X-Energy (XE): Development of Next-Generation Small Modular Reactors (SMRs) Using High-Temperature Gas-Cooled Reactor Technology (Xe-100)

Against the backdrop of rising power demand due to the expansion of AI infrastructure, securing a stable baseload power source has emerged as a critical theme in global capital markets. In particular, as the construction of data centers for generative AI accelerates, small modular reactors (SMRs) are attracting attention as a promising next-generation power source. This article examines the growth potential and business model characteristics of the advanced nuclear technology company, X-Energy, Inc. (Ticker Symbol: XE), which announced its initial public offering (IPO) on the U.S. Nasdaq market on April 24, 2026.