🔌 New York State Embraces Nuclear To Power An AI Future

In today’s newsletter I discuss New York State embrace of nuclear power, Tesla rolls out their robotaxi service, Paris Hilton buys Mark Wahlberg's old mansion, Jon Bernthal to play The Punisher in the upcoming film “Spider-Man: Brand New Day”, Ripple seems to be gearing up for an IPO, and Mark Walter just bought the Los Angeles Lakers.

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🔌 New York State Embraces Nuclear To Power An AI Future

New York State is throwing down the gauntlet in the race to embrace nuclear energy, and fuel the future of not only clean energy, but also to become a beacon for the energy hungry AI datacenters that tech giants are falling over themselves to build.

Governor Kathy Hochul just announced a directive to the New York Power Authority (NYPA) mandating the development of at least one gigawatt of new capacity from advanced nuclear power sources in upstate New York. What is key to Governor Kathy Hochul’s directive is she isn’t asking for a single large reactor that could take a decade to permit, build, and bring online, but rather she is open to the development of multiple smaller nuclear generators, referred to in the industry as small modular reactors (SMRs). This approach reflects a growing consensus in the nuclear industry that SMRs offer a more scalable and manageable pathway for nuclear expansion.

Small Modular Reactors (SMRs) are advanced nuclear fission reactors that are significantly smaller than conventional nuclear power plants, typically producing up to 300 megawatts electric. Their "modular" nature means they are designed to be built in a factory, then transported and assembled on-site, which can reduce construction time and costs. This module homes, but with radioactive nuclear energy. Just like their larger nuclear reactor cousins, SMRs generate electricity by harnessing the heat from controlled nuclear chain reactions to create steam, which then drives a turbine connected to a generator. Many SMR designs incorporate advanced passive safety features that rely on natural physical phenomena like gravity and natural circulation to cool the reactor, which enhances safety. Some major companies are at the forefront of SMR development including NuScale Power (which is backed by BlackRock), GE Hitachi Nuclear Energy, TerraPower (backed by Bill Gates), Westinghouse Electric Company, Rolls-Royce SMR, and China National Nuclear Corporation (which is backed the China’s communist government).

The United States is experiencing a nuclear power resurgence, largely propelled by the escalating energy demands of artificial intelligence data centers. These AI data centers are not just large, but constant electricity consumers, requiring stable power 24/7. Industry projections indicate U.S. data center power demand could more than double by 2035, surging from approximately 35 gigawatts in 2024 to 78 gigawatts in 2035, creating immense strain on existing grids and driving the search for robust, dispatchable energy sources.

Energy demand isn’t the only thing that is changing. The financial calculus for nuclear power is being reshaped by this new demand. Traditional large plants like Georgia's Vogtle cost an estimated $35 billion dollars to build in today’s dollars. In contrast, SMRs that are factory-built and rapidly deployable, aim to reduce construction times and capital costs.

For example, some SMR designs project construction costs for a 462-megawatt facility at $9.3 billion dollars. Proponents argue that as more SMRs are built, manufacturing efficiencies will drive down costs and make the cost of electricity they produce more competitive.

Tech giants, like Microsoft, Google, Amazon, Meta, and Oracle, are actively engaging with the nuclear sector, signing power purchase agreements for nuclear energy, with some agreements extending beyond 2040. This direct engagement provides predictable revenue streams, de-risking new nuclear projects and making them more attractive to private capital. Some innovative companies are even designing dedicated nuclear reactors specifically for hyperscale data infrastructure, emphasizing modularity and grid independence, demonstrating a clear industry push for secure, reliable power directly for AI operations. These same tech companies have been at the forefront of these investments, recognizing nuclear energy's ability to provide consistent, carbon-free baseload power to meet the rapidly escalating demands of their AI data centers. Microsoft, for instance, has partnered to restart a reactor at Three Mile Island, while Google is collaborating with Kairos Power for SMR deployment, and Amazon is investing in data centers directly adjacent to nuclear plants. Oracle is even pursuing permits for its own SMRs to power a gigawatt-scale data center.

The federal government is responding by accelerating licensing processes and strengthening the domestic nuclear industrial base, aiming to quadruple domestic nuclear output by 2050. This bipartisan recognition of nuclear's role in powering the AI revolution, meeting clean energy goals, and enhancing national security, signals a profound shift in energy policy. New York Governor Kathy Hochul's embrace of nuclear energy will ensure that New York remains at the forefront of the boom in nuclear energy and AI data centers.

🚕 Business

Tesla's long awaited, and much talked about, robotaxi service has begun in Austin, Texas, with a limited rollout of Model Y vehicles and a flat fare of $4.20 dollars (get it?) per ride for invited users. These initial rides include a "safety monitor" in the passenger seat, despite Elon Musk's claims that the service would be fully automated. Analysts like Dan Ives of Wedbush Securities believe robotaxis could double Tesla's market capitalization by the end of 2026, if they can just figure out how to remove those pesky people from the driver’s seat.

🎬 Entertainment

Jon Bernthal is set to reprise his role as Frank Castle, also known as The Punisher, in the upcoming film “Spider-Man: Brand New Day”, alongside Tom Holland's Spider-Man. While specific financial details for Jon Bernthal's involvement in this film are not yet public, his previous role as The Punisher in the Netflix series earned him $350,000 dollars per episode, contributing to his estimated net worth of $12 million dollars as of 2025.

The last Spider-Man film, “Spider-Man: No Way Home”, grossed $1.92 billion dollars worldwide, so clearly, they needed a darker, grittier anti-hero to make sure “Spider-Man: Brand New Day” pulls in even bigger numbers.

🏡 Real Estate

Paris Hilton and her husband, Carter Reum, have purchased Mark Wahlberg's former Beverly Park mansion for $63.1 million dollars, following the loss of her $8.4 million dollars Malibu home in the recent Los Angeles wildfires. The sprawling 30,500-square-foot estate boasts 12 bedrooms and 20 bathrooms.

🪙 Crypto

Ripple is launching a $700 million dollars share buyback program to repurchase shares from employees and current shareholders at $175 dollars per share. This move aims to return capital to existing shareholders and consolidate ownership. Ripple’s CEO Brad Garlinghouse has gone on record stating that Ripple has no plans to go public in 2025. I would argue in light of Circle’s stock being up approximately 794.74% since its IPO, and the U.S. Senate just passed the GENIUS bill enshrining into law stablecoins, then Ripple might want to reconsider the timing of their future IPO to take advantage of current market conditions as soon as they settle that pesky SEC lawsuit that is sitting on Judge Torres’ desk awaiting dismissal.

🏈 Sports

The Buss family has reportedly agreed to sell a majority stake in the Los Angeles Lakers to Mark Walter, CEO and chairman of TWG Global, in a deal valuing the franchise at approximately $10 billion dollars. This marks the highest valuation ever for a professional sports team. The Buss family, who bought the Lakers in 1979 for $67.5 million dollars, will retain a minority share, with Jeanie Buss expected to remain as the team's governor. 

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irl Media NEWSLETTER is written, edited, and published by Chris Thompson.