Sequoia-backed Valar Atomics secures $1 billion round to scale SMR production

Valar Atomics confirmed it has closed a $1 billion equity round headed by Sequoia, with partner Shaun Maguire taking a board seat, and secured a $200 million line of credit from Erebor and additional lenders. Although the firm did not disclose its exact valuation, one outlet's reports it at roughly $6 billion. The company focuses on small modular nuclear reactors that are built in factories to cut costs and construction time.

In June it successfully ran its Ward 250 reactor to power Nvidia’s Blackwell AI system and announced a collaboration with Nvidia to create a water-free 30 MW AI manufacturing plant. Valar says each new reactor shortens development cycles, aiming to eventually produce thousands annually. Other recent nuclear financing includes Antares’ $470 million raise and X-energy’s $1 billion IPO, while the round also attracted investors such as Apandion Capital, Atreides Management, Conviction, Dream Ventures, HOF Capital, Point72 Ventures, Riot Ventures, Snowpoint Ventures and Valor Equity Partners.