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How Equinix Is Betting on Nuclear Power for Data-Center Growth

Equinix’s nuclear strategy combines announced agreements with Oklo, Radiant, ULC-Energy and Stellaria with utility, grid, fuel-cell and efficiency measures. The projects are future-oriented; the announcements do not show that nuclear power is already supplying Equinix data centers.
From TheFinanceBase Team4 min to read
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Equinix is not running its data centers on newly delivered nuclear power today. Its August 2025 announcements describe a portfolio of agreements, preorders and a letter of intent intended to secure future electricity as grid capacity tightens. The named nuclear partners are Oklo, Radiant, ULC-Energy and Stellaria, alongside utility contracts, grid upgrades, fuel cells, natural gas and efficiency projects.

Why Equinix is pursuing new power sources

Data centers need dependable electricity around the clock, and Equinix says power availability and capacity are factors in deciding where to expand. The company has linked rising demand from cloud computing and artificial intelligence to a need for more generation and stronger grids. In its August 14, 2025 announcement, Equinix quoted Executive Vice President of Global Operations Raouf Abdel saying that “Access to round-the-clock electricity is critical to support the infrastructure that powers everything from AI-driven drug discovery to cloud-based video streaming.”

Equinix attributed a forecast of 4% annual growth in global electricity consumption through 2027 to the International Energy Agency. That is a dated forecast cited in the 2025 announcement, not a newly verified projection here.

The four nuclear-related arrangements

Partner Arrangement Capacity or quantity stated Geography or technology detail What the announcement establishes
Oklo Agreement to procure power, dated 2024 500 MW Oklo Aurora powerhouses An announced procurement agreement, not operating supply
Radiant Preorder agreement 20 Kaleidos microreactors Microreactor technology; a comparable delivered capacity was not stated A preorder, not proof of deployed reactors
ULC-Energy Letter of intent for a potential power-purchase agreement Up to 250 MWe Data centers in the Netherlands; ULC-Energy selected Rolls-Royce SMR as its preferred technology for its Netherlands plans A potential PPA rather than a finalized, operating project
Stellaria Pre-order power agreement 500 MWe Support for data-center expansion in Europe An announced future-oriented agreement

The units and forms should remain as reported. MW and MWe are not interchangeable proof of firm deliveries, and the figures should not be added together as though they represented one operating portfolio. They refer to different technologies, locations and stages of commitment.

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These projects are not yet evidence of nuclear-powered Equinix sites

In an August 2025 interview, Equinix Senior Vice President and Chief Procurement Officer Ali Ruckteschler said, “Many of these next-generation nuclear technologies are still several years away from deployment, so it’s a little early to be thinking about site selection.” That statement is a status description from 2025, not a current construction or commissioning update.

Equinix’s April 2025 commentary likewise said small modular reactors were not yet widely used in data centers. The company described the Oklo arrangement as an agreement to procure 500 MW, but that description does not independently validate reactor maturity, licensing, construction progress or delivered electricity.

Accordingly, the defensible reading is that Equinix is positioning itself for future nuclear supply. The available announcements do not establish firm in-service dates for all four arrangements, nor do they show that any of the named projects is currently supplying Equinix data centers.

Nuclear is one part of a broader power strategy

Equinix’s plan is diversified rather than nuclear-only. Its August 2025 announcement described several parallel measures:

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  • Expanding relationships with electric utilities.
  • Supporting grid upgrades and additional transmission or distribution capacity.
  • Using on-site generation options, including fuel cells and natural gas.
  • Continuing energy-efficiency initiatives to reduce electricity required for a given workload.
  • Exploring next-generation nuclear technologies for dependable, lower-carbon power.

The company also announced an expansion of its Bloom Energy fuel-cell deployment. These measures can address near- and medium-term constraints while nuclear technologies move through design, licensing, financing, manufacturing and construction.

How Equinix reports renewable-energy coverage

Equinix reports high renewable or clean-energy coverage, but the figures have different dates and scopes:

Measure Figure Period and scope
Renewable-energy coverage 96% Global electricity consumption in 2024, reported in Equinix’s 2025 Form 10-K; the filing says coverage was 100% in the United States and Europe
Clean and renewable-energy coverage 96% Retail IBX data centers in 2025, according to Equinix’s sustainability page
Net-zero objective Target year 2040 Company sustainability target

Those percentages should not be collapsed into one timeless statistic. Renewable-energy coverage can reflect contractual instruments and reporting methods, while nuclear generation would address the physical availability and reliability of electricity. Neither metric proves that the announced nuclear projects are operating.

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What the announcements mean for investors and customers

For investors

The agreements signal that Equinix views electricity access as a strategic constraint on growth. They may improve the company’s options if next-generation reactors become commercially available, but they also carry normal development uncertainties: licensing, construction schedules, cost, financing, fuel supply, grid interconnection and regulatory approval. The announcements alone do not establish future earnings, project returns or guaranteed capacity.

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For data-center customers

Customers should treat the nuclear commitments as a future sourcing strategy, not as a present guarantee that workloads run on reactor-generated electricity. Actual power mix, reliability and emissions characteristics will depend on the specific facility, local utility arrangements and whether a project reaches operation.

For the wider electricity market

Equinix’s approach illustrates how large electricity users are trying to secure supply before new generation is available. Preorders and letters of intent can help developers demonstrate potential demand, but they are not substitutes for licensed, financed and commissioned plants.

Bottom line

Equinix is betting on nuclear as one option in a larger effort to secure dependable electricity for data-center expansion. Its announced relationships cover 500 MW from Oklo, 20 Radiant microreactors, up to 250 MWe in a potential Netherlands arrangement with ULC-Energy and 500 MWe from Stellaria. As of the statements available from 2025, these remain agreements, preorders or future plans—not evidence that Equinix data centers are already receiving nuclear power.

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