Cameco, Brookfield Asset Management and U.S. government enter nuclear power pact

Westinghouse Electric, Cameco Corporation (CCJ) and Brookfield Asset Management (BAM) announced that the United States Government has entered into a strategic partnership to accelerate the deployment of nuclear power, in accordance with the President’s May 23 executive orders. At the center of the new strategic partnership, at least $80B of new reactors will be constructed across the United States using Westinghouse nuclear reactor technology. Each two-unit Westinghouse AP1000 project creates or sustains 45,000 manufacturing and engineering jobs in 43 states, and a national deployment will create more than 100,000 construction jobs. As part of the partnership, at least $80B of nuclear reactors will be constructed using Westinghouse technology. Once constructed, the reactors will generate power, including for significant data center and compute capacity. The partnership contains profit sharing mechanisms that provide for all parties, including the American people, once certain thresholds are met, to participate in the long-term financial and strategic value that will be created within Westinghouse by the growth of nuclear energy and advancement of investment into AI capabilities in the United States.