With nuclear power experiencing a renewal in interest right now, attention has turned to companies providing innovative nuclear power solutions such as X-Energy, helping X-Energy stock to emerge on growth investors' radars.
Founded in 2009, X-Energy is developing advanced nuclear energy solutions through its small modular reactors (SMRs), which the company believes can address growing energy demand -- something of particular interest to those who recognize the tremendous power strains that artificial intelligence (AI) is placing on the power grid.
Is X-Energy publicly traded?
As of late 2025, X-Energy was a privately held company. Most retail investors don't have access to X-Energy stock; instead, the company has received private funding from Amazon's (AMZN +0.06%) Climate Pledge Fund, Segra Capital Management, Jane Street, and Ares Management. In February 2025, X-Energy raised more than $700 million during a Series C-1 funding round. The company has raised a total of about $1.1 billion in private capital.
When will X-Energy IPO?
Offering singular investment opportunities that have the potential for significant returns, IPO stocks receive strong attention from growth investors. While X-Energy toyed with the idea of going public with a special purpose acquisition company (SPAC) in 2023, the transaction never came to fruition, and, as of late 2025, there's no indication that X-Energy will proceed with an IPO. Fortunately for growth investors, there are still options, with many other companies plan to hold IPOs in the coming months.
IPO
Is X-Energy profitable?
Because it's a privately held company, X-Energy isn't required to file regulatory financial statements, like 10-Qs and annual reports, precluding investors from gaining insight into the company's financial circumstances, including the revenue and profits it's generating -- if any at all.
Alternatives to X-Energy stock
Although most investors interested in buying X-Enegy stock are out of luck, accredited investors may be able to pick up shares prior to the stock debuting on public markets with an IPO. Platforms such as Forge Global (FRGE -0.07%) allow accredited investors to invest in privately held companies like X-Energy.
For those who don't qualify as accredited investors, there are other nuclear energy stocks to explore with businesses similar to X-Energy.
1. NuScale Power
Owning the title of the longest publicly held company that's developing SMR technology, NuScale Power (SMR -7.65%) went public through a combination with a SPAC in 2022. In May 2025, NuScale Power announced that it had received approval for a second, more powerful SMR design from the Nuclear Regulatory Commission.
While the company hasn't started commercial operations yet, the company and its partner Fluor (FLR -0.29%) are helping to advance a possible power project located in Romania at the site of a former coal plant.
NuScale Power is on firm financial footing, ending the first quarter 2025 with $491 million in cash and cash equivalents and no debt. Management expects to secure a firm customer order by the end of 2025, and it hopes to deploy its first commercial project by the end of 2030.
Should I invest in X-Energy?
Retail investors who don't meet the criteria to be accredited are unable to pick up shares of X-Energy stock. If the company proceeds with an IPO, however, it will be required to submit regulatory filings, presenting insight into its financial situation. At that point, investors can better evaluate whether an investment in the company is a smart move.
The bottom line on X-Energy
With its massive computing requirements, AI placing tremendous demands on the power grid thanks to the growing number of data centers. To help address this situation, many AI-focused companies are turning to nuclear energy providers such as X-Energy. For growth investors, consequently, it's understandable to watch the space closely, but it may be some time before investors will have the option to power their portfolios with X-Energy. Fortunately, there are other options which the can explore today.
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