In a significant step toward reshaping the future of clean energy, TerraPower, the nuclear energy startup founded by Bill Gates, has secured a new $650 million funding round to support the construction of its first commercial power plant. Among the notable new investors is Nvidia, whose venture capital arm, NVentures, marked its first foray into the energy sector with this investment.
Other returning investors include Bill Gates himself and HD Hyundai, both of whom are already on the company’s cap table.
Nuclear Power Meets Silicon Valley Ambitions
Interest in advanced nuclear technology is surging, particularly among hyperscale tech companies, data center operators, and now chipmakers. Nvidia’s participation signals growing awareness among computing giants that their power-hungry infrastructure needs sustainable, high-capacity energy sources.
As the AI revolution accelerates, the data centers powering it require round-the-clock, carbon-free electricity — something nuclear energy is uniquely positioned to provide.
Wyoming’s Reactor Project Underway
TerraPower began early-stage construction in Wyoming in June 2024. While the company has not yet received regulatory approval for the reactor itself, it anticipates obtaining permits by 2025. This timeline appears plausible given the current political climate, especially the favorable stance toward nuclear development under the Trump administration.
Once operational, TerraPower’s Natrium reactor will generate 345 megawatts of electricity — a hybrid scale between today’s large conventional reactors and future small modular designs.
What Makes Natrium Different?
Unlike traditional reactors cooled with water, Natrium reactors use molten sodium. The design intentionally includes more sodium than needed just for cooling, allowing the system to store thermal energy when electricity demand is low.
That stored heat can then be used later to generate electricity during peak demand periods, providing a built-in energy buffer. TerraPower’s system is designed to deliver up to 500 megawatts for more than five hours, offering a potential solution to the intermittent nature of renewable sources like wind and solar.
A Second Shot at Innovation
TerraPower originally pursued a different reactor design but pivoted to Natrium after facing regulatory and technical challenges. The company now claims it can complete a reactor within three years of pouring the first concrete, although significant site preparation must still take place.
While the first plant is expected to be less expensive than recent U.S. reactors, the price tag remains steep. Estimates suggest a total cost of $4 billion, with half of the funding potentially coming from the Department of Energy.
The Bottom Line:
Nvidia's investment represents more than just capital — it's a sign that the tech industry is looking toward nuclear power as a backbone for the future of AI and data infrastructure. With Gates, Hyundai, and now Nvidia behind it, TerraPower is positioning itself at the forefront of a long-awaited nuclear renaissance.
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