Hyperscaler Nuclear Deals

Every confirmed Microsoft, Amazon, Google, Meta, Oracle, and Equinix nuclear deal 2023-2026. Structure classifications (grid PPA / behind-the-meter PPA / MoU / joint development) follow press releases and 8-K filings; only grid + BTM PPAs are binding offtake.

Filter structure:

Announced▼	Buyer	Seller	Technology	Capacity (MW)	Term (yr)	Structure	Location	Target Start
2025-09-29	Amazon Web Services	Vistra Corp (Comanche Peak)	Existing reactor (Comanche Peak)	1,200	20	grid PPA	Glen Rose, Texas (ERCOT)	Q4 2027 (ramping to full by 2032)
2025-06-03	Meta Platforms	Constellation Energy	Existing reactor (Clinton Power Station)	1,121	20	grid PPA	Clinton, Illinois	2027 Q2 (post Illinois ZEC expiry June 2027)
2025-05-07	Google	Elementl Power	Advanced reactor (vendor TBD)	1,800	n/a	joint development	three US sites (TBD)	by 2035 per Elementl goal
2025-03-25	Energy Northwest + Amazon	X-energy	SMR (Xe-100)	320	n/a	sub-deal	Richland, Washington (Columbia Generating Station site)	first unit 2030-2032
2024-12-04	Switch (data center operator)	Oklo	SMR (Aurora)	12,000	20	MoU (non-binding)	multi-site, US	post-2030
2024-10-16	Amazon	X-energy + Energy Northwest + Dominion	SMR (Xe-100, HTGR)	5,040	n/a	joint development	Washington State (Energy Northwest); Virginia (Dominion North Anna)	first unit early 2030s, 5 GW by 2039
2024-10-16	Amazon	Dominion Energy	SMR (technology TBD)	600	n/a	MoU (non-binding)	North Anna, Virginia	early 2030s
2024-10-14	Google	Kairos Power	SMR (KP-FHR, fluoride-salt-cooled high-temp)	500	n/a	grid PPA	US (multi-site, Tennessee Hermes-2 likely first)	first plant 2030, full 500 MW by 2035
2024-09-20	Microsoft	Constellation Energy	Existing reactor restart (TMI Unit 1 / Crane Clean Energy Center)	835	20	grid PPA	Londonderry Township, Pennsylvania	2028 (planned 2027-2028 restart)
2024-09-09	Oracle	(utility partner and reactor vendor undisclosed)	SMR (vendor TBD)	1,000	n/a	in discussions	US (site undisclosed)	post-2030
2024-03-04	Amazon Web Services	Talen Energy	Existing reactor (Susquehanna SES)	960	10	behind-the-meter PPA	Salem Township, Pennsylvania	2024 (ramping)
2024-02-01	Standard Power (data center developer)	NuScale	SMR (VOYGR, light-water)	24	n/a	MoU (non-binding)	Ohio + Pennsylvania	2029-2030 target, slipping
2023-12-04	Equinix	Oklo	SMR (Aurora, sodium fast)	500	20	MoU (non-binding)	multi-site, US	post-2030
2023-05-10	Microsoft	Helion Energy	Fusion (FRC, D-He3 target)	50	n/a	grid PPA	Washington State (site TBD)	2028

Updated at 2026-05-17

Hyperscaler GW Committed by Operator

Power capacity (GW) committed to hyperscalers, aggregated by operator and broken down by counterparty. Companion to the deal-by-deal table above.

Updated at 2026-05-31

US Data Center Power Demand

US data center electricity demand in TWh, 2020 to 2035E, with a forecast range across LBNL, McKinsey, EPRI, DOE, and Goldman, plus nuclear's share of supply on the right axis.

Updated at 2026-05-17

PPA Structures (deal-flow mix)

How the 14 confirmed hyperscaler nuclear deals split by contract structure: binding PPAs (6 deals, 3.7 GW) versus non-binding MoUs and JDAs (8 deals, 24.2 GW).

Binding (PPAs)

4,666 MW

6 deals

Non-binding

20,964 MW

7 deals

grid PPA5 deals, 3,706 MW

behind-the-meter PPA1 deals, 960 MW

MoU (non-binding)4 deals, 13,124 MW

joint development2 deals, 6,840 MW

in discussions1 deals, 1,000 MW

Updated at Q1 2026

Nuclear Equity Performance

Monthly prices for the eight publicly-traded nuclear names indexed to 100 on Jan 2024 versus the S&P 500, with markers for the policy and deal events behind the largest moves.

Updated at 2026-05-17

Grid Interconnect Queue

Pending and decided FERC and ISO interconnection filings for nuclear-adjacent large-load data center sites, including the precedent-setting Susquehanna case.

Tracked

queue entries

Total MW

5,806

requested capacity

Active / approved

5,026

MW moving forward

Rejected

480

MW blocked

ERCOT

1 filing

Docket / Queue

Site

Filed

Status

INR-2024-XXXX (inferred)

Large load interconnection

Comanche Peak Nuclear Power Plant (Glen Rose, TX)

Vistra Corp

1,200

2024-Q4

active (PPA signed)

ERCOT does not face FERC ISA review for BTM (out of FERC jurisdiction); state PUC review only. Vistra 8-K Sep 29 2025 disclosed a binding 20-year PPA for 1,200 MW with deliveries beginning Q4 2027; counterparty named on Vistra Q1 2026 earnings call (May 2026) as AWS.

FERC (multi-ISO)

1 filing

Docket / Queue

Site

Filed

Status

AD24-11

Large-load co-location policy docket

all RTOs

FERC sua sponte

n/a

2024-11-01

open technical conference

Technical conference Nov 1 + Nov 26, 2024; comments due Jan 2025; ongoing 2025-2026

MISO

1 filing

Docket / Queue

Site

Filed

Status

DPP-2024-Aug-North-002 (inferred)

Data center large load (>500 MW)

near Cook Nuclear Plant, MI

(undisclosed hyperscaler)

700

2024-08-15

active

MISO DPP cycle in progress; transmission upgrade study expected mid-2026

PJM

6 filings

Docket / Queue	Site	MW	Filed	Status
ER24-2172 ISA amendment (large load co-located)	Susquehanna Steam Electric Station (Salem Township, PA) PJM + Talen + Amazon	480	2024-06-03	rejected FERC ALJ rejected Nov 1, 2024 (split decision); cost-shift to PJM ratepayers cited
ER25-1093 Co-location service agreement (refiled)	Susquehanna SES PJM + Talen + Amazon	300	2025-04-08	approved Restructured to grid-network service; FERC accepted 2025-Q3
AE2-XXX (Exelon transition) Large load interconnection	Three Mile Island Unit 1 / Crane Clean Energy Center Constellation	835	2024-10-01	under study PJM transition study in progress for return-to-service interconnection
(public summary, individual ID redacted) Generator interconnection (restart support)	Clinton Power Station Constellation	1,121	2025-07-15	active License renewal application filed; interconnection upgrades minimal (existing capacity)
PJM transition (FY 2026 cycle, position inferred) Generator interconnection (uprate)	Byron Generating Station, IL Constellation	110	2025-09-01	active Uprate study underway; targets ~55 MW per unit
(study) Generator interconnection (new SMR)	North Anna Power Station, VA Dominion Energy	600	2025-10-30	feasibility Joint feasibility study with Amazon; vendor selection 2026

TVA (non-RTO)

1 filing

Docket / Queue

Site

Filed

Status

TVA-IR-Hermes2-001

Generator interconnection (advanced reactor demo + commercial)

Oak Ridge / Clinch River, TN

Kairos Power + TVA

140

2024-11-15

active

TVA system planning supports Hermes-2 demo to 2030; Google PPA back-stops commercial siting

WECC (Northwest)

1 filing

Docket / Queue

Site

Filed

Status

EN-XE100-IR-001

Generator interconnection (new advanced reactor)

Columbia Generating Station vicinity, Richland WA

Energy Northwest

320

2025-02-20

active

BPA / WECC transmission study in progress; ESP under NRC review

Updated at 2026-05-17

Hyperscaler Nuclear Deals

Hyperscaler GW Committed by Operator

US Data Center Power Demand

PPA Structures (deal-flow mix)

Nuclear Equity Performance

Grid Interconnect Queue

ERCOT

FERC (multi-ISO)

MISO

PJM

TVA (non-RTO)

WECC (Northwest)

Ask Sterling