AI Arms Dealer Palantir (PLTR) Says the US Will Need More Nuclear Power as Competition with China Intensifies, Investing $100 Million in Nuclear Energy Startup
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TogglePalantir: Using AI to Improve Nuclear Power Construction Efficiency and Safety
Palantir announced on Thursday that it has signed an agreement with a startup company Nuclear Company dedicated to project development. Palantir and Nuclear Company will collaborate to develop a "Nuclear Operating System (NOS)" to improve nuclear power construction efficiency and safety using AI. Nuclear Company will pay Palantir $100 million over the next five years.
Palantir's Defense Head Mike Gallagher told Bloomberg that the US will need more nuclear power as competition with China intensifies.
In the past 30 years, the US has only built two nuclear power plants. Gallagher, a former US Federal Representative, stated that in addition to strict regulations, another hindrance is the complex process of filling out hundreds of thousands of documents when building new nuclear power plants.
Using Palantir's software, Nuclear Company is digitalizing the paperwork and work required to build nuclear power plants, enabling on-site teams to be promptly informed of any supply chain delays. Nuclear Company hopes to achieve power supply by 2030.
Trump's New Policy Embraces Nuclear Power to Compete with China
Of the 61 nuclear power plants currently under construction globally, Russia has 26, China has 25, but the US has none.
Gallagher stated that the US needs to revive its nuclear technology R&D capabilities, otherwise it cannot win this strategic competition with China. Palantir's goal is to help the US build nuclear power plants that are cheaper and safer than China's at the fastest possible speed.
US President Trump signed an executive order in May to promote nuclear industry revival. The order requires the construction of 10 large nuclear reactors by 2030 and achieving a total nuclear power installed capacity of 400 GW by 2050, more than four times the current capacity. Besides national security, revitalizing the nuclear industry is also seen as crucial for defense.
(Benzinga Analyst: Trump's New Policy Embracing Nuclear Power Drives Four Nuclear Stocks)
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