🚀 Big Tech Turns to Nuclear Power

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. General Motors (GM) has agreed to form a joint venture with Lithium Americas Corp., providing $625 million in cash and credit to develop the Thacker Pass lithium mine in Nevada. The mine will produce lithium carbonate, crucial for electric vehicle (EV) batteries. GM will hold a 38% stake in the project, which aligns with its goal of securing U.S.-sourced materials for its EV supply chain. This deal builds on GM's previous $320 million investment in Lithium Americas to strengthen domestic lithium production.

2. Tech giants like Google, Amazon and Microsoft are turning to nuclear energy to meet the rising power demands of AI-driven data centers. Google recently partnered with Kairos Power to purchase energy from small modular reactors by 2030. Amazon has partnered with Dominion Energy to develop a modular nuclear reactor in Virginia. Microsoft signed a deal to revive the defunct Three Mile Island reactor. The companies aim to secure reliable, clean energy as global electricity consumption from AI and data centers is projected to more than double by 2026. Despite environmental opposition, proponents argue that nuclear power is crucial for reducing carbon emissions.

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4. Headlines

   1. Elon Musk has donated $75M to a Trump PAC and announced that he will be touring Pennsylvania, giving speeches as a surrogate for President Trump.

   2. The Trump-backed crypto coin has sold just $12M of its $300M target potentially leaving the project without the funds to receive the approvals necessary to move forward.

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