Key Points
- Major companies pledged to triple global nuclear capacity by 2050, made at the CERAWeek conference and facilitated by the World Nuclear Association.
- Industries like maritime, aviation, and oil and gas are expected to join the initiative.
- Uranium prices have surged due to supply disruptions, with major production concentrated in Kazakhstan, Canada, and Australia.
- Amazon, Meta, and Google are exploring small modular reactors to power data centers.
Leading corporations, including Amazon (AMZN.O) and Google (GOOGL.O), have signed a pledge to support the goal of tripling global nuclear energy capacity by 2050. This commitment was announced on the sidelines of the CERAWeek conference in Houston, highlighting the growing corporate interest in nuclear energy as a sustainable power source.
Other signatories include U.S. shale company Occidental (OXY.N) and Japanese heavy machinery manufacturer IHI Corp (7013.T). The pledge, facilitated by the World Nuclear Association (WNA), aligns with a broader initiative signed by over 30 countries in 2023 to triple nuclear capacity within the next 25 years.
The U.S. Energy Secretary Chris Wright emphasized nuclear power’s transformative potential, stating, “We are truly at the beginning of a new industry.” In the coming months, the WNA expects additional support from maritime, aviation, and oil and gas industries, accelerating nuclear energy adoption.
According to the WNA, nuclear energy currently generates 9% of the world’s electricity through 439 reactors. As a reliable and clean power source, it has gained traction among technology giants to support their energy-intensive data centers. Companies like Amazon and Meta are actively exploring small modular reactor (SMR) projects, which offer a more scalable and efficient approach to nuclear power generation.
The increasing interest in nuclear energy coincides with rising uranium prices. In January 2024, uranium oxide prices reached their highest level in over 16 years due to supply disruptions and increased demand. This trend began in 2021 when COVID-19 lockdowns affected global supply chains. Despite demand growth, uranium production remains highly concentrated, with Kazakhstan, Canada, and Australia accounting for nearly two-thirds of global output.
As of early 2025, the world had approximately 411 operational nuclear power reactors, totaling 371 gigawatts. With corporations investing billions in nuclear projects, nuclear power is emerging as a key solution to meet rising energy demands while supporting global sustainability goals.
