Antares Nuclear announced on July 27, 2026 that it raised a $470 million Series C — $370 million in equity and $100 million in debt — led by Paradigm and Caffeinated Capital, with Industrious Ventures, Point72 Ventures and Shine Capital participating. The company builds small modular reactors producing 100 kW to 1 MW using TRISO fuel; its Mark-0 demonstration reactor reached criticality on June 4 at Idaho National Laboratory. Antares is one of three finalists in the Pentagon's Advanced Nuclear Power for Installations program, which will test SMRs at Air Force bases in Colorado and Montana, and targets its first electricity-producing reactor next year with military deployments in 2028. Total funding is about $604 million after a $96 million Series B in December. Investor interest in fission is being driven by AI data center power demand; Lazard estimates new SMRs at roughly $214 per MWh.