UPDATE 1-Nuclear fuel firm Standard Nuclear valued at $2.17 billion as shares fall in NYSE debut
Oklo Inc OKLO | 0.00 | |
X-Energy, Inc. Class A XE | 0.00 | |
Standard Nuclear, Inc. STDN | 0.00 | |
Deep Fission, Inc. FISN | 0.00 |
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July 16 (Reuters) - Standard Nuclear STDN.N shares fell 10% in their New York Stock Exchange debut on Thursday, after the nuclear fuel firm slashed its offering size as investors remain cautious about valuations.
The Oak Ridge, Tennessee-based company's shares opened at $13.50, below its offered price of $15 apiece, giving the nuclear fuel firm a valuation of $2.17 billion.
The market debut highlights that investors remain selective despite renewed enthusiasm for nuclear power, fueled by surging electricity demand from artificial intelligence data centers and supportive U.S. policies.
The listing comes as technology giants and utilities scramble for new sources of carbon-free, 24/7 electricity to power the rapid expansion of AI infrastructure, which has strained existing power grids.
Standard Nuclear processes enriched uranium feedstock into advanced nuclear fuel for nuclear reactors, including small modular reactors and microreactors, as the United States seeks to expand domestic nuclear fuel capacity.
Its debut follows those of reactor developers X-energy XE.O and Deep Fission FISN.O, whose shares are trading below their IPO prices.