Shares of **X-Energy** (NASDAQ: XE) dropped 19% this week following construction delays and an analyst downgrade from Jeffries, which lowered its price target from $30 to $22. The nuclear energy startup, which went public in April, currently lacks an approved reactor design, and its first project with Amazon is now delayed until 2027.
Despite a market capitalization of **$7.7 billion**, X-Energy generates minimal revenue at this stage and faces significant operational hurdles requiring substantial upfront investments. The company partners with Amazon to develop advanced nuclear reactors intended to power Amazon data centers, but progress remains stalled due to the absence of regulatory approval from the U.S. government.
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