Big tech is pivoting to nuclear energy, will the rest of the world follow?

Big tech is going big on nuclear, with Amazon becoming the newest addition to the club with a $500 million deal, joining Microsoft, Google, and Oracle by investing in nuclear projects to support surging data-center energy demand.

With powerful advances in generative AI, the US has become the fastest-growing market for data centers, according to McKinsey, which forecasts demand to more than triple by 2030 to 80 gigawatts. The boom has sent stock prices of nuclear-energy companies soaring, briefly making utilities the best-performing sector of the S&P 500 Index this year.

As commercial nuclear-power plants went global in the 1970s and ’80s, you’d have been forgiven for forecasting that nuclear output would’ve continued to grow, but globally it has plateaued for much of the 21st century, with disasters like Fukushima diminishing the appetite for new reactors.

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