Valar Atomics, a nuclear startup backed by Palmer Luckey and Palantir CTO, raises $130M to build thousands of advanced reactors

Valar Atomics, a Los Angeles–area tech startup betting on advanced nuclear technology, has raised $130 million in fresh funding backed by Anduril Industries founder Palmer Luckey and Palantir CTO Shyam Sankar. The raise, led by Snowpoint Ventures, Day One Ventures, and Dream Ventures, pushes Valar’s total funding to more than $150 million. Lockheed Martin board member and former AT&T executive John Donovan also joined the round.

According to Bloomberg, “Anduril Industries Inc. founder Palmer Luckey, a Lockheed Martin Corp. board member, Palantir Technology Inc.’s Shyam Sankar and other investors are putting $130 million into Valar Atomics, a nuclear startup that’s aiming to build thousands of advanced nuclear fission reactors within a decade.”

Founded in Hawthorne, California, Valar Atomics is positioning itself as part of a new generation of energy startups looking to make nuclear power smaller, faster to deploy, and more scalable. The company began construction in September on its first reactor in Utah and says it’s on track to demonstrate 100 kilowatts of thermal energy by July 4. Its long-term plan is to mass-manufacture small modular reactors and cluster them at “gigasites” that could power artificial intelligence data centers, industrial manufacturers, and other high-demand facilities.

“The company plans to mass manufacture small modular reactors and cluster them at so-called gigasites, where they will help power artificial intelligence data centers, industrial manufacturers and other customers,” Bloomberg reported.

Doug Philippone, co-founder of Snowpoint and former head of global defense at Palantir, will join Valar’s board. Philippone’s involvement ties the company to a broader ecosystem of defense-tech investors who have been quietly moving into the energy sector.

From Defense to Energy: Palmer Luckey and Palantir CTO Invest $130M in Valar Atomics to Power AI Data Centers with Next-Gen Nuclear Reactors

Valar is also one of several nuclear startups hoping to benefit from President Trump’s push to accelerate advanced reactor deployment by cutting red tape and streamlining the Nuclear Regulatory Commission’s approval process. The company and a handful of states have filed suit against the NRC over its licensing process for small reactors, arguing that the current system stifles innovation. The case has been temporarily paused during the government shutdown, but the startup expects progress soon following Trump’s executive order targeting regulatory reform.

In August, the Department of Energy selected Valar and other developers for a pilot program to deploy at least three advanced test reactors by July 2026. The company’s design uses helium as a coolant and runs at much higher temperatures than traditional plants—technology it believes can deliver cleaner, more efficient, and factory-scale nuclear power.

Valar Atomics broke ground in September at Utah’s San Rafael Energy Lab, operated by the Utah Office of Energy Development. Its test reactor will anchor the company’s vision of building hundreds of small, high-temperature reactors on a single site—an approach it says could redefine how nations think about reliable power generation in the age of AI.