Google’s Bold Nuclear Move: Powering AI Future with Modular Reactors
1min read As of last week, Alphabet Inc.'s Google C (GOOG) saw a modest increase of 0.33%. Over the past week, the stock has risen by 0.32%, and since the beginning of the year, it has appreciated by an impressive 17.45%, bringing its current market capitalization to $2.031 trillion.
On October 16, 2024, Google C, categorized under interactive media and services, recorded a trading volume valued at $1.659 billion, ranking it 27th among the stocks traded on the U.S. market that day. This volume marks a notable decrease of 33.09% from the previous day, with a trading volume of 9.9685 million shares. The stock itself experienced a slight dip of 0.10% to $166.74.
The performance of Google C for the past five trading days shows an increase of 2.26%; however, the stock has faced a mild decline of 0.27% throughout October. Year-to-date, Google shares have grown by 18.31%, with a 52-week increase standing at 18.26%.
Alphabet Inc., the parent company of Google, was restructured in 2015, having initially been established in California in 1998 and re-registered in Delaware in 2003. The company has a diversified investment portfolio spanning technology, life sciences, capital investment, and research, with subsidiaries like Google, Calico, GV, and Google Fiber. Google mainly focuses on internet search, cloud computing, and advertising technologies, offering a wide array of internet-based products and services.
On October 18, Google C traded lower at $164.70, reflecting a 1.22% decline during intraday trading. Financial reports up to June 30, 2024, showcase Google C's revenue growth of 14.47% year-over-year, amounting to $165.28 billion, alongside a notable increase in net profit of 41.48% to $47.28 billion.
Significant developments around Google include its recently announced agreement with Kairos Power to purchase electricity from six to seven planned small modular nuclear reactors. This initiative aligns with Google's objective to power its data centers and AI operations with clean energy. The deal anticipates reactor deliveries between 2030 and 2035, though the specific construction location remains undecided. This move is part of a broader trend among tech giants exploring nuclear power to address significant energy consumption driven by AI advancements.
The partnership with Kairos Power, a U.S.-backed nuclear energy startup, aims to minimize costs and expedite the construction of nuclear facilities by utilizing smaller, modular designs. These reactors promise swift deployment and enhanced predictability in project delivery. Google's senior director of energy and climate, Michael Terrell, emphasizes nuclear power's pivotal role in facilitating the sustainable growth of AI technologies.
