How Artificial Intelligence (AI) Influence on Nuclear Energy Industry is Providing Lucrative Opportunity

/EIN News/ -- PALM BEACH, Fla., Nov. 20, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The partnership between Artificial Intelligence (AI) and nuclear power is a natural evolution in the quest for sustainable technological progress. As companies like NuScale, Nano Nuclear, Oklo, Nvidia, and KULR continue to innovate in nuclear technology, and industry leaders like NVIDIA champion its adoption, the future of AI looks increasingly green and sustainable. Nuclear power not only provides the energy scale and reliability required by AI-driven data centers but also helps address the global need for climate action. With this synergy, the growth of AI can be achieved without compromising the health of our planet. A recent report from InsightAce Analytic projected that AI in Nuclear Energy Market is a growing trend with the potential to impact the industry significantly. AI technologies can enhance safety, improve efficiency, and optimize operations in the nuclear sector. The use of AI in nuclear energy is expected to help improve safety, reduce costs, and extend the lifespan of existing facilities, making nuclear power a more attractive and sustainable energy source. There is rising interest in small modular reactors (SMRs), and AI can be used to optimize their design and operation. However, it remains a vital part of the energy mix in many countries and is undergoing technological advancements, with AI playing an increasing role. Key aspects of the market include Predictive Maintenance, Enhanced Monitoring, Radiation Monitoring, Nuclear Security, Nuclear Fuel Cycle Optimization, Simulation and Training, and Data Analytics. The growth and adoption of AI in the nuclear energy market are dynamic and subject to various external factors, including regulatory changes, technological advancements, and public sentiment. Active companies in news today include: KULR Technology Group, Inc. (NYSE: KULR), Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOGL), Microsoft Corporation (NASDAQ: MSFT), Oracle Corporation (NYSE: ORCL).

InsightAce Analytic continued, "Nevertheless, a significant challenge is the high initial costs associated with implementing AI technologies. Nuclear facilities require substantial investments in AI infrastructure, data systems, and cybersecurity measures. These upfront expenses can deter some organizations from embracing AI in nuclear energy despite its potential long-term benefits for reactor operations, safety, and waste management. Balancing the cost with the expected advantages is crucial for the industry's stakeholders. The nuclear power plant operations segment was the dominant segment in the market in (recent years) and is expected to retain its dominance in the forecast period. The main reason for integrating AI with nuclear power plant operations is to increase efficiency and safety and reduce operational costs and the risk of accidents. AI can create simulations for plant operators, enabling them to practice emergency response procedures in a safe environment. AI can also assist power plant operations by analyzing large amounts of data generated by nuclear power plants to help make informed decisions and improve overall performance.”

KULR Technology Group, Inc. (NYSE American: KULR) Designs for Small Modular Nuclear Fusion Reactors - KULR Technology Group, (the "Company" or "KULR"), a provider of advanced thermal management solutions, today announced the development of its proprietary carbon fiber designed custom cathodes in small modular reactors (SMRs) for a prominent nuclear fusion company. As global demand for sustainable energy grows in response to an increased focus on nuclear from hyperscalers aiming to keep up with the rising energy demands of data centers related to the AI boom, KULR’s innovations are contributing to the increasing buildout of abundant, clean energy sources.

Nuclear fusion, often regarded as the "holy grail" of clean energy, offers the promise of unlimited energy production free from fossil fuels, with a low environmental impact compared to conventional nuclear fission. By working with leading nuclear fusion companies, KULR aims to advance the possibilities of fusion technology to meet the energy demands of tomorrow while addressing climate change.

According to Goldman Sachs, data center energy demand currently represents 1-2% of global demand and is set to double by 2030 largely driven by demand for AI powered applications.

The custom cathodes designed by KULR will be implemented in a laser-based nuclear fusion system for small modular reactors, an emerging technology with the potential to deliver affordable, reliable nuclear fusion energy. Laser-based fusion is a rapidly advancing approach that utilizes high-powered lasers to initiate fusion reactions, offering a promising alternative to traditional fusion methods.

The Company’s proprietary carbon fiber cathode, designed initially for aerospace and defense applications, has proven capabilities in harsh environments. This innovative material was developed alongside related technologies which are utilized in aerospace and missile systems, including the Mars Rover. The same high-performance standards that enable success in space missions are now being applied to energy platforms on Earth.

“KULR’s expertise in space-proven engineering uniquely positions us to support mission-critical energy solutions,” KULR CEO Michael Mo added. “By applying our advanced materials to nuclear fusion, we are taking meaningful steps toward addressing the United States’ critical energy needs and advancing its broader goals of energy security and sustainability.”

This new application of KULR’s technology in laser-based nuclear fusion for small modular reactors reinforces the company’s leadership in the energy management space, as well as its commitment to advancing the global energy transition. With this engagement, KULR continues to demonstrate how innovative engineering can play a pivotal role in shaping a cleaner, more sustainable future. CONTINUED… Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/

In other developments in the markets of note:

Amazon.com, Inc. (NASDAQ: AMZN) recently said: “As we continue on our path to net-zero carbon, we recently announced that we matched all of the electricity consumed by our global operations with 100% renewable energy—seven years ahead of our 2030 goal. As the energy needs of our business and customers continue to grow, we’re continuing to invest in renewables while also finding additional sources of carbon-free energy that can both help power our operations and bring new sources of energy to the grid. Nuclear power is one part of that mix—it can be brought online at scale, and has a decades-long record of providing a reliable source of safe carbon-free energy for communities around the world.

Today (Oct 16,2024), we’re announcing that we’ve signed three new agreements to support the development of nuclear energy projects—including enabling the construction of several new Small Modular Reactors (SMRs). SMRs are an advanced kind of nuclear reactor with a smaller physical footprint, allowing them to be built closer to the grid. They also have faster build times than traditional reactors, allowing them to come online sooner.

Nuclear is a safe source of carbon-free energy that can help power our operations and meet the growing demands of our customers, while helping us progress toward our Climate Pledge commitment to be net-zero carbon across our operations by 2040,” said Matt Garman, CEO of Amazon Web Services (AWS). “One of the fastest ways to address climate change is by transitioning our society to carbon-free energy sources, and nuclear energy is both carbon-free and able to scale—which is why it’s an important area of investment for Amazon. Our agreements will encourage the construction of new nuclear technologies that will generate energy for decades to come.”

Alphabet Inc. (NASDAQ: GOOGL) recently said it has signed the world's first corporate agreement to buy power from multiple small modular reactors to meet electricity demand for artificial intelligence.

The technology company's agreement with Kairos Power aims to bring Kairos' first small modular reactor online by 2030, followed by additional deployments through 2035. The companies did not reveal financial details of the agreement or where in the U.S. the plants would be built. Google said it has agreed to buy a total of 500 megawatts of power from six to seven reactors, which is smaller than the output of today's nuclear reactors.

"We feel like nuclear can play an important role in helping to meet our demand ... cleanly in a way that's more around the clock," Michael Terrell, senior director for energy and climate at Google, told reporters on a call. Technology firms have signed several recent agreements with nuclear power companies this year as artificial intelligence boosts power demand for the first time in decades.

An article in BARRON’S recently said that Microsoft Corporation (NASDAQ: MSFT) is so hungry for clean, reliable power that it’s paying at least twice the going electricity rate to ensure it can get power from a nuclear reactor for the next 20 years, analysts estimate. The price tag shows just how much big tech firms are willing to spend to secure enough capacity to power the massive data centers they’re using to run artificial intelligence applications.

But even using rough numbers, the value of the deal to Constellation and other power producers is clear. Wall Street expects some companies that own nuclear reactors to post better earnings in the future, based on the value of the Microsoft deal.

Oracle Corporation (NYSE: ORCL) Chairman and co-founder Larry Ellison recently had a “bizarre” announcement to make. The electricity demand from artificial intelligence is becoming so “crazy” that Oracle is looking to secure power from next-generation nuclear technology, Ellison told investors on a company earning call. “Let me say something that’s going to sound really bizarre,” Ellison told analysts. “Well, you’d probably say, well, he says bizarre things all the time, so why is he announcing this one. It must be really bizarre.”

“Oracle is designing a data center that will require more than a gigawatt of electricity,” the company’s chairman said. “The data center would be powered by three small nuclear reactors,” he added. “The location and the power place we’ve located, they’ve already got building permits for three nuclear reactors,” Ellison said. “These are the small modular nuclear reactors to power the data center. This is how crazy it’s getting. This is what’s going on.”

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