AI Boom Cracks Open Climate Tech's Long-Closed IPO Door

Climate tech startups struggled for years to attract public investors due to capital intensity, long timelines, and the challenge of pricing pollution reduction. The AI boom and surging data center electricity demand have changed the calculus entirely, making nuclear and geothermal solutions suddenly attractive to mainstream investors. X-energy and Fervo's successful IPOs signal that climate tech's moment has finally arrived—driven by fundamental market economics rather than ESG mandates.