Nuclear Power Emerges as a Tech Savior
Nuclear power is making a comeback, driven by the insatiable energy needs of artificial intelligence and a surprising turn by tech giants. This shift has even drawn the attention of former President Trump, who has proposed leveraging US expertise to revitalize Ukraine’s energy grid with nuclear plants.
The renewed interest in nuclear energy marks a stark contrast to the recent embrace of renewable sources like wind and solar, which are now being reevaluated by major tech companies. These companies had previously championed “clean energy” initiatives as part of the ESG agenda. However, the unreliability and insufficient power output of these alternative sources have prompted a reconsideration, leading to a pivot toward nuclear.
Mark Nelson, Founder & Managing Director at Radiant Energy Group, noted the irony of the situation. “Tech companies spent a decade loudly claiming that they were powered solely by renewables, undercutting both the financial and cultural foundation for the nuclear energy they’ve suddenly realized they need,” he stated.
Tech Giants Invest in Nuclear
Microsoft, in partnership with Constellation Energy, is spearheading the restart of the Three Mile Island nuclear plant, infamous for its 1979 meltdown. While one reactor was decommissioned in 2019, Microsoft is taking over the site’s other reactor. Simultaneously, Amazon, Google, and Meta are also investing in nuclear energy. Apple has quietly updated its definition of clean energy to include nuclear power, expanding its perspective beyond the limits of solar, wind, and hydroelectric sources.
The Looming Energy Demand
The United States currently operates 54 commercial nuclear power plants across 28 states. To meet the growing energy demands of AI, expected to increase from consuming 4% to 12% of the country’s electricity, the US must significantly boost its energy output. Nuclear energy offers a potent low-carbon energy source, but risks exist, as seen in Chernobyl and Fukushima. However, with today’s advanced technologies, these risks are diminishing.
The Unexpected Return of Enron
Adding an unexpected twist to the nuclear resurgence is the comeback of Enron, the Texas energy giant notorious for its accounting fraud. The company is led by Connor Gaydos, the 28-year-old CEO, who gained notoriety as an internet troll.
Gaydos told the press, “Enron is this young, fresh, innovative place for people to team up and come up with solutions to our biggest problems. And nuclear is the perfect place for us to start.”
Enron has filed an application with Texas regulators to begin providing energy to residents. The company has also hired Gregory Forero, a former executive at Constellation, to lead its foray into retail electricity, with plans to expand its operations across the US. Given Elon Musk’s hypothesis that “the most entertaining outcome, especially if ironic, is most likely,” perhaps there is a real chance for Enron’s return.
