President Trump’s initiative to share U.S. nuclear technology with Saudi Arabia supports his administration’s global expansion of nuclear power projects. This move underscores efforts to address rising energy demand driven by data-center growth and industrial needs, leveraging both traditional reactors and advanced small modular designs.
While no direct coordination between Trump’s inner circle and the Saudi agreement has been proven, numerous entities tied to the administration or its allies stand to gain from the proliferation of nuclear infrastructure. Investors linked to these projects, including those with connections to the Trump family or close associates, may see financial returns as deployment timelines extend over years.
Key players in this sector include Westinghouse, a Canadian-owned U.S. firm with government backing for its AP1000 reactor technology. Brookfield Asset Management, a primary owner of Westinghouse, has business ties to Newmark, a real-estate firm co-owned by sons of Commerce Secretary Howard Lutnick. Such interconnections have raised scrutiny over potential conflicts of interest.
Defending the policy, White House spokesperson Taylor Rogers emphasized its focus on energy security: “President Trump’s leadership has driven historic progress in nuclear innovation to meet growing demands while keeping costs stable.” Westinghouse CEO Dan Sumner echoed this, calling the Saudi deal a “landmark opportunity for U.S. industry.”
Brookfield Asset Management highlights robust governance protocols to address conflicts, citing its substantial global portfolio. However, critics note the administration’s energy secretary, Chris Wright, had prior ties to Oklo, a nuclear startup receiving federal permits. Wright denied involvement in Oklo’s operations post-appointment.
The Commerce Department, led by Lutnick, has actively promoted nuclear investments through tax dollars, channeling funds to firms like Cantor Fitzgerald. This bank has facilitated millions in fees for nuclear sector clients, including Energy Fuels and Oklo, both of which have received federal loans or contracts.
Trump’s personal ventures also intersect with the nuclear push. Trump Media & Technology Group, owner of Truth Social, recently merged with a nuclear fusion startup, TAE Technologies, which previously received federal funding. The company’s stock value could rise if the merger succeeds.
Sons Eric Trump and Donald Trump Jr. hold stakes in Quantum Leap Energy, a firm developing nuclear fuel isotopes partnered with former energy secretary Rick Perry. Jared Kushner’s Affinity Partners received $2 billion from Saudi Arabia’s wealth fund, though Kushner has not confirmed involvement in the nuclear deal.
Tech giants like Amazon, Meta, and Microsoft have backed Trump’s energy policies while expanding data infrastructure. Their $1 million inauguration donations and AI-driven energy initiatives, such as Microsoft’s Genesis Mission, reflect alignment with Trump’s nuclear agenda aimed at stabilizing power grids.