Nuclear energy startup Deep Fission has announced plans to go public to build underground reactors for powering AI data centers. However, this news raises questions, as the company previously announced a merger with shell company Surfside Acquisition last September. This is reported by Techcrunch.com reports .
Although Deep Fission claimed to have raised $30 million at $3 per share back then, its shares were never actually traded on the exchange. Now, the company plans a traditional IPO on the Nasdaq, aiming to raise $157 million at a price range of $24 to $26 per share, which could value the company at $1.66 billion.
There are also uncertainties regarding the company's financial status and plans. According to a new S-1 filing with the SEC, the timeline for launching the first reactor is slipping. While it was previously promised to reach a self-sustaining nuclear chain reaction by July 2026, no specific dates are provided now.
Deep Fission is facing serious financial difficulties. As of March, the company's deficit grew from $56.2 million to $88.1 million. It has warned that if this IPO is not successful, the startup could run out of funds and cease operations within the next 12 months.
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