on board…Larry Fink is on board…Jensen Huang is on board…and we’re guessing nuclear names haven’t even left the starting gate yet…<\/strong><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 09\/20\/2024 – 09:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/nuclear-names-surge-after-three-mile-island-planned-restart-power-microsoft-data-centers<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Nuclear Names Surge After Three Mile Island Planned Restart To Power Microsoft Data Centers In what is going to be seen as a major tailwind…<\/p>\n","protected":false},"author":0,"featured_media":1491081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1491080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1491080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1491080"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1491080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1491081"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1491080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1491080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1491080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}