Nuclear startup Deep Fission says it’s going public, again, and I have questions

Deep Fission is seeking a traditional Nasdaq IPO to raise up to $157 million after a prior reverse-merger listing that never began public trading.

The company’s new filing shows a weaker financial position, ongoing drilling tests, and no firm timeline for reaching criticality.

Deep Fission also says there is still meaningful doubt it can avoid running out of cash within the next 12 months.

The move underscores how speculative nuclear and AI infrastructure bets remain as the startup faces both funding pressure and engineering risk.