Westinghouse Electric targets $50B+ valuation in planned US IPO

Westinghouse Electric Co. is preparing for a U.S. initial public offering (IPO) with a target valuation exceeding $50 billion. The company, which provides reactor technology for more than half of the world’s operating nuclear plants, reportedly filed a draft registration statement with the SEC in July 2026.

The company is currently owned by Brookfield Renewable Partners, which holds a 51% stake, and Cameco Corp., which holds 49%. This target valuation represents a significant increase from the approximately $8 billion enterprise valuation at which the pair acquired the company in late 2023.

A strategic partnership involving the U.S. government, Brookfield, and Cameco aims to deploy new Westinghouse AP1000 reactors, with a goal of securing at least $80 billion in deployment contracts. Under this arrangement, the U.S. government has a provision to acquire up to a 20% equity stake in Westinghouse if specific milestones are met, including the company reaching a $30 billion valuation by January 2029.