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4h ago

U.S. Strikes $80 Billion Partnership With Westinghouse Owners to Build AP1000 Nuclear Reactors

Officials cast the program as a national-security push to add firm power for AI data centers.

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President Trump and Japan’s prime minister, Sanae Takaichi, signed a trade deal in Tokyo on Tuesday
Construction cranes in action in the foreground, while steam spills from two cooling towards in the background.

Overview

  • The partnership announced Tuesday commits to at least $80 billion of new Westinghouse AP1000 units across the U.S., with the government arranging financing and facilitating permits.
  • Terms grant the U.S. a 20% share of Westinghouse cash distributions above $17.5 billion once its participation interest vests, plus a potential IPO warrant if a $30 billion valuation is reached by January 2029.
  • The federal participation vests only after a final investment decision and definitive agreements to complete at least $80 billion in construction are executed.
  • Westinghouse is owned by Brookfield Asset Management (51%) and Cameco (49%); following the news, Cameco shares jumped roughly 18%–21% and Brookfield rose about 3%.
  • Key elements still to be determined include specific sites, financing mechanics, regulatory capacity and timelines, with prior AP1000 cost overruns at Vogtle underscoring execution risk even as demand from data centers grows.