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Fermi: Allies could own equity in US nuclear consortium

The founders Fermi America, a company that hopes to build the largest data center in the world and fuel it using nuclear power, solar, and gas, said on Wednesday, foreign countries may take an equity stake.

Fermi made its Nasdaq debut on Wednesday, with shares valued at $14.8 billion. Investors are increasingly interested in AI infrastructure stocks.

Founders Rick Perry and Toby Neugebauer, a former U.S. Energy Secretary in the first Trump administration, want to build a site near Amarillo in Texas that will have four Westinghouse Electric AP1000 nuclear reactors. This would be the second U.S. plant to be built in a desert.

Perry and Neugebauer are looking for the U.S. Government to partner with them in this project. It would be home to artificial intelligence powered by nuclear energy that the Pentagon could use.

The founders stated that it is possible for the U.S. and other allies to take equity stakes into a nuclear consortium where Fermi will be involved. Neugebauer stated that high-level delegations from around the world have visited Neugebauer's office to discuss a possible partnership.

"It's possible that other countries would also take an equity position in a nuclear consortium. He said that other countries could be interested in reinvesting in the United States, and becoming partners with us.

After Trump's executive orders were issued in May, the interest in nuclear reactors increased. These executive orders aimed to speed up applications for new nuclear reactors, revamp the Nuclear Regulatory Commission and make nuclear waste and excess plutonium available for reactor fuel.

The latest reactors in the U.S. were also Westinghouse AP1000 models at Vogtle, Georgia. They were delayed for years and cost about $16 billion more than budget. (Reporting and editing by Timothy Gardner, Echo Wang)

(source: Reuters)