Nuclear batteries are not a new invention, but they lost their place in commercial use back in the 1970s, when they were employed in pacemakers. These batteries were an ideal solution for such medical devices thanks to their long life, but were eventually discontinued due to government concerns about the spread of radioactive isotopes without proper tracking or retrieval. Today, a new generation of scientists is working to bring the nuclear battery back—this time with far broader applications. And while the science behind these batteries is advancing faster than ever, the key question remains whether these innovations will actually reach commercial markets.

Contrary to what the term may suggest, nuclear batteries do not operate like miniature nuclear reactors. Instead, they generate power by capturing radiation released from the decay of small amounts of nuclear fuel, such as plutonium or isotopes of nickel and hydrogen. This radiation can then be converted into electricity through semiconductors or thermoelectric devices. Most importantly, such batteries can last for extremely long periods before needing replacement.

At present, the world relies on lithium-ion batteries, which provide enormous benefits thanks to their flexibility, energy density, and ability to operate in varied conditions. These advantages have made them nearly ubiquitous—powering around 70% of all rechargeable devices worldwide. Yet lithium-ion technology has significant drawbacks. Lithium extraction is environmentally harmful and water-intensive, while supply chains remain heavily concentrated under Chinese control, leaving them vulnerable to market shocks and geopolitical risks. On top of that, lithium-ion batteries degrade quickly and require very frequent recharging.

By contrast, nuclear batteries rarely need replacement, meaning they could power even the most remote and inaccessible locations. Tyler Bernstein, CEO of Zeno Power—a venture-backed nuclear battery startup that recently raised $50 million in a Series B round—said: “With intensifying competition among great powers, the ocean floor, the Arctic, and the lunar surface are the front lines of global security and economic progress—yet they remain energy deserts. With this funding round, we are on track to demonstrate full-scale systems by 2026 and deliver the first commercially manufactured nuclear batteries to power frontier environments by 2027.”

For these reasons, nuclear batteries have become the focus of a new wave of research and development. Instead of lasting weeks or months, a single nuclear battery could run for decades before depleting. A commercially viable nuclear battery could upend countless industries and technologies, becoming something of a “holy grail” for battery developers.

The “nuclear battery race” is now underway in labs around the world. Japan and South Korea have developed prototypes, China recently announced major breakthroughs, and research labs in the UK and the US have also reported significant progress. Each research team has pursued different approaches—some based on thermoelectric technology, others on semiconductors—while employing a range of isotopes including depleted uranium, carbon-14, and copper-63.

Despite many promising models, the biggest challenge is commercialization. IEEE Spectrum noted: “The technology works, it has many advantages over chemical batteries, and it can be used safely. What most companies have failed to do is find a new market for these batteries and create a product with impact.”

The potential applications are vast—from powering spacecraft and deep-sea exploration to enabling a mobile phone that never needs charging. But that does not mean commercialization will be straightforward. As IEEE Spectrum concluded: “The markets these batteries will penetrate—if they reach the commercial stage—will depend heavily on cost, safety, and licensing issues.”

US stock indexes declined during Friday’s session as investors assessed the Federal Reserve’s preferred inflation gauge.

Official data showed that the core Personal Consumption Expenditures (PCE) price index – which excludes food and energy and is the Fed’s preferred measure of inflation – rose 0.3% in July from the prior month and 2.9% year-on-year, its highest level since February, in line with expectations.

The headline PCE price index increased 2.6% year-on-year, unchanged from June’s pace, and 0.2% month-on-month.

According to the CME FedWatch tool, markets are now pricing in an 87.2% probability that the Federal Reserve will cut interest rates by 25 basis points in September.

On Wall Street, the Dow Jones Industrial Average fell 0.1% (49 points) to 45,587 by 14:47 GMT, while the broader S&P 500 declined 0.4% (27 points) to 6,474. The Nasdaq Composite dropped 0.8% (170 points) to 21,534.

Copper prices climbed to a five-week high on Friday and were on track to end August up 3%, supported by a weaker US dollar and growing bets that the Federal Reserve will cut interest rates in September.

The three-month copper contract on the London Metal Exchange rose 0.8% to $9,897.50 per metric ton by 10:11 GMT, after hitting $9,917 – its highest level since July 25.

The US dollar was set to post a 2% monthly decline in August. A weaker dollar makes dollar-priced metals more attractive to buyers using other currencies, while lower interest rates improve investor sentiment toward industrial metals that depend on economic growth for demand.

In China, the world’s largest consumer of metals, stocks closed higher on Friday, marking their strongest monthly performance since September 2024, with abundant liquidity continuing to fuel gains.

Shanghai Futures Exchange copper inventories fell 2.4% this week, while the Yangshan copper premium – reflecting demand for imported copper into China – held steady at $55 per ton, its highest level since June 5.

Still, factory activity in China likely contracted for a fifth straight month in August, according to a Reuters survey, as manufacturers await more clarity on a trade deal with the US, while weak labor markets and the property crisis weigh on domestic demand.

Goldman Sachs maintained its year-end forecast for copper on the LME at $9,700 per ton.

The bank said in a note: “While LME inventories remain relatively low, we do not see imminent risks of a global copper shortage.”

According to the International Copper Study Group (ICSG), the global refined copper market posted a surplus of 251,000 tons in the first half of 2025, compared with a surplus of 395,000 tons in the same period last year.

Other LME Metals Performance

Aluminum rose 0.3% to $2,613 per ton.

Zinc gained 1.1% to $2,812.

Lead added 0.2% to $1,987.50.

Tin advanced 1.0% to $35,140.

Nickel rose 0.7% to $15,365.

Bitcoin slipped toward $111,000 in volatile trading on Friday as investors awaited key US inflation data, while weighing growing expectations that the Federal Reserve will cut interest rates next month, amid ongoing concerns about the central bank’s independence.

As of 01:57 Eastern Time (05:57 GMT), the world’s largest cryptocurrency was down 1.5% at $111,229.6. Earlier this week, Bitcoin had dropped to a seven-week low below $109,000 before rebounding slightly.

Even so, the token has lost more than 10% since its record high in August above $124,000, and it is on track to post its first monthly decline since April. Bitcoin is set to fall about 4% in August after four consecutive months of gains.

US inflation data in focus as rate-cut hopes rise

Traders are focused on the Personal Consumption Expenditures (PCE) price index – the Fed’s preferred gauge of inflation – due later on Friday. A softer reading could support prospects for monetary easing, while stronger figures may reduce bets on a rate cut.

Markets are currently pricing in an 85% chance that the Fed will cut rates by a quarter point in September, with additional easing expected by year-end. Risk assets such as cryptocurrencies typically benefit from lower rate expectations, but President Donald Trump’s attempt this week to dismiss Fed Governor Lisa Cook has dampened risk appetite.

Cook has refused to resign and filed a lawsuit challenging the decision, warning that her removal would undermine the Fed’s independence. The rare confrontation has unsettled investors concerned about political interference in monetary policy.

Trump-backed Bitcoin miner eyes Nasdaq listing

American Bitcoin – a mining firm backed by Eric Trump and Donald Trump Jr. – is preparing to begin trading on Nasdaq in early September 2025 via a reverse merger with Gryphon Digital Mining, according to a Reuters report. The report added that the Trump brothers and major investor Hut 8 collectively control about 98% of the company’s shares.