TerraPower Announces $650 Million Fundraise
BELLEVUE, Wash.--(BUSINESS WIRE)--TerraPower, a leading nuclear innovation company, announced today the close of a $650 million fundraise.
This fundraise was comprised of both new investors, including NVentures, the venture capital arm of NVIDIA, and current investors, including TerraPower-founder Bill Gates and HD Hyundai, an industry leader in shipbuilding.
TerraPower is leading the advanced nuclear industry to market with its flagship Natrium® technology 1 – an advanced nuclear reactor paired with a gigawatt-scale energy storage system. TerraPower's first Natrium plant is slated to be the United States' first commercial, advanced nuclear power plant and showcases breakthroughs in safety, reliability, cost efficiency and streamlined construction. The company began non-nuclear construction activities on the site of the first plant last year and expects regulatory approval for the nuclear reactor next year.
'TerraPower was founded on the idea that innovation in nuclear science could make positive, global impacts. This round further establishes that our technologies are the solutions that industry is looking for,' said Chris Levesque, TerraPower President and CEO. 'We are proud to have NVIDIA join our visionary group of investors.'
'As AI continues to transform industries, nuclear energy is going to become a more vital energy source to help power these capabilities,' said Mohamed 'Sid' Siddeek, Corporate Vice President and Head of NVentures. 'TerraPower's nuclear reactor technologies offer innovative, carbon-free solutions to meet global energy needs while minimizing environmental impact.'
This capital raise builds on the support of TerraPower's current investors and supports both the first Natrium plant, along with the company's plans to rapidly deploy additional units in the U.S. and abroad. Nuclear power continues to see widescale interest across energy users; and federal support for deploying new plants was outlined last month in President Trump's executive orders.
UBS acted as the exclusive placement agent to TerraPower. TerraPower will continue to be a privately held company. Further terms of the fundraise were not disclosed.
About TerraPower
TerraPower is a leading nuclear innovation company that strives to improve the world through nuclear energy and science. Since it was founded by Bill Gates and a group of like- minded visionaries, TerraPower has emerged as an incubator and developer of ideas and technologies that offer energy independence, environmental sustainability, medical advancement and other cutting-edge opportunities. It accepts and tackles some of the world's most difficult challenges. Behind each of its innovations and programs, TerraPower actively works to bring together the strengths and experiences of the world's public and private sectors to answer pressing global needs. Learn more at terrapower.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
43 minutes ago
- USA Today
GoodData Recognized in 2025 Gartner(R) Magic Quadrant(TM) for Analytics and BI Platforms
GoodData recognized by Gartner® for ability to execute and completeness of vision. GoodData, the AI-native analytics platform, today announced its inclusion in the 2025 Gartner® Magic Quadrant™ for Analytics and Business Intelligence Platforms. Recognized as a Niche Player, GoodData was acknowledged for its ability to execute and completeness of vision. At the core of GoodData's platform is its composability strategy, powered by open source technology, multi-tenancy framework, and an open semantic layer, giving data teams the ability to define metrics once and reuse them across every dashboard, application, or tool in the enterprise. This ensures consistent, governed insights at scale while aligning analytics with business logic and objectives. 'GoodData was built for a world where analytics isn't a nice-to-have. It is a critical part of the enterprise data landscape, and we believe that our inclusion in the Gartner Magic Quadrant is a testament to the demand for interoperable analytics platforms that treat analytics as code and fit seamlessly into the modern DevOps and product development lifecycle.' Roman Stanek, CEO and Founder of GoodData. With its analytics-as-code approach, GoodData enables development teams to build and extend data experiences like any other software component. This empowers teams to automate development with CI/CD pipelines, fully customize the user experience through APIs and embedded components, and ensure trust in the data through automated testing and version control. Additionally, GoodData's commitment to interoperability sets it apart. Native features like FlexConnect and metadata ingestion from third-party BI tools allow teams to unify data across silos and ecosystems without duplicating or moving data. The platform's zero-copy architecture enhances performance while maintaining data integrity and governance. 'GoodData's flexibility to integrate into any backend setup has proven to provide maximum flexibility for our engineering needs.' VP, Product in the Banking sector; from Gartner® Peer Insights™ review 'The future of BI is not in monolithic dashboards – it's in flexible, embedded, and governed insights that live where decisions are made. By focusing on analytics-as-code and end-to-end composability, we're equipping data and product teams with the tools they need to innovate faster and smarter.' Ryan Dolley, VP of Product Strategy at GoodData In our opinion, GoodData's position in the Magic Quadrant underscores a market shift toward developer-centric analytics platforms that seamlessly integrate into today's complex data stacks and product environments. Read the full Gartner® Magic Quadrant™ report to see a complete analysis of GoodData's strengths and cautions. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant and Peer Insights are a registered trademark, of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences with the vendors listed on the platform, should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About GoodData GoodData is the AI-native analytics platform built for speed, scale, and trust, helping companies deliver real-time insights – embedded, branded, and everywhere your users need them. Founded in 2007, and with offices in both the U.S. and Europe, GoodData serves over 140,000 of the world's top companies and 3.2 million users, helping them drive meaningful change and maximize the value of their data. For more information, visit GoodData's website and follow GoodData on LinkedIn , YouTube , and Medium . GoodData Contact press@ ©2025, GoodData Corporation. All rights reserved. GoodData and the GoodData logo are registered trademarks of GoodData Corporation in the United States and other jurisdictions. Other names used herein may be trademarks of their respective owners. SOURCE: GoodData View the original press release on ACCESS Newswire
Business Wire
an hour ago
- Business Wire
American Coach Collaborates with Influencers Fuel Your Wander to Launch a New American Eagle Floorplan
DECATUR, Ind.--(BUSINESS WIRE)-- American Coach, a luxury motorhome brand that's part of REV Recreation Group, Inc., has added a new American Eagle floorplan* that has been custom designed exclusively with Fuel Your Wander influencers Kris and Hillary. "We toured countless RVs, but it wasn't until we worked closely with the American Coach design team that we were able to create our perfect RV. Together we designed a coach that fits our aesthetic and suits our nomadic life.' - Kris & Hillary Share The MY26 45FW American Eagle Fuel Your Wander motorhome has the Cummins ® ISX15 605 horsepower engine and an Allison 4000 Series ™ six-speed transmission, plus, the new Freightliner Liberty Bridge handling ensures a smoother, easier drive. The unit has three slides, sleeps two, built-in massagers in the front seats, and features a studio bar with larger window, a double pull-out pantry, and fireplace cabinet with a pull-out workstation. There is 1 ½ bath and the full bath has dual rectangular sinks as well as room for a stackable washer and dryer and a full wardrobe in the back. The interior has two-tone cabinetry, a custom backsplash and plank flooring throughout in Aspenwood Ash, while the exterior has a special custom design selected by Fuel Your Wander that is called Revolution. 'We at American Coach strive to provide exceptional quality and innovations that exceed industry standards. Our goal has always been to provide luxury coach floorplans that are full of features and are functional for our consumers,' said Doug Miller, Sales Director, American Coach. 'Thanks to our partnership with Fuel Your Wander, the 45FW fits right in as the newest member of our American Eagle line up.' 'We've toured countless RVs and wanted to custom design our own motorhome to fit our lifestyle and needs to live in it full time. Over the past year, we worked closely with the American Coach design team to determine the finishes and fabrics that not only fit our aesthetic, but a layout with plenty of features and extra storage that suits our nomadic life,' said Kris and Hillary. 'We are thrilled that consumers will be able to purchase the model that we helped design!' Consumers can purchase the American Eagle 45FW now.* For more information on American Coach, visit American Coach, and to follow Fuel Your Wander, visit Fuel Your Wander. *The Fuel Your Wonder coach features a custom décor package exclusive to this model. All other décor packages for the American Eagle 45FW are subject to change without notice based on material availability. About Fuel Your Wander ® Fuel Your Wander ® is the travel brand created by Kris and Hillary. After traveling the world together, they launched their greatest adventure yet—life in a Class A American Coach motorhome. Since hitting the road, they've traveled over 80,000 miles across 41 states and 20 national parks. What began as a way to document their experiences has evolved into a powerful platform to inspire others to chase their own wanderlust dreams. Today, Fuel Your Wander has grown into a thriving online community of over 2.5 million followers across their social media platforms. Kris and Hillary share engaging content ranging from RV tours and resort reviews to travel guides, road life tips, and behind-the-scenes stories from their nomadic lifestyle. To learn more or follow their journey, visit About REV Recreation Group, Inc. REV Recreation Group, Inc. is a subsidiary of REV Group, Inc. and a leading manufacturer of Class A Gas and Diesel recreational vehicle brands. This company has one of the best and longest standing distribution networks in the industry and boasts some of the industry's most recognized and iconic brand names such as American Coach ®, Fleetwood RV ®, and Holiday Rambler ®. Headquartered in Decatur, IN, which is also its principal manufacturing location, it operates two state-of-the-art service and repair centers and a genuine parts online warehouse. About REV Group, Inc. REV Group companies are leading designers and manufacturers of specialty vehicles and related aftermarket parts and services, which serve a diversified customer base, primarily in the United States, through two segments: Specialty Vehicles and Recreational Vehicles. The Specialty Vehicles Segment provides customized vehicle solutions for applications, including essential needs for public services (ambulances and fire apparatus) and commercial infrastructure (terminal trucks and industrial sweepers). REV Group's Recreational Vehicles Segment manufactures a variety of RVs from Class B vans to Class A motorhomes. REV Group's portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. Several of REV Group's brands pioneered their specialty vehicle product categories and date back more than 50 years. REV Group trades on the NYSE under the symbol REVG. Investors-REVG
Yahoo
an hour ago
- Yahoo
54% of Nvidia's Q1 Revenue Came From 4 Mystery Customers -- Who Could They Be?
Nvidia supplies the most sought-after data center chips in the world for artificial intelligence (AI) development. The majority of Nvidia's revenue now comes from its data center business, but its future success rests on just a handful of key customers. Nvidia's highly concentrated revenue base could pose a risk for investors in the future, but AI data center spending still has room to grow. 10 stocks we like better than Nvidia › Most artificial intelligence (AI) models are trained and then deployed in data centers, which are filled with thousands of specialized chips called graphics processing units (GPUs). Most AI developers don't have the financial resources to build that infrastructure themselves, but they can rent it from a handful of technology giants that operate hundreds of centralized data centers all over the world. Those tech giants typically buy most of their GPUs from Nvidia (NASDAQ: NVDA), which supplies the best AI hardware in the industry. The chipmaker continues to experience more demand than it can fill, which is driving a surge in its revenue and earnings. In fact, Nvidia has added a staggering $3 trillion to its market capitalization since the beginning of 2023, and it's now the second most valuable company in the world. However, the fact that only a handful of companies can afford to build the best AI infrastructure isn't a good thing for Nvidia. During the fiscal 2026 first quarter (ended April 27), more than half of the company's total revenue came from just four unnamed customers, which means a pullback in AI infrastructure spending from any one of them could threaten the chip giant's incredible run of growth. Let's take a look at who those top customers might be, so we can assess the sustainability of Nvidia's data center business. Nvidia generated $44.1 billion in total revenue during the fiscal 2026 first quarter. The data center segment was responsible for $39.1 billion of that figure, so AI GPUs are now the company's most important product by far. While Nvidia doesn't disclose who its customers are, it does report some data on the concentration of its revenue base. During the first quarter, just four mystery customers alone accounted for 54% of the company's $44.1 billion in sales: Customer Proportion of Nvidia's Q1 Revenue Customer A 16% Customer B 14% Customer C 13% Customer D 11% Data source: Nvidia. That means Customer A spent around $7 billion with Nvidia during the first quarter, and there are only a handful of companies in the world with enough financial resources to keep that up. As I mentioned earlier, this creates a risk for Nvidia because if Customer A were to reduce its capital expenditures, it would be very hard for the chipmaker to replace that revenue. It's impossible to identify Nvidia's top customers with certainty, but we can make some pretty reasonable assumptions based on public forecasts issued by some of the world's biggest tech companies: Amazon (NASDAQ: AMZN) said it will spend around $105 billion on AI data center infrastructure this calendar year. Microsoft (NASDAQ: MSFT) said it is on track to spend over $80 billion on AI infrastructure during its fiscal year 2025 (which ends on June 30). Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) plans to spend $75 billion on AI infrastructure this calendar year. Meta Platforms (NASDAQ: META) says it will spend up to $72 billion to fuel its AI ambitions this year (a figure it recently increased from $65 billion). Several other AI companies have smaller -- but not insignificant -- capital investments in the pipeline. Oracle, for example, recently told investors it will increase its data center spending to over $25 billion during its fiscal year 2026 (which just began on June 1). Then there are top AI start-ups like OpenAI, Anthropic, and Elon Musk's xAI, which also have very deep pockets. While all of the above companies are developing AI for their own purposes, Amazon, Microsoft, and Alphabet are also three of the world's largest providers of cloud services. In other words, they build the centralized data centers I mentioned earlier, which they rent to AI developers for a profit. Despite the exorbitant amount of AI infrastructure spending on the table this year, Nvidia CEO Jensen Huang thinks this is just the beginning. He predicts capital expenditures could top $1 trillion per year by 2028, because every new generation of AI models requires more computing capacity than the last. For example, Huang says some of the newest "reasoning" models consume up to 1,000 times more computing capacity than their predecessors. These models spend time "thinking" in the background before rendering responses, ensuring they produce more accurate information than traditional large language models (LLMs), which generate fast, one-shot responses. Nvidia's Blackwell and Blackwell Ultra GPU architectures were designed to meet the growing demand for inference capacity from reasoning models, which is why chips like the GB200 and GB300 are the most sought-after in the world. If Huang is right about the trajectory of AI infrastructure spending, then the risks associated with Nvidia's highly concentrated revenue probably won't materialize for at least a few more years. Since Nvidia stock is trading at a relatively attractive valuation right now, those potential risks probably shouldn't keep investors from buying it right now. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,702!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $870,207!* Now, it's worth noting Stock Advisor's total average return is 988% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia, and Oracle. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 54% of Nvidia's Q1 Revenue Came From 4 Mystery Customers -- Who Could They Be? was originally published by The Motley Fool
