Nuclear stocks are soaring as power demand multiplies, driven by data centers, AI and large-scale electrification projects.
Nuclear energy is projected to be a $10 trillion market opportunity and could serve as “the solution to global power shortages,” according to a recent Bank of America report.
OKLO stock is up 90% this month. See the price action here.
Growing Momentum For Nuclear
Bank of America said nuclear power has been “rediscovered” as skyrocketing electricity needs merge with improving public perception and strong government backing of the industry.
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The firm estimates that worldwide nuclear capacity must triple by 2050, which will require more than $3 trillion in investment over the next 25 years.
“Nuclear power is a proven technology that can provide reliable, cheap, clean, and safe power as a bridge to renewable sources if/when they become ready at a larger scale,” BofA analysts wrote.
Small Modular Reactors (SMRs)
BofA pointed directly to small modular reactors, or SMRs, as “one of the most consequential energy technologies for the next 25 years.”
SMRs, which are compact reactors generally producing up to 500 megawatts, are cheaper and quicker to build than large traditional plants.
NuScale Power Corp. SMR, the only U.S. company with an NRC-approved design, expects to deliver reactors by 2030. Its stock has surged 100% this year.
Oklo Inc. OKLO, supported by OpenAI’s Sam Altman, announced plans to provide energy by 2027. Oklo stock has gained 350% this year.
Nano Nuclear Energy, Inc. NNE, another SMR company, climbed 70% year-to-date.
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Supply Chain and Fuel
Current nuclear reactors rely on low-enriched uranium (LEU) or high-assay, low-enriched uranium (HALEU).
Russia has historically dominated uranium enrichment, but U.S. efforts are underway to rebuild domestic enrichment capacity after restrictions on Russian imports.
Centrus Energy Corp. LEU is the only licensed producer of HALEU in the U.S., making it vital for SMR deployment. Centrus shares are up more than 265% this year.
Mining and ETF Gains
Mining companies such as Uranium Energy Corp. UEC, Ur-Energy Inc. URG and Energy Fuels Inc. UUUU have posted substantial gains, rising 80%, 30%, and 170% year-to-date, respectively.
The Global X Uranium ETF URA, tracking uranium-focused firms, is up over 80% in 2025.
Big Picture Outlook
Analysts see the nuclear energy industry growing as power demand continues to rise.
“There is no dearth of demand for these reactors, given the energy needs in the United States driven by data centers and AI,” Citi analyst Vikram Bagri told Yahoo Finance.
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