Amazon, Google, Microsoft and other big tech companies are turning to nuclear power to power AI, which needs more power as it becomes more complex. Last month, Amazon invested 500 million dollars in nuclear power and Google signed the first nuclear power agreement. In September, Microsoft moved to reopen Three Mile Islandthree-mile nuclear power plant near Harrisburg, Pennsylvania, to supply AI's power needs.
Not all of Big Tech's nuclear efforts have gone smoothly: Earlier this month, Meta's plans to open a nuclear power plant were stopped when the company found a rare species of bee near the plant. Meta also faced regulatory challenges in trying to open the plant.
James Walker is the CEO of NANO Nuclear Energy, the first nuclear microreactor company listed on the NASDAQ. A microreactor is small enough to be moved by a truck, and it converts heat from a nuclear reaction to electricity.
At the time of this writing, NANO market cap it was about $700 million; was founded in 2022.
Related: Google follows Microsoft's lead with nuclear power for AI
In an exclusive interview, Walker said entrepreneur about the advantages and disadvantages of nuclear power and the most difficult part of building a nuclear startup. It also identified areas where new businesses could thrive. Answers have been edited for length and clarity.
Entrepreneur: What are the positive and negative sides of opening nuclear power plants?
Walker: On the other hand, it brings to the Internet a massive, established source of reliable, carbon-free energy — something that's essential as energy requirements fly up
The downside is that older plants need significant upgrades to meet modern safety standards, which can be costly and time-consuming.
Does nuclear power provide a viable alternative to traditional methods of powering AI?
Absolutely. AI-driven data centers need stable, high-output power around the clock, and traditional renewables like solar and wind, while valuable, simply cannot provide this alone.
Related: Will it take nuclear power to support AI? Microsoft is betting on it.
Nuclear power, especially with innovations like microreactors, offers a sustainable, carbon-free state energy source well adapted to AI requirements. It's a crucial piece of the puzzle if we want to keep pushing the boundaries in AI without running into power limitations.
Why start a nuclear power company?
Fossil fuels have come a long way, but we know they are neither sustainable nor efficient enough to support tomorrow's energy demands.
Nuclear power, especially with advances in microreactor technology, gives us a unique way to generate clean, sustainable energy that can be deployed anywhere, which even gives it a huge advantage over all other renewable sources.
Related: Nvidia CEO Jensen Huang Says Nuclear Power “Is a Great Way Forward” for AI Data Centers
Are there areas or industries where you see problems that new businesses can solve?
An area ripe for innovation is energy storage and the wider renewables sector. Battery technology is advancing, but there is still a lot of potential for new businesses to find ways to efficiently store, distribute and use renewable energy.
Another great area is logistics of nuclear fuel and material transport, especially for safe and cost-effective handling.
Furthermore, we need more solutions for recycling and reducing waste in energy production – not just nuclear, but across all sectors. There is a huge market for new ideas that can keep costs down while addressing environmental concerns head-on.