X-Energy's stock surged 30.91% intraday on its first day of trading, as the nuclear reactor developer made its public market debut on the Nasdaq under the ticker "XE." The significant price jump follows the company's successful initial public offering, which was priced above expectations due to robust demand from investors.

The IPO raised approximately $1.02 billion after the company upsized the offering and priced shares at $23 each, above the initially marketed range of $16 to $19. Investor enthusiasm is largely attributed to the growing demand for clean, reliable power sources to fuel the expansion of artificial intelligence data centers, with nuclear energy seen as a key solution.

X-Energy's strong backing from high-profile investors including Amazon.com, which owns a significant stake, as well as investments from Ken Griffin's Citadel and Ares Management, has provided validation and fueled optimism. The company also has early commercial agreements with Amazon and Dow Chemical, setting it apart from other nuclear startups and providing a clearer path to revenue.