Amazon is funding a 960-megawatt nuclear power plant in Indiana, which will be operated by American Electric Power. The facility will utilize 12 Xe-100 small modular reactors designed by X-energy, a company that went public in April 2026.
This project marks the second commercial agreement between Amazon and X-energy. Amazon previously led a $700 million Series C-1 funding round for the reactor developer in October 2024.
The companies aim to deploy 5 gigawatts of nuclear capacity across the United States by 2039. The electricity generated by the Indiana site will be supplied to the public grid and Amazon data centers.
The timeline for the Indiana project depends on the successful delivery of X-energy's first plant at a Dow Chemical site in Texas. That project is currently awaiting final construction permit approval.
X-energy's stock, which debuted on the Nasdaq at $23 per share, has declined by nearly two-thirds since its IPO. Following the announcement of the Amazon deal, shares saw a brief 10% rise.
