TLDR
- Nuclear power gaining mainstream adoption as Amazon, Meta, and Alphabet embrace it for data centers and AI infrastructure
- VanEck Uranium & Nuclear ETF surged 48% year-to-date with technical signals pointing to further gains toward $155
- NuScale Power holds the only U.S. regulatory approvals for small modular reactors and is generating revenue from Romanian projects
- Oklo develops smaller microreactors but won’t generate revenue until 2027-2028 despite an $11 billion market cap
- Nuclear stocks like Constellation Energy, BWX Technologies, and Public Service Enterprise Group showing strong momentum
Nuclear power is experiencing a resurgence as major technology companies turn to clean energy sources to power their data centers and artificial intelligence operations. Companies like Amazon, Meta Platforms, and Alphabet are embracing nuclear energy to meet their growing power demands.
The shift toward nuclear power is creating opportunities for investors in the sector. The VanEck Uranium & Nuclear ETF has already gained 48% this year and recently broke above a bull flag pattern at $110, suggesting potential movement toward $155 in the coming months.
Constellation Energy leads the VanEck fund with a 7.5% weighting. The company operates nuclear facilities and stands to benefit from the increased demand for clean energy solutions.
BWX Technologies, an American nuclear technology and defense company, reached record highs and climbed 32% in 2025. The stock broke out of a bull flag pattern and appears positioned to target the $185 level by year-end.
Small Modular Reactors Lead Innovation
NuScale Power represents one of the most advanced players in next-generation nuclear technology. The company develops small modular reactors that generate up to 77 megawatts of electricity each and can be connected in flexible configurations.
NuScale holds the only Standard Design Approvals from the U.S. Nuclear Regulatory Commission for its SMRs. The NRC approved its 50 MWe design in January 2023 and its 77 MWe design in May 2025.
The company’s VOYGR-6 configuration connects six modules to generate 462 MWe, while its VOYGR-12 system connects 12 modules for 924 MWe output. These designs take up just 1% of the space of traditional nuclear reactors while generating equivalent power.
NuScale generates most of its current revenue in Romania, serving as a subcontractor for Fluor’s planned 462 MWe plant construction. The project remains in the engineering and design phase with a final investment decision expected in 2026.
The company’s 2024 revenue rose 62% to $37 million, though its net loss more than doubled to $137 million. Analysts expect 2025 revenue to increase 34% to $50 million while narrowing losses to $69 million.
Microreactor Technology Shows Promise
Oklo takes a different approach with its Aurora microreactor, which generates 1.5 MWe of power. These units can be chained together for deployments generating 15 to 100 MWe, making them suitable for remote and off-grid applications.
The company’s microreactors use metallic uranium fuel pellets that are denser, more heat-resistant, and cheaper to produce than standard uranium dioxide pellets. The fabricated metallic pellets can be reprocessed and recycled in a closed loop operating for about a decade without refueling.
Oklo won’t generate revenue until it deploys its first reactors in Idaho in late 2027 or early 2028. The company is expected to post losses of $66 million in 2025 and $78 million in 2026.
Despite having no current revenue, Oklo carries an $11 billion market valuation. This premium reflects investor interest in the company’s technology and connection to OpenAI CEO Sam Altman, who previously led Oklo and remains a major investor.
Public Service Enterprise Group offers a more defensive nuclear investment option. The utility operates three nuclear plants in New Jersey and provides a dividend yield of almost 3%. The stock is forming a cup base pattern with targets at $95 and potential to reach $115 by mid-2026.
Oklo stock surged more than 250% in 2025 and recently broke above a cup base at $70, suggesting movement toward the $90 level.
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