Vivek Ramaswamy's nuclear startup Atlas Atomics raises about $400M at a $1.9B valuation

Atlas Atomics, a stealth nuclear startup co-founded and backed by Vivek Ramaswamy, has raised about $400 million in a Series A at a valuation of around $1.9 billion, Bloomberg reported on 8 October 2026, citing people familiar with the matter.

What's the deal? General Catalyst is leading the round and Andreessen Horowitz is participating. Atlas Atomics, General Catalyst and a16z declined to comment, so the terms remain reported rather than company-confirmed.

Context: Atlas Atomics is developing improved heavy-water reactor technology that does not rely on enriched uranium and could therefore be cheaper. It is run by co-founder Kevin Gan, who spent more than 15 years investing in energy companies, most recently at Millennium and earlier at D.E. Shaw. Balendra Sutharshan, a former chief operating officer of Oak Ridge National Laboratory, is chief nuclear officer.

Source: Bloomberg (Eyk Henning, Natasha Mascarenhas, Rebecca Torrence)