The brief

Analyst view

• Its NRC licence application for four AP1000 reactors is the first for large US reactors accepted since 2009.
• First binding tenant: TensorWave, 222 MW for 15 years, about $6.5B, from late 2027.
• After the founder CEO's April 2026 exit, ex-TerraPower chief Lee McIntire took over in August 2026.

Technical approach

As reported

Gas first

Gas turbines bring power soonest

Gas turbines install in months, so they come first; three Siemens units rated up to 780 MW together reached Houston in July 2026.

Nuclear

Four AP1000s for the long run

Four Westinghouse AP1000 reactors, about 4.4 GW, would supply steady carbon-free power from the 2030s.

Behind the meter

Power made where it is used

Data centres take power straight from on-site plants instead of waiting years for a utility grid connection.

Leases

Tenants fund the build

Long leases to AI computing firms are meant to finance construction of both the data halls and the power plants.

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