After 22 long years of development, TerraPower began construction last month on its first advanced nuclear plant. The Bill Gates-founded company claims its Natrium reactor, now being built in Wyoming, will be cheaper and safer than existing nuclear energy solutions.

Among Gates’ hopes is that the technology can be exported to the poorest countries in the world. But TerraPower’s advancements have also attracted the attention of the world’s wealthiest companies. According to Gates, Microsoft and Google have both engaged in discussions with TerraPower regarding its nuclear energy capabilities.

Much like Australia’s Parliament House, Big Tech is working out whether nuclear power is worth the fuss. The artificial intelligence boom has significantly increased electricity demands for data centres, prompting companies like Microsoft, Google, Meta, and Amazon to seek ways to meet these demands while achieving ambitious net-zero goals. This has led them to increasingly consider nuclear energy.

Their findings may be instructive to the debate over Peter Dutton’s nuclear plan, which is likely to rage at least until the next election.

Tech giants are willing to purchase existing nuclear capacity but are reluctant to fund the development of facilities that use current technology. Instead, they are betting that a few breakthroughs can dramatically change the equation.