NuScale Power Corporation

Сильный индекс, значительно вырос. Быки резко укрепили уверенность в своих позициях.

Strong index, significantly up. Bulls sharply strengthened confidence in their positions.

Слабый индекс, значительно вырос. Рынок на стороне быков.

Weak index, significantly up. The market is on the bulls' side.

Сильный индекс, незначительно упал. Отток средств из лонгов на высоком уровне.

Strong index, slightly down. Outflow of funds from longs at a high level.

Key Points
AI companies are hungry for more power.
Nuclear energy is quickly emerging as a powerful solution.
The AI industry continues to grow rapidly. Future growth, however, isn't guaranteed. That's not because the world won't need more artificial intelligence. Rather, scaling AI compute power will quickly encounter other growth constraints.
Number one is access to capital. So far, this hasn't been much of an issue. Markets have been keen to provide AI companies with plenty of fresh cash. That's good news considering AI technologies rely on data centers, which are capital-intensive. If capital grows scarce, industry growth rates will quickly come under pressure.
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Scaling data center infrastructure, however, comes with its own growth constraints.
"Capital is pouring into data center development, but there are real constraints on growth," warns McKinsey & Co. "The race to scale AI has triggered one of the largest infrastructure build-outs in modern history. By our estimates, global spending on data centers could reach $7 trillion by 2030. Whether a build-out is successful depends on many nuances, including the availability of capital and energy resources."
These are the two major challenges the AI industry will have to continually overcome to grow: access to capital and access to energy.
Because energy is so critical to powering data centers -- which, in turn, are critical for enabling artificial intelligence itself -- major AI companies are making big moves to ensure they have enough energy long term. That includes negotiating directly with energy system manufacturers and utility operators.
This week, Amazon (NASDAQ:AMZN) announced a 20-year deal with Constellation (NASDAQ:CEG) for access to nuclear power. The agreement will direct $3 billion in investment to expand one of Constellation's existing nuclear facilities. Notably, the energy production will be delivered to the grid as usual. So Amazon's partnership will add to the region's overall energy generation capacity rather than exclusively reserving the new power production for itself.
Amazon's strategy makes a lot of sense. Investing directly in nuclear power by expanding existing facilities is cost effective. And, more power production regionally helps the company minimize price increases as a result of its rising energy needs.
Constellation, of course, will be a direct benefactor. But there's one other nuclear stock that this deal should indirectly help.
I like this nuclear stock even more after Amazon's announcement
What Amazon helped prove today is that AI companies are willing to go through traditional grid operators to scale regional power production. That's good news for NuScale Power (NYSE:SMR), which aims to build small modular nuclear reactors for utility companies.
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For comparison, Oklo Inc. (NYSE:OKLO) is also pursuing small modular reactors. Instead of marketing its systems to utilities, however, Oklo has opted to sell directly to AI companies. In return, it has generated an impressive customer pipeline of data center operators. Though, most of its deals are non-binding, and none of its SMR deals have yet reached commercial production.
NuScale, on the other hand, has closed two sizable deals with utility operators. The first is a relatively small system in Romania. The other -- a 6-gigawatt system in the eastern U.S. -- would be the biggest SMR facility in the world if it ever gets built.
To be clear, Amazon's deal with Constellation has no direct link to NuScale. What's encouraging, however, is another proof point that AI companies aren't necessarily looking to disintermediate utility companies. Instead, they're willing to help finance additional nuclear production to meet their needs through increased regional energy generation. That's great news for NuScale's go-to-market strategy.
Should you buy stock in NuScale Power right now?
Before you buy stock in NuScale Power, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NuScale Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Constellation Energy. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.

Amazon Signs 20 Year Nuclear Power Deal. That's Great News for This Nuclear Stock

Key Points
Technological advances enable nuclear power to be used in ways that weren’t possible when it first became a major source of electricity.
This revolution is particularly slow-moving, but it will also last a particularly long time.
Some of the rekindled industry’s best opportunities may not be obvious or currently highlighted.
Most investors are likely aware that nuclear energy -- once expected to be displaced by renewables -- is making a comeback. A recent outlook from the World Nuclear Association suggests that the industry's power production is expected to triple between now and 2050. This awareness is why some of these investors may even hold stakes in enriched uranium fuel providers like Cameco (NYSE: CCJ) or Centrus Energy (NYSE: LEU), or own nuclear reactor developers such as NuScale Power (NYSE: SMR) or Oklo (NYSE: OKLO). Or perhaps they take a broader industry approach by holding the VanEck Uranium and Nuclear ETF (NYSEMKT: NLR).
However they play it, there are three facts that smart investors should know about nuclear power's resurgence.
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1. Much of it will be privately owned, geographically localized, and small in scale
Certainly, a number of the nuclear power plants planned for construction over the next few years will look much like those already built by public utility companies that serve millions of customers. A sizable swath of future reactors, however, will also look considerably different than the ones currently up and running.
They're called small modular reactors, or SMRs, for short. As the name implies, these power plants are largely fabricated off-site in pieces by companies such as the aforementioned NuScale or Oklo, and then assembled/installed on a relatively small footprint of only a few acres.
And that's what makes them so compelling to individual companies that might want to take power production into their own hands, but don't need a full-sized traditional nuclear power facility. NuScale's modular reactor design, for instance, can generate up to 77 megawatts per module. That's enough to power a desalination plant, a smelting facility, an artificial intelligence (AI) data center, or a factory.
Small modular reactors will probably never account for the lion's share of the world's total nuclear power production, to be clear. The International Atomic Energy Agency (IAEA) estimates that only about one-fourth of new nuclear power production capacity established between now and 2060 will come from SMRs.
Still, numbers from the World Nuclear Association indicate there are already more than 70 small modular reactors currently planned for construction, if not already underway, versus essentially none commercialized right now. In this same vein, the International Energy Agency, or IEA, expects worldwide SMR power production capacity to swell from less than 1 gigawatt by 2030 to on the order of 100 gigawatts by 2050.
2. It's going to take a while to start paying off
Small modular reactors aren't the only opportunity here. The world's still building utility-scale nuclear power plants as well. The IEA adds that over 60 nuclear reactors are currently under construction, bringing the global total to more than 400 nuclear power facilities already in operation.
Like all the SMRs currently being planned, however, it will be years before most of them generate any tangible revenue. Not only does it take years to build something as complex as a nuclear power facility, but it can also take years just to obtain the necessary permits. The IEA's expectation for nearly 900 gigawatts of nuclear power by 2050? The growth won't even start materializing in earnest until 2030, from roughly half that figure.
And while the buzz surrounding small modular reactors is plenty bullish, the BWRX-300 SMRs made by GE Vernova's (NYSE: GEV) joint venture with Hitachi, currently being installed in Ontario, Canada, for Ontario Power Generation, will be North America's first grid-connected SMRs. But this facility won't become operational until 2030 (and that assumes everything proceeds according to plan).
Investing in nuclear power's revival will require incredible patience. That's not a bad thing, though. It means you'll have time to do plenty of research and hold out for pullbacks.
3. The best investment opportunities may be ancillary
Last but not least, enriched uranium suppliers like Cameco and Centrus, and nuclear reactor makers like GE Vernova, Oklo, or Cameco's Westinghouse are the revitalized industry's obvious winners. But they may not be investors' best opportunities from here. They're already fully priced with respect to their risk and reward, specifically because they're obvious.
The best investment opportunities stemming from nuclear power's resurgence may, rather, be in companies that don't so obviously benefit from the renewed movement.
Clearly, GE Vernova is one of these names, but hardly the only one. Construction companies like Fluor Corp. (NYSE: FLR) and Jacobs Solutions (NYSE: J) are well-positioned for growth too, leveraging their extensive experience with such complex projects.
Then there's Amentum Holdings (NYSE: AMTM), which doesn't build nuclear reactor power plants or supply fuel for them. Instead, Amentum helps the nuclear power industry manage its spent fuel and other waste, and monitor for dangerous radiation levels. That's not all it does. But if nuclear power production is going to triple between now and 2050, the need for the proper disposal of nuclear waste is going to triple as well.
That's just a small sampling of all the unnamed and overlooked stocks that could thrive thanks to the rekindled growth of the nuclear power industry, of course.
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James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amentum, Cameco, and GE Vernova. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
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3 Things Smart Investors Know About the Nuclear Power Comeback

Key Points
NuScale won’t deploy its first SMRs until the early 2030s.
Oklo aims to deploy its first microreactors by late 2027 or early 2028.
NuScale (NYSE: SMR) and Oklo (NYSE: OKLO) are both developing next-gen nuclear reactors. NuScale is creating small modular reactors (SMRs), while Oklo is developing even smaller microreactors. Both types of reactors produce less power than their conventional counterparts, but they can be deployed in remote and off-grid areas.
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Which stock is a better buy?
Shares of NuScale and Oklo have declined about 80% and 70%, respectively, over the past two months. While their technology sounds promising, neither company has deployed a single commercial reactor yet. But if I had to choose one over the other, I'd pick Oklo.
Oklo plans to deploy its first Aurora Powerhouse microreactors in 2027 or 2028. NuScale doesn't expect its first commercial reactors to come online until the early 2030s.
Oklo recycles its uranium pellets in a closed loop, so its microreactors are only refueled every 10 years. NuScale's SMRs must be refueled every 21 months. Oklo also intends to directly manage its own plants. NuScale only plans to sell its SMRs to larger power plants.
Both stocks will remain under pressure in this challenging macro environment. But over the next few years, I expect Oklo to outperform NuScale because it has clearer near-term catalysts and more ambitious plans to capitalize on the resurgent nuclear energy market.
Should you buy stock in NuScale Power right now?
Before you buy stock in NuScale Power, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NuScale Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $373,352!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,406,241!*
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Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

NuScale vs. Oklo: Which Nuclear Stock is the Better Buy Now?

Key Points
Nuclear energy remains a promising long-term growth story.
Companies developing small modular reactors in particular will need one key catalyst to materialize.
2026 has been a rough year for many nuclear energy stocks, but it has been particularly painful for companies specializing in small modular reactors (SMRs).
NuScale Power (NYSE: SMR), for example, has seen its share price decline by 48% this year. Oklo (NYSE: OKLO), another SMR developer, has lost 51% of its value since the start of 2026.
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You might understandably find it strange that nuclear stocks are falling even as demand for the energy supplies they promise to offer continues to rise. A Bank of America Institute report predicts that nuclear energy will be a $10 trillion opportunity over the next two-and-a-half decades as AI companies desperately search for new power sources for their massive and electricity-hungry data centers.
"Amid surging electricity demand, driven in part by the rise in AI/data centers, nuclear energy offers a potential solution," the report observes. "Compared with other energy sources, it offers reliable baseload power, a smaller carbon footprint, and a higher energy return on investment."
Bank of America researchers are particularly excited about small modular reactors, which can -- at least in principle -- be built faster and with lower upfront costs than traditional nuclear plants, making them a better fit for meeting the AI industry's near-term demand for more power.
"[N]ew advancements in technology may now make the tipping point in sight for small modular reactors to reshape nuclear energy supply chains over the next decade," the bank claims. "[I]n the context of energy demand, advancements in technology like SMRs could likely reshape nuclear power supply chains over the next decade, given the major benefits over conventional power plants."
Why, then, have the stock prices of NuScale and Oklo essentially been cut in half this year? Because the small modular reactor industry is still waiting for one key catalyst to arrive. After this catalyst hits, you can expect the market to rerate SMR stocks sharply higher.
This catalyst will reshape the nuclear and SMR industries
The SMR industry looks promising on paper. But it's important to remember that only two such systems have ever been successfully deployed -- one in China, the other in Russia. Both of those systems are relatively small. More than 80 SMR projects are currently in some stage of development. But it's not clear how many of those will ever be built. A large portion of them still lack clear funding sources.
This is what the market is largely worried about right now: that the hype about small modular reactors will never translate into their large-scale, real-world adoption. We've already seen major project cancellations in previous hype cycles.
In 2023, for example, NuScale's largest deal was terminated by the project's customers.
"Although there were problems specific to the Utah Associated Municipal Power Systems project, the financial challenges and cost trends witnessed in that case will afflict any SMR project," warned one industry analyst at the time. "This was a death foretold; the red flags have been obvious for years now. Although there were problems specific to that project, the financial challenges and cost trends witnessed in this case will afflict any small modular nuclear reactor project. In a rational world, no utility or government would invest another dime on these theoretical reactor concepts. "
Right now, NuScale lacks firm financial commitments from the customers that make up its business backlog. While some of Oklo's customers have pledged fractions of capital, most of its deals remain non-binding.
Will non-binding deals translate into real-world adoption? This is the catalyst the SMR industry is still waiting for.
The good news is that such a catalyst could soon be on the way. NuScale's CFO said the company is hoping to close a power purchase agreement (PPA) deal soon with its largest customer, the Tennessee Valley Authority, potentially by the end of 2026. A PPA would essentially commit the customer to paying for the project's power production, clearing the way for construction to begin. If built, the planned 6-gigawatt facility would be the largest SMR deployment in the world by far.
NuScale has let down investors before. So a signed PPA this year is far from a guarantee. But this is exactly what the market is looking to see: Can Oklo or NuScale get the customers in its pipeline to commit financially long term and at scale? Confirmation that they can is the catalyst the market is waiting for.
Should you buy stock in NuScale Power right now?
Before you buy stock in NuScale Power, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NuScale Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $383,680!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,382,954!*
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Bank of America is an advertising partner of Motley Fool Money. Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.

2 Nuclear Stocks Crashed by About 50% in 2026. Here's the 1 Thing That Would Bring Them Back.

Key Points
Nuclear power offers baseload power from a clean energy source.
Electricity demand is rapidly increasing.
Investor sentiment has shifted, but nuclear still doesn't look cheap, and new technology is still largely untested.
NextEra Energy (NYSE: NEE) recently agreed to buy Dominion Energy (NYSE: D), at least partly to gain access to fast-growing data center demand. The deal will also give the combined company material scale in the U.S. nuclear power sector. NextEra is leaning into what it sees as key long-term trends, with demand for electricity in the United States expected to increase by 60% between 2025 and 2045.​​
If you are an investor, nuclear power presents a huge opportunity. But all opportunities come with risk, as highlighted by the pullback in the nuclear power sector in 2026. Here are two green flags to consider and two red flags to contemplate before you jump into the nuclear power sector.
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2 green flags
Electricity demand is the primary reason for favoring nuclear power stocks as investments. As noted above, electricity demand in the United States is expected to rise 60% between 2025 and 2045. The key to understanding that figure, however, is that demand rose by only 10% in the previous 20-year period. This is a step change in demand, and renewable energy sources like solar and wind simply won't be able to meet it all because they are intermittent. Nuclear is always on baseload power.
A significant portion of the expected demand is coming from new technologies, such as electric cars and artificial intelligence. There are early signs of demand for nuclear power, as companies like Constellation Energy (NASDAQ: CEG) ink deals with AI companies to reopen shuttered nuclear power plants or keep ones slated for closure open. That said, there are currently 438 operable reactors in the world, with 417 actually operating, according to nuclear fuel supplier Cameco (NYSE: CCJ).
So there are only a limited number of opportunities for growth within the existing nuclear power fleet. The big opportunity, and the second green flag, is new construction. There are currently 77 reactors under construction, most of which are in Asia. But companies like Oklo (NYSE: OKLO) and NuScale Power (NYSE: SMR) are looking to push nuclear technology to new levels, with small modular nuclear reactors (SMRs). And government support for SMRs and nuclear power, more broadly, could help initiate a new building boom.
2 red flags
As with any new technology, however, investors need to watch the cash. For example, Oklo and NuScale are both money-losing start-ups. The idea of SMRs is exciting, but much more work remains before they become a significant factor in the industry. And while these two stocks rose dramatically on news that the U.S. government was providing funding to nuclear start-ups, they each fell back to earth when it became clear that neither company was on the verge of profitability.
That's really two red flags in one example, since new technology and funding are both issues that need monitoring. However, funding isn't just an issue for start-ups. Building a large-scale nuclear power plant is an expensive endeavor (it is also time-consuming and difficult, but put that aside for now). So money is a very big problem for any company that wants to build out its nuclear power fleet. This is part of the reason why NextEra is buying Dominion. The combined company will not only be number two in U.S. nuclear but also the largest publicly traded utility in the United States and the world. That is likely to provide it with advantaged access to capital markets.
That said, investors are always making trade-offs between risk and reward. And something that investors need to watch carefully, making it red flag number two, is valuations. Money-losing start-ups are notoriously difficult to value, but Constellation Energy, even after a sell-off, has a price-to-earnings ratio of 25x. The average utility's P/E is roughly 19x. Nuclear fuel supplier Cameco has a P/E of 157x, but it operates a commodity-driven business, which can lead to outlandish valuation figures at times. NextEra's P/E, notably, is roughly 17x, making it look relatively cheap, but it is far from a pure-play in the nuclear power space.
Even a good business can be a bad investment if you pay too much for it. And mercurial investors have proven that moods can swing quickly in the nuclear power sector. You need to tread with caution and make sure you are comfortable with what you are paying to own a nuclear power stock.
Huge opportunities and huge risks
Nuclear power has a lot going for it, but there are always risks that you have to consider when buying a stock. Right now, growing electricity demand and nuclear power plant construction are two green flags to watch. But red flags like funding for hugely expensive reactors and new technology development, as well as sector valuations, need to be watched as well, as they may temper your enthusiasm for a particular stock.
Should you buy stock in Oklo right now?
Before you buy stock in Oklo, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Oklo wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $386,781!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,379,943!*
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Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco, Constellation Energy, and NextEra Energy. The Motley Fool recommends Dominion Energy and NuScale Power. The Motley Fool has a disclosure policy.

2 Green Flags and 2 Red Flags for Nuclear Stocks After This Year's Sell-Off

Key Points
Cameco’s uranium mining business is booming.
Constellation’s nuclear fleet is firing on all cylinders.
Vistra is a balanced play on nuclear energy, natural gas, and other power sources.
The nuclear energy market stalled out for about a decade after the 2011 Fukushima disaster. Many countries paused their nuclear expansion plans, and uranium prices plummeted.
But over the past few years, the nuclear market warmed up again. New decarbonization initiatives, safer nuclear technologies, and the soaring energy demands of the cloud infrastructure and artificial intelligence (AI) markets fueled that recovery. The International Atomic Energy Agency (IAEA) now expects the world's nuclear capacity to triple by 2060.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The nuclear market's AI-fueled resurgence is generating a lot of buzz for developers of smaller, next-gen reactors like NuScale and Oklo. However, those companies haven't even deployed their first commercial reactors yet. So today, let's focus on three reliable, lower-risk nuclear stocks that powered the electrical grid long before the recent AI boom: Cameco (NYSE: CCJ), Constellation Energy (NASDAQ: CEG), and Vistra (NYSE: VST).
Cameco, based in Canada, is the world's second-largest uranium miner after Kazakhstan's Kazatomprom. In 2025, it mined 15% of the world's uranium from its mines in Canada, the U.S., and Kazakhstan.
Back in 2023, Cameco partnered with Brookfield Asset Management to acquire Westinghouse Electric, one of the world's largest nuclear technology companies. That acquisition diversified its business and reduced its direct exposure to volatile uranium prices.
Cameco, like most other uranium miners, suffered a severe slowdown after the Fukushima disaster. To stay solvent, it temporarily shut down its largest mines and mills.
But from the end of 2020 to the end of this August, the spot price of uranium surged from $35.00 to $89.68 per pound. As uranium prices soared, Cameco reopened its mines to ramp up production, but global demand continues to outstrip supply.
That's why analysts expect Cameco's revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at CAGRs of 8% and 15%, respectively, from 2025 to 2028. It still looks reasonably valued at 21 times next year's adjusted EBITDA, and it should remain a linchpin of the nuclear market for the foreseeable future.
Constellation Energy
Constellation Energy is one of the top independent power producers in the United States, with a total capacity of 55 GW across its nuclear, natural gas, oil, geothermal, hydro, wind, and solar plants. It owns the largest fleet of nuclear plants in the U.S. with a combined capacity of 22 GW.
Constellation's nuclear power plants already serve 80% of the Fortune 100, including the top hyperscalers, and drive most of its earnings growth. It directly benefits from the Zero-Emission Nuclear Production Tax Credit (PTC), which subsidizes nuclear power plants when energy prices are lower and boosts their profits when energy prices are higher.
Constellation has plenty of irons in the fire. It's secured a 20-year power purchasing agreement (PPA) with Microsoft to restart Unit 1 at Three Mile Island (rebranded as Crane Clean Energy Center), it's scaling its PPAs with Meta and Walmart, it's upgrading the capacity of its existing plants, and it's integrating Calpine, the natural gas and geothermal energy giant it acquired for $26.6 billion this January.
From 2025 to 2028, analysts expect its revenue and adjusted EBITDA to grow at CAGRs of 15% and 38%, respectively. Yet it trades at just 12 times next year's adjusted EBITDA.
Vistra
Vistra is another leading independent power producer in the U.S., with a total capacity of 44 GW across its natural gas, nuclear, coal, solar, and battery energy storage facilities. It sells electricity through TXU Energy, Dynegy, Homefield Energy, Ambit, and its other regional subsidiaries. Natural gas accounts for most of that capacity, but its nuclear business is booming.
In 2024, Vistra acquired Energy Harbor to significantly expand its nuclear generation business. It's also upgrading its existing nuclear plants to generate more energy. Only 15% of Vistra's capacity comes from its nuclear plants today, but that percentage should continue to rise.
Vistra suffered a few setbacks over the past two years, including the permanent closure of its Moss Landing battery storage facilities (after a series of fires) and new caps on electricity capacity prices in the Mid-Atlantic and the Midwest. But it's weathered plenty of regulatory challenges and plant closures in the past, and it's still locked into the booming AI market through its PPAs with Meta and Amazon.
From 2025 to 2028, analysts expect Vistra's revenue and adjusted EBITDA to grow at CAGRs of 13% and 15%, respectively. It trades at just eight times next year's adjusted EBITDA, making it an undervalued way to profit from the insatiable demand for more electricity.
Should you buy stock in Cameco right now?
Before you buy stock in Cameco, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Cameco wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $386,781!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,379,943!*
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3 Nuclear Stocks Powering the Grid Long Before AI Made Them Trendy

Key Points
NuScale Power's stock has been something of a roller coaster, rising and falling with investor sentiment in the nuclear power sector.
With the stock well below $10, investors could get in early on an attractive nuclear technology development.
Over the past three years, shares of NuScale Power (NYSE: SMR) have risen as high as $52 and been as low as $2. As of this writing, they are trading around $8.75, well below $10. That's a lot of price volatility in a very short period of time. With the stock so far off its highs, however, is now a good time to buy it? It depends.
What does NuScale Power do?
NuScale Power is an upstart in the nuclear power industry. It is attempting to build a business around small modular nuclear reactors (SMRs). The plan is to build SMRs in a factory setting, allowing the company to benefit from an assembly line approach to keep costs low, speed up production, and ensure consistent product quality. Once built, the relatively small reactors could be transported to where they are needed, including stringing reactors together to create a larger power plant. In theory, this is an attractive idea.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The problem is that NuScale Power has yet to build and sell its first commercial reactor. It has an approved reactor plan, but no firm SMR sales. RoPower, a Romanian power company, has approved a plan to use six NuScale SMRs in a reactor it hopes to build, but it still needs to secure funding for the project. And NuScale is working with ENTRA1 Energy and the Tennessee Valley Authority about potentially using NuScale SMRs, but there's no sale on the horizon just yet. NuScale is building out its manufacturing capabilities to hit the ground running, but it can't do much until it has inked its first sale.
Investor sentiment and newsflow have been the main drivers of the stock's rollercoaster-like price swings. NuScale's stock rallied strongly when investors were hot on nuclear power, but it has fallen back down to earth as that enthusiasm has cooled. The lack of a firm sale, meanwhile, has left the shares languishing and drifting lower. That said, Wall Street's interest in the stock is likely to be renewed when NuScale announces it has its first customer.
Don't get too excited, NuScale still has a lot of work ahead of it
Investors need to understand the risks they are taking when they buy NuScale Power. It is a money-losing start-up in a capital-intensive industry that faces strict government regulation. And a signed contract is really just the starting point, since NuScale then needs to build and deliver the reactors, proving its manufacturing capabilities and the reliability of its product.
It is hard to describe NuScale as either a bargain or a value here. Only the most aggressive investors should probably even consider owning NuScale. Buying this stock is, at its core, a high-risk bet on a company with a very limited track record.
Should you buy stock in NuScale Power right now?
Before you buy stock in NuScale Power, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and NuScale Power wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
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NuScale Power Trades Below $10. Bargain or Value Trap?

Key Points
Governments and financial institutions are backing nuclear power, unlocking capital for new projects.
Tech giants are securing nuclear energy to meet the growing demand for AI data centers.
Small modular reactors could unlock nuclear power's long-term potential.
After falling out of favor in the 2010s, nuclear power is enjoying a resurgence. Countries worldwide are recommitting to nuclear energy, and more technology companies see it as a way to power their growing data center footprints.
The nuclear industry is ready to benefit from massive tailwinds over the next several decades. Here are three things smart investors know about the nuclear power comeback.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
1. The push for nuclear power is global
Countries worldwide are committing to nuclear energy, a trend that has been building over the last few years. In December 2023, at COP28, over 20 countries, including the United States, France, Japan, the United Kingdom, and the UAE, signed a declaration to triple their nuclear energy capacity by 2050.
Russia's invasion of Ukraine in 2022 severely disrupted Europe's natural gas supplies, resulting in price spikes and creating energy insecurity for the region. Natural gas is viewed as a bridge fuel between coal and renewables, but with its cheap fuel supply cut off, nuclear power was thrust back into the spotlight.
Another reason for nuclear's resurgence is renewables' intermittency. While countries have significantly expanded wind and solar capacity, these energy sources do not produce electricity at a constant rate. Nuclear, by contrast, provides 24/7 reliable baseload energy that can ramp up or down to meet changing demand.
Committing to triple their nuclear energy capacity helps free up capital for nuclear energy projects. For too long, major international lenders like the World Bank and regional development banks have had long-standing bans or moratoriums on financing nuclear power projects.
In September 2024, 14 major financial institutions, including Bank of America, Goldman Sachs, and Citigroup, announced their support for the declaration to triple nuclear capacity. In June 2025, the World Bank Executive Board ended its multi-decade ban on financing nuclear energy projects.
2. Hyperscalers are turning to nuclear for their growing energy needs
Technology companies are increasingly turning to nuclear power. AI data centers need reliable, 24/7 baseload power to meet training and inference demands. Nuclear power provides a capacity factor of 90% or higher, meaning it can efficiently deliver reliable power around the clock.
In September 2024, Microsoft kicked things off with a 20-year power purchase agreement with Constellation Energy (NASDAQ: CEG), the largest nuclear fleet operator in the U.S. As part of this deal, Constellation agreed to restart Three Mile Island Unit 1 and rename it the Crane Clean Energy Center.
Meta Platforms has signed 20-year PPAs with both Constellation and Vistra (NYSE: VST) for nuclear power. The company is also looking at next-generation nuclear technology and has signed agreements with TerraPower and Oklo (NYSE: OKLO) for projects slated to come online in the 2030s.
3. Small modular reactors could change nuclear energy as we know it
Traditional nuclear power plants can take over a decade to build and require massive upfront capital. These long timelines and high costs can make financing such projects risky. Next-generation nuclear technology, known as small modular reactors (SMRs), could change the way nuclear power is deployed.
SMRs are largely factory-fabricated and transported to the site, which can significantly reduce costs, especially if these technologies scale. They are then constructed on-site, with construction timelines of roughly 24 to 36 months, slashing time to nuclear power. What makes SMRs appealing for hyperscalers or industrial operators is that they can be delivered on-site to help provide behind-the-meter power.
Several companies are working on SMR technology, including Oklo, NuScale Power (NYSE: SMR), TerraPower, X-Energy (NASDAQ: XE), GE Vernova (NYSE: GEV) (with Hitachi), and Westinghouse. These SMRs have differing coolant and fuel requirements, and the U.S. is taking steps to accelerate their regulatory approvals through the Department of Energy.
Right now, a couple of projects are underway in North America to develop SMRs. Ontario Power Generation's Darlington New Nuclear Project will utilize GE Hitachi BWRX-300 SMRs and aims to come online in 2029 or 2030. Meanwhile, the Tennessee Valley Authority (TVA) is looking to deploy the BWRX-300 at the Clinch River Nuclear Site near Oak Ridge and is considering projects with NuScale and Kairos Power.
With support from major financial institutions and countries worldwide, nuclear power is enjoying a resurgence that could span decades -- creating a compelling opportunity for long-term investors who invest in nuclear stocks today.
Should you buy stock in Constellation Energy right now?
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Bank of America is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Courtney Carlsen has positions in Constellation Energy, GE Vernova, Goldman Sachs Group, Meta Platforms, Microsoft, NuScale Power, Oklo, and Vistra. The Motley Fool has positions in and recommends Constellation Energy, GE Vernova, Goldman Sachs Group, Meta Platforms, Microsoft, and Vistra. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Key Points
NuScale's reactor design already has NRC certification, but its TVA and Romania deals are still unsigned.
Oklo cleared a big Department of Energy safety milestone, though it still hasn't deployed commercially.
Of the three, BWX Technologies stands out as the one already running a real, revenue-generating nuclear business today.
Nuclear power is making a comeback, with Oklo (NYSE: OKLO), NuScale Power (NYSE: SMR), and BWX Technologies (NYSE: BWXT) each offering distinct nuclear stories. But which one stands out? Here's a look at these popular nuclear stocks, ranked from worst to first.
NuScale has great technology, but is still waiting for the story to become real
NuScale Power has one of the easiest stories for investors to understand. The company has developed a small modular reactor, and its design has already received certification from the U.S. Nuclear Regulatory Commission (NRC). NuScale is also building out its supply chain and announced progress on securing components for its reactor.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
The problem is that having an approved reactor design isn't the same thing as having a commercial nuclear fleet that's already operational. That remains the biggest issue for the stock.
NuScale's most important potential project is tied to its partnership with ENTRA1 and discussions with the Tennessee Valley Authority. The opportunity is potentially enormous, but the power purchase agreement investors want to see hasn't been signed yet. Also, its Romania project is yet another potential path to deployment, but it's also still in the development phase rather than in commercial operations.
The upside could be huge, but for now, investors are still waiting to see the company turn its plans into reality. So, while NuScale is still working on its tech, another company is already taking the next step.
Oklo's commercial story is becoming more substantial
Instead of competing with the traditional large-reactor model, Oklo focuses on compact fast reactors to provide power directly to customers. That makes the company more interesting in a world where data centers are trying to secure reliable energy as quickly as possible.
The company has already made meaningful progress. For example, it received approval from the Department of Energy for the preliminary safety analysis for its Aurora powerhouse at Idaho National Laboratory, an important milestone that moves the project further into the actual safety and construction process.
Oklo is also progressing on its fuel strategy, including its Aurora Fuel Fabrication Facility, while continuing regulatory work with the NRC. The NRC's records show ongoing pre-application work around Aurora, including reviews of key design and licensing materials.
But Oklo has yet to deploy a commercially operating reactor, and its timeline still depends on construction, regulatory, and operational matters.
Oklo offers plenty of upside if Aurora takes off, but another company has a nuclear business that's already up and running.
BWX Technologies has a nuclear business that already works
BWX Technologies sets itself apart by being embedded in the nuclear industry. The company has exposure to naval nuclear propulsion, government nuclear programs, and nuclear manufacturing. These days, it's also expanding into advanced reactors and next-generation nuclear technologies.
Recent developments have only strengthened that position. The U.S. Army selected BWX's Advanced Nuclear Reactor for its Janus power program for military bases, with the first planned deployment at Fort Campbell on the Kentucky-Tennessee border. The project gives BWX another potential path into the fast-growing market for distributed nuclear power.
At the same time, BWX is expanding its manufacturing footprint. For example, the company acquired Precision Components Group, strengthening its nuclear manufacturing, while its TRISO fuel helped a reactor achieve first criticality under a Department of Energy program.
BWX also continues to win work tied to U.S. national security and government infrastructure, having been selected to develop the conceptual design for a new lithium processing facility at the Y-12 National Security Complex.
Ultimately, the biggest difference between these three stocks comes down to how much of their story has already been proven.
Ranking the three nuclear stocks from worst to first
NuScale, Oklo, and BWX offer three different ways to play the nuclear revival, but they're not created equal.
BWX Technologies is the safest and clear winner of the three, with a real nuclear business already generating revenue on top of growing exposure to advanced reactors. If the nuclear build-out continues, BWX is arguably the best positioned of the group to benefit.
For investors who prefer to wait on the sidelines until a technology proves itself, NuScale is still working to bring its reactor design to commercial projects. And that makes Oklo the higher-risk, higher-reward pick, focused on next-generation reactors that still need to be built and scaled.
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Oklo vs. NuScale vs. BWX Technologies: Ranking the 3 Popular Nuclear Stocks From Worst to First

Key Points
Oklo has a 14-gigawatt customer pipeline, but most of it consists of non-binding agreements rather than signed contracts.
NuScale has made regulatory and engineering progress, though its Romania and TVA deals remain largely uncommitted to revenue.
GE Vernova already holds $176.3 billion in contracted backlog, making it the clear leader regardless of AI infrastructure hype.
While Nvidia grabs most of the AI headlines, the physical build-out behind artificial intelligence still depends on power and infrastructure companies that rarely get the same attention. Oklo (NYSE: OKLO), NuScale Power (NYSE: SMR), and GE Vernova (NYSE: GEV) all benefit from rising nuclear demand, but their backlogs tell very different stories. Looking past the hype, how do these companies compare based on how much business they've actually locked in?
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
1. Oklo's pipeline is huge, but contracts lag behind
Oklo has probably made the most eye-catching nuclear demand announcements among pure-play small modular reactor (SMR) companies.
It has a 12-gigawatt non-binding master agreement with Switch, while its Meta agreement supports a 1.2-gigawatt Ohio campus and lets Meta prepay for power and fund project development.
But there's an important distinction between announced demand and contracted revenue. The Switch agreement is non-binding, with individual PPAs expected to be finalized as projects progress, and Oklo says it's still working to convert preliminary agreements into binding contracts.
Meanwhile, Equinix signed a Letter of Intent (LOI) to purchase up to 500 megawatts of nuclear power from Oklo over a 20-year timeline.
In total, Oklo has a customer pipeline of about 14 gigawatts, but most of it consists of non-binding agreements and LOIs that have yet to convert into binding contracts.
Oklo has the headline numbers, but another company is seeing huge progress on its technology.
2. NuScale's progress outpaces its actual backlog
NuScale has made significant progress on the regulatory and engineering fronts, highlighting the Romania project, ongoing TVA talks through its partner ENTRA1 Energy, and a supply chain of more than 60 specialized partners. NuScale frames both efforts as part of the push to meet surging AI data center power demand, positioning its reactors as future on-site power for hyperscalers.
But development progress isn't the same as backlog. The TVA program is still a non-binding agreement between TVA and ENTRA1 for up to 6 gigawatts, and ENTRA1 retains discretion over whether to select or purchase from NuScale at all, so the deal doesn't guarantee future revenue.
The Romania project is further along, with six NuScale modules planned at Doicești, but it's still working through the conditions required to advance rather than generating commercial revenue today.
Investors still need to distinguish between project development and real backlog, especially since NuScale's reactors aren't expected to be deployable until the early 2030s at the earliest, well behind the immediate power needs of AI data centers today.
3. GE Vernova's backlog is already real and massive
GE Vernova, however, is in a different league entirely for contracted business, reporting $176.3 billion in remaining performance obligations in the second quarter of 2026.
Its Gas Power business alone had an equipment backlog of 116 gigawatts and slot reservation agreements, while its Nuclear Power business continues to generate fuel, service, and equipment contracts.
But GE Vernova doesn't need nuclear to succeed commercially. Nuclear is just one piece of a much larger power infrastructure business already generating real revenue and cash flow.
Its nuclear exposure includes GE Vernova Hitachi's BWRX-300 SMR, as well as the more established business of servicing existing reactors and supplying fuel. GNF recently extended its fuel contracts with Entergy through 2035.
Which nuclear stock has the strongest backlog?
Oklo has the biggest headline pipeline among pure-play SMR companies, but NuScale's progress is mostly technical and regulatory, leaving its backlog the thinnest of the three. GE Vernova is the safest bet, since its $176.3 billion backlog is real and doesn't depend on nuclear working out. So while Nvidia's chips grab the headlines, these three infrastructure plays offer very different ways to bet on the same AI power boom.
Should you buy stock in GE Vernova right now?
Before you buy stock in GE Vernova, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and GE Vernova wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $387,158!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,365,749!*
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Rick Orford has positions in Meta Platforms. The Motley Fool has positions in and recommends Entergy, Equinix, GE Vernova, Meta Platforms, and Nvidia. The Motley Fool recommends Hitachi and NuScale Power. The Motley Fool has a disclosure policy.

Indicator	Dec 25	Mar 26	Jun 26	TTM
Net Income	—	—	—	-RUB 28.00M
Operating Income	—	—	—	-RUB 42.00M

Indicator	Dec 25	Mar 26	Jun 26	TTM
Total Assets	RUB 1.41B	RUB 1.15B	RUB 2.05B	RUB 2.05B
Cash on Hand	RUB 1.26B	RUB 895.00M	RUB 1.08B	RUB 1.08B
Total share holder equity	RUB 1.11B	RUB 1.11B	RUB 2.01B	RUB 2.01B

Indicator	Dec 25	Mar 26	Jun 26	TTM
Long Term Debt	—	—	—	RUB 24.00M
Total liabilities	RUB 299.00M	RUB 38.00M	RUB 36.00M	RUB 36.00M

NuScale Power Corporation

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