• THE GRID
The $17.5 Billion Nuclear Down Payment
A number jumped off the page when I read the DOE's June 23 announcement.
Seven.
Seven utilities signed letters of intent. They want a spot in the biggest nuclear deal in a generation. But there are only five openings.
The DOE committed $17.5 billion to build ten AP1000 reactors at five sites across the country. Each reactor puts out 1.1 gigawatts. That's 11 GW of new capacity. Nearly 10 million homes' worth of power — clean, and running around the clock.
|
AP1000 Reactors
10
|
Project Sites
5
|
|
|
New Capacity
11 GW
|
DOE Commitment
$17.5B
|
|
Big Pharma's $560B White Flag is One Startup's Ticket
For decades, Big Pharma spent billions trying to solve osteoarthritis. Thankfully, Cytonics figured out why they keep failing and took a different approach. Instead of chasing one target at a time, they developed a therapy designed to address multiple destructive enzymes at once.
They created the first therapy with the potential to address the root cause at the molecular level, already proven across 10,000+ patients with their first gen therapy., With their first human safety trial complete and zero adverse events, they're now pushing toward FDA approval on a version that's 200% more potent and manufacturable at scale, backed by $32M raised and partnerships with Stanford and Scripps Research.
This isn't a handout. Every project must post $1 billion in equity up front. Half from Westinghouse. Half from a utility partner. The DOE opens the vault only after both sides show real skin in the game.
The money funds long-lead items. Reactor pressure vessels. Steam generators. Heavy steel parts that take years to forge and ship. Buying them in bulk at a fixed price shaves up to three years off each build.
Three years is everything right now. A reactor that breaks ground by 2030 catches the first wave of AI power demand. Miss that window and the project may never pencil out.
Westinghouse makes the AP1000. It's the only licensed large-scale advanced reactor running in the U.S. today. Seven partner candidates are chasing five deals. Demand already outstrips supply.
Data centers run every hour of every day. They need power that doesn't stop when the sun sets or the wind dies. Nuclear is the only clean source that matches.
This $17.5 billion sits inside a larger bet. Last October, the White House launched an $80 billion strategic partnership with Westinghouse, Brookfield, and Cameco. That was the blueprint. This loan is the first real capital behind it.
And the nuclear calendar keeps stacking up. TerraPower got the first NRC construction permit ever for a commercial non-light-water reactor in March. They broke ground in Kemmerer, Wyoming, on April 23.
Then in late June, a federal judge threw out the lawsuit aimed at blocking the Palisades restart in Michigan. It will be the first decommissioned U.S. nuclear plant to generate power again.
"These loans will revive the supply chain needed for America to once again build large-scale commercial reactors."
Three nuclear milestones in ninety days. I can't find another stretch like that in American nuclear history.
Nuclear runs all day, every day. It scales to gigawatts. It delivers the exact baseload AI demands. The government just wrote its biggest energy check in a generation. Now the supply chain has to deliver.
See this official SEC document? On page 146 Elon Musk revealed the name of a startup that Jeff believes will be…
Even though this has nothing to do with robots, self-driving cars, or rockets…
This startup is growing faster than Tesla… faster than SpaceX… and even 23 times faster than Nvidia.
That's why The Atlantic called it…
"The fastest-growing business in the history of capitalism." (Click here to get the name, 100% free of charge.)
• VOLTAGE
Google Bought Its Own Power Company
In March, Google didn't sign a power deal.
It bought the power company.
Alphabet paid $4.75 billion for Intersect Power — a clean energy developer that co-locates generation right next to data centers.
Two months later, the strategy snapped into focus.
On June 4, Google and Intersect broke ground on the Meitner Energy Center in the Texas Panhandle. It pairs a hyperscale data center with more than 1 GW of on-site generation. Wind. Solar. Battery storage. Gas turbines for firming. All on one campus. All behind the meter.
The project sits in Gray and Roberts Counties. It uses air-cooling to cut water use. Google's $40 billion Texas commitment already covers campuses in Armstrong and Haskell Counties. Meitner adds a third.
This isn't a partnership. It's ownership.
Microsoft signed a 20-year deal with Chevron for Project Kilby. Amazon works with Talen near nuclear plants. Those are contracts. Google bought the builder.
Buying Intersect turned Google into an energy company. It doesn't just consume power now. It produces it.
Why own instead of lease? The old model broke. Power deals take years to close. Grid queues can stretch half a decade. By owning Intersect, Google controls siting, permitting, and construction from day one.
No queue. No middleman.
When you need a gigawatt, you don't rent power. You own the plant. Google just wrote the new energy playbook.
• WIRED IN
Four Signals From the Build-Out
Solaris Energy Infrastructure (SEI) closed its acquisition of GESA on July 1 for approximately $55 million in cash plus 2.88 million shares, adding full-cycle power plant operations and maintenance to its lineup. As data centers build their own gas plants, someone has to keep them running. Solaris just grabbed that seat.
The energy-build trade keeps minting its own asset class. VOLT, Tema's electrification ETF, posted a 65% one-year return through June 30, with assets reaching $762.1 million. The fund holds about 29 names — from Bel Fuse to Quanta Services.
Speaking of Quanta. PWR posted Q1 revenue of $7.87 billion — up 26% year-over-year. Backlog hit a record $48.5 billion. Adjusted EPS jumped 51% to $2.68. The grid builders are booked solid for years.
Across the Atlantic, Rolls-Royce SMR announced Pioneer Works — a £12 million manufacturing center in Derby, England, opening Q4 2026. It's the company's first manufacturing development center to develop and validate the processes required to assemble the primary circuit. The supply chain race just went global.
The nuclear supply chain is being built in real time — from Derby to Wyoming. The utilities that move first won't just have power. They'll have it before anyone else can get it.
*Disclaimer:
Source: The Lancet Rheumatology*
This is a paid advertisement for Cytonics Regulation CF offering. Please read the offering circular at https://cytonics.com/
Forward-looking statements are subject to risks and uncertainties. There is no guarantee of performance. Past performance does not predict future results. All investments involve risk, including loss of principal.
