Deep Fission announced plans to build underground reactors

Deep Fission, a startup active in the nuclear energy sector, plans to build underground reactors to provide continuous electricity to artificial intelligence-powered data centers, Zamin.uz reported.

To achieve this goal, the company officially announced its transition to a publicly traded corporation. However, this news has raised various concerns among industry experts and investors.

This is because the company had previously announced in September of last year that it had gone public through a merger with a special purpose acquisition company, a development analyzed by influential publications.

At the time, the company emphasized that it had raised thirty million dollars by selling each share for three dollars, although in practice, its shares did not trade on the stock exchange.

Currently, the company plans to conduct a standard public offering of its shares on the Nasdaq exchange. Under the new plan, the price per share is expected to range from twenty-four to twenty-six dollars, aiming to raise a total of one hundred fifty-seven million dollars.

If this process is successful, the company’s market value is expected to exceed one and a half billion dollars. However, significant uncertainties remain regarding the company’s financial condition and future plans.

According to the company’s securities and the new reports submitted to the Securities and Exchange Commission, the timelines for launching the first reactor have been significantly delayed. Earlier, the company had pledged to achieve a self-sustaining nuclear chain reaction by July of two thousand twenty-six.

However, the new documents do not specify exact dates, which is increasing doubts about the project’s implementation. Deep Fission is currently in a financially difficult situation.

Compared to its status in March of this year, the company’s financial runway has deteriorated to negative eighteen million dollars. If the public offering of its shares does not yield the expected results, the startup may run out of funds within a year and be forced to cease operations, according to an official warning.

This situation once again highlights how crucial financial stability is for startups in the nuclear technology sector.