US Partners with Westinghouse for $80 Billion Nuclear Expansion

The Government of the United States entered into a strategic partnership with Westinghouse Electric Company and its owners, Cameco Corporation and Brookfield Asset Management, to construct at least $80 billion in new nuclear reactors. The initiative, announced in October 2025, focuses on deploying Westinghouse AP1000 technology to meet surging electricity demands from artificial intelligence and hyperscale data centers. Under the binding term sheet, the federal government will arrange financing and facilitate permitting, with a goal of having 10 large reactors under construction by 2030.

In exchange for its role, the U.S. government is entitled to 20% of Westinghouse's cash distributions exceeding $17.5 billion. The agreement also includes a provision where the government may acquire a minority equity stake if Westinghouse reaches a $30 billion valuation and conducts an initial public offering by January 2029. The project is linked to a broader trade framework with Japan, which pledged up to $550 billion for U.S. energy infrastructure, including $332 billion for various initiatives.

By November 2025, the strategy evolved as the U.S. Department of Energy announced plans to directly purchase and own up to 10 reactors. Carl Coe, Chief of Staff for the Department of Energy, characterized the government's entry into private markets as a necessary response to a "national emergency" regarding power demand. While the administration maintains that Japanese investment will drive the project, some analysts have questioned Japan's ability to fulfill these non-binding commitments.