Palantir Technologies (PLTR) shares rose to a new record high Thursday as the data integration software maker is taking advantage of the soaring demand for electricity to drive artificial intelligence (AI) data centers by striking a deal with a big nuclear power plant builder.

The company announced a strategic partnership with The Nuclear Company, which it calls the "leading gigawatt-scale deployment of nuclear power across America and pioneering the modernization of nuclear construction." The deal calls for the two firms to "co-develop and deploy NOS, the first AI-driven, real-time software system built exclusively for nuclear construction." NOS will be used to help The Nuclear Company build plants faster, safer, and at lower costs, Palantir said.  

Mike Gallagher, Head of Defense at Palantir, said the agreement "marks the first time Palantir's software will be used to help power the next generation of nuclear energy infrastructure." Gallagher added that by teaming up with The Nuclear Company, Palantir is "laying the foundation for a new era of resilient, intelligent and secure energy systems in the United States and beyond."

Palantir noted that last month, President Donald Trump called for 400 gigawatts of nuclear power generation by 2050, and 10 large-scale reactors to be under construction by 2030 as a way to ensure that America has the electricity needed to lead the world in AI. The Nuclear Company CEO Jonathan Webb explained that with the creation of NOS, "we finally break the cycle of delays, deliver a new energy future, and protect America's nuclear leadership from China, so we don't lose it like we did manufacturing decades ago."

Shares of Palantir Technologies set a new intraday record of $147.91 soon after the opening bell and recently were up more than 2% to $145.55. They are up about 95% this year.