TerraPower is one of several companies racing to build smaller, more efficient reactors to augment electrical grids under strain from AI data centers. In a 2024 interview with The Verge, Bill Gates said that he also believes nuclear energy can help solve the climate crisis by using designs that minimize the problem in terms of their safety or fuel use or how they handle waste.
The company wants to give decommissioned nuclear reactors from the US Navy a second life as an energy source for large-scale AI infrastructure. As reported by SiliconANGLE , the plan comes from HGP Intelligent Energy, which is seeking financial support from the US Department of Energy through a loan guarantee. With this support, the company wants to launch a project aimed at providing continuous, sustainable power to data centers running heavy AI workloads.
Six of the seven have experienced mixed or negative returns at points throughout the year, with broad concerns over valuations, sector rotations, and sustainability weighing on performance. In contrast, one unexpected name has outperformed six of the seven: Caterpillar ( ), the heavy equipment manufacturer. On a total return basis (capital appreciation plus dividends), Caterpillar trails only Alphabet by about one percentage point or so as of last Friday's close.