US to Spend $80 Billion on New Nuclear Reactors

The US Government, in partnership with Westinghouse Electric Company, Cameco Corporation and Brookfield Asset Management, is accelerating deployment of nuclear power by constructing at least new reactors valued around $80 billion across America.

The new reactors will be constructed using Westinghouse nuclear reactor technology and these new reactors are expected to reinvigorate the nuclear power industrial base. The nuclear energy deployment will be a central pillar of America’s program to maintain global leadership in nuclear power development and Artificial Intelligence (AI).

US Secretary for Department of Commerce Howard Lutnick said that the administration is focused on ensuring the rapid development, deployment, and use of advanced nuclear technologies.

“This historic partnership supports our national security objectives and enhances our critical infrastructure. Together with Westinghouse we will unleash American energy. This partnership embodies the bold vision of President Trump – to rebuild our energy sovereignty, create high-paying jobs, and drive America to the forefront of the nuclear renaissance,” he said.

US Secretary for Department of Energy Chris Wright said that this historic partnership with America’s leading nuclear company will help unleash President Trump’s grand vision to fully energise America and win the global AI race.

Brookfield Asset Management President Connor Teskey said that this partnership will help unlock the potential that Westinghouse and nuclear energy can play to accelerate the growth of AI in the US, while meeting growing electricity demand and energy security needs at scale.

He also said that Brookfield has more than half a trillion dollars invested in the critical infrastructure that underpins the US economy, and they expect to double that investment in the next decade as the government is building the infrastructure backbone of AI.

Cameco CEO Tim Gitzel said that their successful partnership with Brookfield, Westinghouse, will be further strengthened through this collaboration.

This new partnership is expected to support the global growth opportunities for both Westinghouse’s and Cameco’s nuclear products, services and technologies, adding significant long-term value for Cameco’s stakeholders and enhancing energy, national and climate security around the world.

He said that as a strategic partner, Cameco is a secure and reliable western-based supplier of the uranium fuel needed to support the civilian deployment and long-term reliable operation of Westinghouse’s technology in the US and globally.

Partnership for Growth

The partnership will facilitate the growth and future of the American nuclear power industry and the supporting supply chain.

Each two-unit Westinghouse AP1000 project creates or sustains 45,000 manufacturing and engineering jobs in 43 states, and a national deployment will create more than 100,000 construction jobs.

The program will cement the US as one of the world’s nuclear energy powerhouses and increase exports of Westinghouse’s nuclear power generation technology globally.

Once constructed, the reactors will generate reliable and secure power, including for significant data center and compute capacity that will drive America’s growth in AI, Brookfield said.

The partnership contains profit sharing mechanisms that provide for all parties, including the American people, once certain thresholds are met, to participate in the long-term financial and strategic value that will be created within Westinghouse by the growth of nuclear energy and advancement of investment into AI capabilities in the US.