Nuclear Energy Startup Backed by Bill Gates Raises $650M From Nvidia, HD Hyundai, and Others
TerraPower’s latest funding round boosts its efforts to build next-generation nuclear energy solutions as demand surges from AI and data centers.
TerraPower, the nuclear energy company founded by Bill Gates, has secured $650 million in fresh funding. The investment comes from Nvidia’s venture arm, HD Hyundai, and other existing backers, underscoring growing interest in nuclear energy as industries seek cleaner and more reliable power sources.
Based in Bellevue, Washington, TerraPower has now raised a total of $1.4 billion. The company is currently building a 345-megawatt nuclear power plant in Kemmerer, Wyoming, on the site of a former coal plant. Regulatory approval for the project is expected next year.
Founded in 2006 by Gates and other climate-conscious investors, TerraPower is advancing nuclear energy technology to help meet the rising power needs of modern infrastructure—especially those driven by artificial intelligence and high-performance computing.
“As AI continues to grow, nuclear energy will play a critical role in supporting the infrastructure behind it,” said Mohamed “Sid” Siddeek, vice president at NVentures, Nvidia’s investment arm. “TerraPower’s reactor designs provide a clean, sustainable solution for global energy challenges.”
Advertisement
Multiplier | The World's Leading Global Human Platform
Multiplier is a leading global employment platform that manages employment, payroll & compliance for International Teams. Multiplier makes it easy to hire, onboard, manage, and pay employees and contractors around the world. We offer end-to-end global employee management – All in one place!
The funding comes amid a renewed push for alternative energy solutions, even as 2024 saw a slowdown in clean tech venture capital.
Other companies in the nuclear energy and fusion sector have also attracted major investment:
- Commonwealth Fusion Systems in Massachusetts has raised $2 billion to develop fusion-based power.
- Helion Energy, based in Everett, Washington, has secured $1 billion.
- Pacific Fusion in California has raised $900 million.
- Shine Technologies from Wisconsin has attracted $774.2 million.
- NuScale Power in Oregon has raised nearly $470 million for its small modular reactor technology.
- General Fusion, located in British Columbia, has secured $370 million.
- Zap Energy, also in Everett, has raised $337.8 million for its compact fusion systems.
- Nano Nuclear Energy, a New York company developing small modular and advanced reactors, has raised $229.1 million.
These investments highlight a growing belief that nuclear energy—whether fission or fusion—will be essential in delivering stable, carbon-free power for the future.