For half a century, the U.S. didn't approve a single new license to manufacture advanced nuclear fuel. That changed on Feb. 13, when TRISO-X — a subsidiary of Amazon.com Inc-backed X-Energy — received federal approval to produce next-generation reactor fuel.
The timing isn't random. It's driven by one urgent reality: AI is consuming electricity faster than the grid can supply it.
Amazon isn't just building data centers anymore. It's securing the fuel that will power them.
First Nuclear Fuel License In 50 Years Breaks The Bottleneck
The license allows TRISO-X to produce HALEU — High-Assay Low-Enriched Uranium — a next-generation fuel that is significantly more energy-dense than conventional reactor fuel. The company plans to begin commercial production at its TX-1 facility in Oak Ridge, Tennessee, by 2028.
Amazon and X-Energy are targeting deployment of 5 gigawatts of nuclear capacity by 2039 — enough to power millions of homes, or some of the world's largest AI clusters.
Amazon and X-Energy are targeting deployment of 5 gigawatts of nuclear capacity by 2039 — enough to power millions of homes, or some of the world's largest AI clusters.
Uranium Supply Chain Suddenly Becomes Strategic
This breakthrough shifts nuclear from theory to execution — and puts the uranium supply chain directly in focus.
Centrus, in particular, is one of the few U.S. companies with HALEU enrichment capability — positioning it as a critical domestic supplier. Cameco Corp, Centrus Energy Corp, and Energy Fuels Inc, now sit at the center of what could become a multi-decade capital investment cycle.
Cameco, meanwhile, remains one of the world's largest uranium producers, giving it leverage to rising structural demand.
For investors, this isn't just an energy story. It's an infrastructure story. AI requires power. Nuclear provides it. And now, for the first time in 50 years, the fuel supply chain is officially back online.
For investors, this isn't just an energy story. It's an infrastructure story. AI requires power. Nuclear provides it. And now, for the first time in 50 years, the fuel supply chain is officially back online.