Standup: Amazon Makes Significant Nuclear Energy Investments with X-Energy
Standup: Amazon Joins the Nuclear Energy Movement
Good morning. Here's what transpired overnight and what you should know today.
Nuclear Bet: Amazon Invests in X-Energy
Amazon has made headlines by embracing nuclear energy with three new agreements aimed at advancing nuclear energy projects. These deals include a substantial investment in US-based X-Energy as part of a larger US$500 million fundraising initiative that also attracts investment from Citadel's Ken Griffin and other entities.
- X-Energy, a US nuclear developer supported by the chemical giant Dow, plans to deploy small modular reactors (SMRs) to deliver clean energy solutions.
- The ambitious goal is to bring more than 5 gigawatts of SMR energy online by 2039.
- Amazon’s VP of global data centres, Kevin Miller, emphasized the need for smart solutions to meet escalating energy demands while tackling climate change.
- This move is a crucial element of Amazon's Climate Pledge commitment, aiming for net-zero emissions by 2040.
Notably, other tech giants like Microsoft and Google have entered similar nuclear energy partnerships, driven by heightened demand from AI data centres. This announcement has also led to an increase in nuclear stock prices.
Additionally, Amazon announced its first color Kindle e-reader, adding to the day's news. Capital Brief
Banking Cycle: Morgan Stanley's Surge
Morgan Stanley reported a remarkable third-quarter profit surge of 32%, reaching US$3.19 billion, equivalent to US$1.88 per share. This result exceeded analyst expectations and marked a successful earnings season for the largest US banks, aided by a resurgence in deal-making.
- Morgan Stanley's investment banking revenue experienced a 56% boost, spurred by mergers and acquisitions (M&A) activity and corporate debt issuance.
- This performance outstripped growth at Goldman Sachs, which reported a 45% profit increase the previous day.
- Goldman Sachs benefited from a 20% rise in investment banking fees.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.