Cameco Corp. has secured a $17.5 billion conditional loan from the U.S. Department of Energy to advance nuclear power projects, with support from Brookfield. The financing is explicitly structured to accelerate both the nuclear supply chain and deployment of capacity for data center power.

The loan addresses a critical infrastructure gap as hyperscalers increasingly pursue nuclear energy to meet growing demand from AI workloads and data center operations. By targeting both supply-chain acceleration and power deployment, the financing aims to compress timelines for bringing new nuclear generation online—a key bottleneck for companies seeking reliable, low-carbon power for AI infrastructure.

The involvement of the DOE signals federal backing for nuclear as a foundation of the AI buildout infrastructure stack. For AI cloud operators and chip makers dependent on consistent power supply, this loan represents a material step toward securing dedicated nuclear capacity, complementing existing grid power and renewable procurement strategies.