Nuclear-for-AI datacenter deal book

Name: Nuclear-for-AI Datacenter Deal Book
Creator: Yellowcake Analytics

Every publicly announced deal where a hyperscaler or datacenter operator secures nuclear power — restarts, PPAs, behind-the-meter and SMR orders — translated from megawatts into modeled annual pounds of U₃O₈. The AI-era demand story, quantified for uranium investors. Every deal is source-linked. Related: the SMR pipeline → and the policy & waiver ledger →

Capacity announced

33.3 GW

8.8 GW firm (signed / operating)

Incremental U₃O₈

Modeled

12.4 Mlb/yr

14.7 Mlb/yr gross deal-associated · 1.6 Mlb/yr firm incremental

Deals tracked

14 hyperscaler buyers

Ramp

12.0 Mlb

modeled by 2039

Announced ≠ contracted ≠ new demand. The two largest entries — Switch–Oklo (12 GW) and Amazon–X-energy (5 GW) — are multi-year option frameworks running to 2039–2044, not firm baseload. The firm figures count only binding contracts, restarts under construction, and operating-plant PPAs. And a PPA with an already-operating plant (Susquehanna, the Vistra fleet, Clinton) changes who buys the power, not how much uranium the reactor consumes — those deals contribute only their documented uprate megawatts to the incremental figures, and deals sharing the same physical reactors (a master agreement and its first tranche) count once. Each row's event type, status and note say which is which.

Buyer	Power source	Type	Capacity	U₃O₈ / yr (modeled)	COD	Status	Source
Switch	OkloAurora powerhouse fleet	ppanew build	12,000 MW	5.30 Mlb	2029	announced	Switch press release
Amazon (AWS)	X-energyXe-100 (national fleet)	investmentnew build	5,000 MW	2.21 Mlb	2039	signed	X-energy press release
Meta	TerraPowerNatrium (up to 8 units)	investmentnew build	2,800 MW	1.24 Mlb	2032	signed	POWER Magazine
Meta	VistraPerry, Davis-Besse, Beaver Valley	ppaexisting plant	2,609 MW	1.15 Mlb0.19 Mlb incremental	2026	signed	POWER Magazine
Endeavour (Edged data centers)	Deep FissionDeep Fission borehole PWR	mounew build	2,000 MW	0.88 Mlb	2029	announced	World Nuclear News
Amazon (AWS)	Talen EnergySusquehanna Steam Electric Station	ppaexisting plant	1,920 MW	0.85 Mlb0.00 Mlb incremental	2026	signed	source
Standard Power	NuScale Power / ENTRA1 EnergyNuScale VOYGR (Ohio & Pennsylvania)	mounew build	1,848 MW	0.82 Mlb	2029	announced	source
Meta	OkloAurora campus, Pike County, Ohio	ppanew build	1,200 MW	0.53 Mlb	2030	signed	POWER Magazine
Meta	Constellation EnergyClinton Clean Energy Center	ppaexisting plant	1,121 MW	0.50 Mlb0.01 Mlb incremental	2027	signed	source
Microsoft	Constellation EnergyCrane Clean Energy Center (ex-TMI Unit 1)	restartrestart	835 MW	0.37 Mlb	2028	under-construction	Utility Dive
Google	NextEra EnergyDuane Arnold Energy Center	restartrestart	615 MW	0.27 Mlb	2029	under-construction	source
Google	Kairos PowerKP-FHR fleet (Master Plant Development Agreement)	ppanew build	500 MW	0.22 Mlb	2030	signed	source
Equinix	OkloAurora powerhouse	ppanew build	500 MW	0.22 Mlb	—	announced	source
Amazon (AWS)	Energy NorthwestCascade Advanced Energy Facility (Xe-100, Richland WA)	smr-ordernew build	320 MW	0.14 Mlb	—	announced	source
Amazon (AWS)	Dominion EnergySMR near North Anna Power Station	mounew build	300 MW	0.13 Mlb	—	announced	source
Google	Tennessee Valley Authority / Kairos PowerHermes 2 (Oak Ridge, TN)	ppanew build	50 MW	0.02 Mlb	2030	under-construction	source
Nvidia	Valar AtomicsWard 250 (30 MW waterless AI factory)	mounew build	30 MW	0.01 Mlb	—	announced	Deseret News
Equinix	Radiant NuclearKaleidos microreactor	smr-ordernew build	—	—	—	announced	Equinix newsroom
Fermi America	Westinghouse (AP1000)Project Matador / HyperGrid, Amarillo TX	behind-the-meternew build	—	—	—	announced	Data Center Dynamics
Oracle	Undisclosed vendorThree SMRs for a 1+ GW AI data center	behind-the-meternew build	—	—	—	announced	CNBC

Methodology

Modeled

Annual uranium demand per deal is MODELED from disclosed nuclear capacity: MW (nameplate) / 1000 = GWe; multiplied by 170 tU/GWe/yr (industry standard, ~85% capacity factor, per the site demand model) and by 0.0026 Mlb U3O8/tU (model v2). Gross deal-associated fuel (all disclosed MW, overlap-deduped) is reported separately from INCREMENTAL fuel vs the operating-fleet baseline: eventType classifies each deal (existing-ppa / restart / uprate / new-build / life-extension), existing-plant PPAs contribute only their uprate share (incrementalMw), and deals sharing physical capacity carry an overlapGroup so a master agreement and its first tranche never double count. bindingStatus separates binding PPAs from frameworks/MOUs; only binding deals with firm status enter firm totals. Cancelled deals and deals with undisclosed capacity are excluded from the demand rollup. Capacities and dates are the operators' own disclosed figures where available.

Deal capacities and dates are the operators' own disclosed figures where available; every deal links to its primary source. Deals without a verifiable source do not ship, and those with undisclosed capacity are listed but excluded from the demand rollup — we do not guess. The uranium translation is modeled, not a quote. To convert megawatts into uranium demand yourself, the reactor-fuel guide walks the math end to end. See full methodology.

The gigasite, in uranium pounds

Reactor-fleet visions, translated into the only unit that matters here: pounds of U₃O₈ a year. Pick a scenario or set your own fleet.

Modeled

Illustrative take on the thousands-of-reactors gigasite vision, at the announced AI-factory unit size.

ReactorsCapacity each (MWe)

Fleet capacity

30.0 GW

U₃O₈ demand (modeled)

13.3 Mlb/yr

5,100 tU/yr

Of world mine supply

8.5%

of 2024 production (157 Mlb)

Vs the AI deal book

0.90×

the announced total above

Modeled, not a forecast: nameplate MWe × 170 tU per GWe-year (~85% capacity factor, LWR fuel cycle) × 0.0026 Mlb U₃O₈ per tU — the same constants as the deal book and the site demand model. Advanced designs' real fuel cycles (HALEU enrichment levels, burnup, load factors) will differ; treat results as order-of-magnitude context, not procurement math.

Free report: The AI-Nuclear Uranium Demand Report

Every announced nuclear-for-datacenter deal, converted into modeled pounds of uranium — the demand wave, quantified.

Download deal-book chartFree to share with attribution.

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Yellowcake Analytics. "Nuclear-for-AI Datacenter Deal Book." Yellowcake Analytics, 2026, https://www.yellowcakeanalytics.com/datacenter-deals.

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