Westinghouse Electric is preparing for an initial public offering with a target valuation exceeding $50 billion. The company submitted a confidential draft registration statement to the SEC on July 31, 2026. Current owners, Brookfield Renewable Partners and Cameco Corp., acquired the business in late 2023 for approximately $8 billion.
Market analysts currently estimate the company's value between $26 billion and $30 billion. These figures are significantly lower than the company's IPO target. Brookfield holds a 51% stake, while Cameco retains 49%. The valuation gap between the acquisition price and the proposed IPO figure represents a sixfold increase.
In October 2025, the US government entered a partnership with the owners to deploy AP1000 reactors, targeting at least $80 billion in contracts. The agreement includes an option for the government to acquire up to a 20% equity stake in Westinghouse. This right is contingent on specific milestones, including the company reaching a $30 billion valuation by January 2029.
