Bellevue, WA – TerraPower, a nuclear innovation company founded by billionaire Bill Gates, has successfully raised $650 million in a new funding round to further the development of its advanced nuclear reactor project. The investment round, announced on June 18, 2025, attracted new contributions from NVentures, the venture capital arm of Nvidia Corp., alongside existing investors such as Gates himself and HD Hyundai, a prominent South Korean shipbuilder.
The latest funding underscores a significant intersection between the technology and nuclear sectors. As the demand for carbon-free electricity continues to grow, particularly to power data centers and artificial intelligence operations, companies like TerraPower are positioning themselves to meet this demand with clean and reliable energy solutions. "As AI continues to transform industries, nuclear energy is going to become a more vital energy source to help power these capabilities," Mohamed Siddeek, head of NVentures, stated in the announcement.
TerraPower is currently advancing a 345-megawatt power plant located at a retiring coal facility in Wyoming. Construction commenced a year ago on non-nuclear components of the project, and the company anticipates receiving federal approval for the reactor by 2026. The recent funding will be instrumental in maintaining momentum for this initiative.
Interest in nuclear power has experienced a resurgence after years of stagnation, largely driven by increased demands from the technology sector. TerraPower, for instance, has navigated challenges such as delays in its Natrium reactor's launch due to a shortage of high-assay low-enriched uranium (HALEU). However, an agreement with ASP Isotopes aims to produce HALEU at an undisclosed location, addressing this supply issue.
This venture is part of a broader trend where startups are increasingly pursuing nuclear technology to curb carbon emissions and support the energy needs of AI progress. With TerraPower's latest funding success and strategic partnerships, the company is at the forefront of a nuclear energy renaissance aimed at sustainable development.
