Is Nuclear Power the Future of Green Energy for Big Tech ?

Google CEO Sundar Pichai revealed in an interview that Google is exploring nuclear energy as a potential green source to power its AI data centers. This comes amidst the company s ambitious goal to achieve net-zero emissions by 2030, despite a 48% increase in greenhouse gas emissions in 2023 compared to 2019. Pichai mentioned that Google is considering additional investments in solar and evaluating technologies like small modular nuclear reactors. The tech giant s interest in nuclear energy follows Microsoft s agreement to power its AI data centers with dormant Three Mile Island nuclear plant in Pennsylvania. Additionally, Sam Altman-backed Nuclear SMR company Oklo has finalized an agreement with the Department of Energy to advance the next phase of the SMR at the Idaho National Lab. Furthermore, the Biden administration has closed a $1.52 billion loan with Holtec s Palisades nuclear plant in Michigan to revive it. Michael Alkin, Chief Investment Officer at Sachem Cove Partners, sees the Microsoft-Three Mile Island deal as a wake-up call for those not paying attention to the increasing demand for uranium. The restart of Three Mile Island takes that to a bit of a different level, as the funding markets are becoming more receptive to nuclear deals. Goldman s latest note on uranium prices suggests that they are expected to stairstep higher over time. In summary, Google is exploring nuclear energy as a potential green source to power its AI data centers, following Microsoft s agreement with the dormant Three Mile Island nuclear plant. The interest in nuclear energy is driven by the need to achieve ambitious net-zero emissions goals and the increasing demand for uranium. The funding markets are also becoming more receptive to nuclear deals, as seen in the Microsoft-Three Mile Island agreement and the Biden administration s loan to Holtec s Palisades nuclear plant.

Source: oilprice.com
Published on 2024-10-05

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