President Trump and Japanese Prime Minister Sanae Takaichi are set to unveil a major nuclear energy initiative Thursday, with GE Vernova and Hitachi expected to build small modular reactors in Tennessee and Alabama at a projected cost of up to $40 billion, according to a White House official.
The project, tied to a broader U.S.-Japan investment fund established under a recent trade agreement, is aimed at stabilizing electricity prices and strengthening U.S. competitiveness in the global race to power artificial intelligence infrastructure and large-scale data centers.
Officials said the small modular reactors, or SMRs, are intended to provide on-demand energy to support industrial expansion. The announcement follows earlier deals under the bilateral fund, including energy and manufacturing projects, as Japan secures improved trade terms and expands direct investment pathways into the United States.
