Westinghouse Electric is pursuing a valuation above $50 billion in a U.S. initial public offering after confidentially filing a draft registration statement with the Securities and Exchange Commission on July 31, 2026. Brookfield Renewable Partners owns 51% of the company and Cameco Corp. owns 49%, following their acquisition of Westinghouse at an enterprise valuation of roughly $8 billion in late 2023. The proposed valuation would be more than six times that figure and exceeds analysts’ estimates ranging from $26 billion to above $30 billion. The offering comes as the U.S. government, Brookfield and Cameco pursue at least $80 billion in deployment contracts for new Westinghouse AP1000 reactors. The partnership allows the government to acquire as much as 20% of Westinghouse if milestones are met, including a $30 billion valuation by January 2029. Westinghouse technology serves 57% of the world’s 417 nuclear reactors, while the company has up to 91 opportunities for its latest-generation reactor. Citigroup and Goldman Sachs are leading the IPO, with Canadian Imperial Bank of Commerce, JPMorgan Chase and Royal Bank of Canada also reportedly involved. Cameco’s U.S. shares rose as much as 3.6% after the earlier report. Investors will weigh the valuation against the operating history of the AP1000 project at Georgia’s Vogtle plant, which was completed years late and billions of dollars over budget.