Argentina's President Javier Milei has unveiled plans to position the country as a nuclear energy pioneer, linking the initiative to growing power demands from artificial intelligence.

"Nuclear energy will make its triumphant return and we will not only not be left behind, but we intend to be pioneers," Milei declared, alongside Argentine IAEA Director General Rafael Mariano Grossi and chief adviser Demian Reidel, who will oversee the new programme.

The president tied the nuclear initiative to technological innovation, stating, "We are contemporaries of a true technological revolution ... the development of artificial intelligence opens a new frontier for this manifest destiny that we share as a species."

He criticised other nations' approach to innovation, noting that "many of the free nations that have always been at the forefront of technological development are now afraid of innovation and punish the technological sector with taxes and regulations."

Milei emphasised nuclear power's crucial role in meeting future energy demands: "The potential for development in artificial intelligence is so immense that conventional energy will not be enough to supply this new demand," adding that "nuclear energy is the only source that is sufficiently efficient, abundant and rapidly scalable to cope with the development of our civilisation."

The initial phase involves constructing a small modular reactor at the Atucha site, according to Reidel.

The project will utilise Argentine technology but seek US investment through a joint venture with Invap, targeting operation by 2030. A second phase aims to develop uranium reserves for domestic use and export.

The IAEA signed a memorandum of understanding with Argentina focusing on small modular reactor development "to meet the energy demands of data centres and AI applications," Grossi confirmed.

Argentina currently operates three nuclear power units: Atucha 1 (connected in 1974), Atucha 2 (connected in 2014), and Embalse (1983), which provide about 5% of the country's electricity.

Under the new initiative, the status of a planned fourth unit, Atucha III, contracted to China's CNNC in 2022, remains unclear. The president previously stated that he would seek to distance himself from Chinese investment.

The country's existing SMR project, CAREM-25, a 32 MWe prototype that began construction in 2014, has faced multiple delays and is currently about two-thirds complete. Funding uncertainties prompted a Critical Design Review in May this year.