06:38 AM EDT, 10/28/2025 (MT Newswires) -- Brookfield Asset Management ( BAM ) and Cameco ( CCJ ) said Tuesday they have entered a $80 billion partnership with the US government to build new Westinghouse Electric nuclear reactors across the US.

The partnership aims to expand nuclear power generation and meet growing energy needs of artificial intelligence data centers, the companies said.

The US government will arrange financing and facilitate permits and approvals for the new reactors, according to Cameco ( CCJ ).

Under the partnership, the US government will receive a participation interest entitling it to 20% of cash distributions from Westinghouse above $17.5 billion once it makes a final investment decision and enters into definitive agreements, Cameco ( CCJ ) said.

If vested and Westinghouse pursues an initial public offering valued at $30 billion or more before January 2029, the government could require the IPO and convert its interest into a warrant to purchase up to 20% of the public entity's equity, Cameco ( CCJ ) said.

Each two-unit Westinghouse AP1000 project is expected to create or sustain about 45,000 manufacturing and engineering jobs in 43 states, with a national deployment potentially supporting more than 100,000 construction jobs, Brookfield Asset Management ( BAM ) said.

Brookfield and Cameco ( CCJ ) acquired Westinghouse in 2023.

The companies said the partnership remains subject to regulatory approvals and other customary conditions.

Shares of Brookfield Asset Management ( BAM ) were up more than 4%, while Cameco ( CCJ ) shares were up more than 12% in recent Tuesday premarket activity.