Small Modular Reactor (SMR)

A Small Modular Reactor (SMR) is a nuclear fission reactor built well below the size of a conventional plant — typically under 300 MW per unit — designed for factory fabrication and phased on-site assembly, which hyperscalers are betting on for firm, carbon-free power that sidesteps years-long grid interconnection queues. By May 2026, the four largest US hyperscalers had committed over 9.8 GW of nuclear capacity to AI data center supply deals, led by Meta's up to 6.6 GW across agreements with TerraPower, Oklo, Vistra and Constellation targeting 2032-2035 delivery. Google-backed Kairos Power signed the first PPA between a US utility and an advanced Gen IV SMR — a 50 MW deal with TVA for Tennessee and Alabama data centers. Because most SMR capacity won't be online before 2030, near-term deals still lean on existing reactors, like Microsoft's 20-year PPA for all 835 MW of Three Mile Island Unit 1.