TerraPower, the nuclear startup founded by Bill Gates, has raised $650 million in new funding to build its first full-scale power plant.
One of the more surprising backers this time? Nvidia — through its venture arm, NVentures — marking the chipmaker’s first investment in the energy sector.
What TerraPower Is Doing
TerraPower is building a next-generation nuclear reactor in Wyoming. Construction of the plant began in June 2024, although the company is still waiting on approval to build the reactor itself. That could happen sometime next year.
Once it gets the green light, TerraPower says it can complete the plant within three years of pouring the foundation.
A Reactor That Works Smarter
What sets this reactor apart is the design, known as Natrium. Instead of using water for cooling like traditional reactors, Natrium uses molten sodium. That change allows the plant to run continuously — even when energy demand drops.
Here’s how it works:
- When power demand is low, the plant keeps running and heats up molten sodium.
- That heat is stored in tanks.
- When demand goes back up, the stored heat is used to quickly generate more electricity.
The plant is expected to generate 345 megawatts regularly and can ramp up to 500 megawatts for over five hours — helping balance out gaps in solar and wind energy.
Nvidia Sees the Bigger Picture
For Nvidia, the investment is part of a growing interest in energy — especially as the world builds more AI-powered data centers, which require huge amounts of power.
The round also included more support from Bill Gates and HD Hyundai, both of whom were already invested in TerraPower.
Changing Course, Moving Forward
TerraPower didn’t start with the Natrium design. The company originally pursued a different reactor but shifted plans after running into delays and uncertainty.
Now, Natrium is the focus — and it’s gaining momentum.
While it promises faster construction and better flexibility, it’s still not cheap. Reports say the first reactor could cost around $4 billion, with half possibly funded by the U.S. Department of Energy.
Why This Matters
This isn’t just about one power plant. It’s about what comes next.
Clean energy is becoming essential as AI, cloud computing, and modern infrastructure grow. Nuclear energy, especially with newer, safer, and more flexible designs, is back on the table in a big way.
TerraPower wants to prove that nuclear can be clean, reliable, and adaptable — and that it doesn’t take a decade to build.
Quick Recap
- TerraPower raised $650M to build its first commercial Natrium nuclear reactor in Wyoming.
- Nvidia invested, making its first move into energy through NVentures.
- The plant uses molten sodium for better flexibility and energy storage.
- It aims to be finished within three years after full approval.
- Backed by Bill Gates, HD Hyundai, and possibly the U.S. government.
Final Take
The energy world is changing fast — and nuclear is getting a second look.
TerraPower is one of the few companies actually building something real in this space. With help from investors like Nvidia and Gates, it may not be long before we see a new kind of nuclear plant helping keep the lights on in an AI-driven world.