Startup profile · funding coverage
X-energy funding, valuation and investors
Public nuclear-technology company developing the Xe-100 small modular reactor and TRISO-X fuel; its shares began trading on Nasdaq as XE on April 24, 2026.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series D
Approximately $700M · November 24, 2025
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
Not publicly disclosed
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
public
public · Rockville, Maryland, United States
Investors in latest funding
Lead: Jane Street
Other: ARK Invest , Point72 , XTX Ventures , Emerson Collective
Overview
X-energy, Inc. develops the high-temperature gas-cooled Xe-100 small modular nuclear reactor and TRISO-X nuclear fuel. It completed the transition from private venture-backed startup to a Nasdaq-listed company in April 2026 under ticker XE, pricing its upsized IPO at $23 per share for 44,254,659 initial shares.
The stock's October 23, 2026 closing price in the company's own investor-relations historical quote was $10.60, not an IPO offer price or current live quote. Pre-IPO, X-energy announced separate ~$700M Series C-1 and ~$700M Series D financings in February and November 2025.
For Q2 2026 it reported $54.6M in revenue and grant income, including $50.1M service revenue and $4.5M grant income; growing project spending and cash consumption are important investment risks. The company and Amazon/AEP announced an October 2026 agreement to develop a proposed 960MW Indiana project. A proposed project is not an operational plant.
Alumni Ventures publicly lists X-energy among its portfolio companies, but its share ownership, sale timing and realized returns cannot be inferred from the IPO.
Why X-energy is interesting
X-energy is one of the few advanced-nuclear developers with a public stock price and separately documented pre-IPO financings. Its 2026 IPO price, later trading price, revenue-plus-grant disclosures, proposed Amazon-backed power projects and lengthy reactor-delivery milestones should be kept distinct. Alumni Ventures identifies X-energy as a historical portfolio company, but realized AV returns are undisclosed.
Product & use cases
Xe-100 is an advanced high-temperature gas-cooled small modular reactor intended for reliable electricity and industrial heat; TRISO-X is the related fuel-fabrication business. The group also provides engineering and project-development services under research and demonstration contracts.
- Industrial-scale clean firm electricity for data centers and grid utilities
- High-temperature steam and process heat for industrial customers
- Fuel design and fabrication for advanced nuclear reactor projects
Key facts
- Apr 23, 2026: priced IPO of 44,254,659 shares at $23 each; Nasdaq XE trading began Apr 24.
- Oct 23, 2026: historical closing quote on X-energy IR $10.60, not a real-time stock quote.
- Aug 13, 2026: Q2 revenue plus grant income $54.6M; operating cash used $97.3M in the quarter.
- Oct 19, 2026: proposed 12-unit, 960MW Indiana development with Amazon and AEP; project not operational.
- Alumni Ventures' official 2026 APEX list identifies X-energy as a portfolio company; specific AV exit proceeds unreported.
Funding history (newest first)
Series D
2025-11-24 Approximately $700M- Jane Street (lead)
- ARK Invest (participant)
- Point72 (participant)
- XTX Ventures (participant)
- Emerson Collective (participant)
Source: Read source · x-energy.com
Series C-1 (completed upsized financing)
2025-02-06 Approximately $700M- Amazon Climate Pledge Fund (participant)
- Segra Capital Management (participant)
- Jane Street (participant)
- Ares Management funds (participant)
- Emerson Collective (participant)
Source: Read source · x-energy.com
Investors in our directory
Funds linked from X-energy's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: Modular reactor design, vertically coordinated advanced fuel supply and early utility/hyperscaler partnerships could support deployment, but commercialization depends on permits, construction, HALEU supply, manufacturing yields, financing and project economics.
Compare reactor licensing and fuel supply agreements, contractual construction/engineering milestones, intended electricity output versus delivered output, cash burn and fully diluted public equity. An Amazon-related development announcement is not guaranteed electricity revenue. The April 2026 IPO creates observable share prices, but not evidence of what AV originally paid or whether it exited.
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Oklo adjacent
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Industries
Market / IPO context
Ticker: XE (Nasdaq)
IPO status: public
IPO date: 2026-04-24
Note: 2026-04-23 IPO priced at $23/share. Historical XE close on 2026-10-23: $10.60 (X-energy investor relations). Do not treat IPO price or dated quote as current market capitalization.
Editorial / static context — not a live quote.
FAQs about X-energy
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