Major corporations like Amazon and Google have joined a pledge to significantly expand the world’s nuclear energy capacity by 2050. The announcement was made on Wednesday during the CERAWeek conference in Houston.
Shale company Occidental and Japanese heavy machinery maker IHI Corp also signed the pledge. U.S. Energy Secretary Chris Wright, speaking to Reuters at the conference on Tuesday, noted, “We are truly at the beginning of a new industry.”
The World Nuclear Association (WNA), the nuclear industry group that initiated the pledge, anticipates more support from various sectors, including maritime, aviation, and oil and gas, in the coming months. This initiative builds upon a 2023 commitment from over 30 countries with the same goal of tripling nuclear capacity by 2050.
Nuclear energy provides approximately 9% of the world’s electricity, generated by 439 power reactors, according to the WNA. It’s becoming an increasingly attractive option for power-intensive data centers, with major tech companies already investing billions in deals with utilities.
In January 2024, uranium oxide prices, a key component in nuclear technology, reached their highest point in over 16 years due to supply chain concerns and escalating demand. This surge began in 2021 with disruptions caused by COVID-19 lockdowns.
While demand continues to rise, uranium supply remains limited. Kazakhstan, Canada, and Australia account for about two-thirds of global output, according to the WNA, as of 2022.
As of early 2025, the world had approximately 411 operational nuclear power reactors, with a combined capacity of 371 gigawatts. Amazon, which has invested over $1 billion in nuclear energy projects and technologies, is exploring small modular reactor projects. Meta and Google are also showing interest in this developing technology.
