Valar Atomics Raises $1B Led by Sequoia to Scale Small Modular Nuclear Reactors

Valar Atomics confirmed on Monday that it has raised $1 billion in equity, led by Sequoia, with partner Shaun Maguire joining the board. The company also secured a $200 million line of credit from Erebor and other banks. While the valuation was not disclosed, Bloomberg reports it at $6 billion.

Valar is developing small modular nuclear reactors (SMRs) — factory-built, miniaturized power plants designed to be cheaper and faster to deploy than traditional reactors. In June, the company demonstrated its Ward 250 reactor powering an Nvidia Blackwell system and announced a deal with Nvidia to build a waterless 30MW AI factory.

The funding will accelerate Valar's manufacturing ambitions. The company stated: "It took two years to complete the NOVA core. It took seven months to take Ward 250 critical. With each reactor built, the tick rate will become smaller until Valar is producing tens, then hundreds, then thousands of reactors per year." This round will support its next milestone: manufacturing fleets of SMRs.

Valar is not alone in pursuing nuclear for AI data centers. Antares raised $470 million recently, and X-energy raised $1 billion through an IPO. Other investors in Valar's round include Apandion Capital, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72, Riot Ventures, Snowpoint Ventures, and Valor Equity Partners.