5 Nuclear Energy Stocks Poised to Benefit from the AI-Driven Power Demand Surge

The rise of artificial intelligence (AI) has ignited a global energy revolution, with data centers and supercomputers demanding vast amounts of reliable, low-carbon power. Enter nuclear energy—a carbon-free, scalable solution now experiencing a renaissance, fueled by government subsidies, tech sector partnerships, and breakthroughs in modular reactor technology. Five companies are at the forefront of this shift, offering investors exposure to uranium supply chains, advanced nuclear innovation, and long-term power purchase agreements (PPAs) with tech giants.

1. Centrus Energy (LEU): The Uranium Pioneer

Why It Matters: Centrus is the sole U.S.-based provider of uranium enrichment and a cornerstone of domestic nuclear fuel production. With a $3.7 billion backlog extending to 2040, including contracts with the Department of Energy (DOE), the company is critical to reducing reliance on Russian uranium imports. Its Phase 2 contract for high-assay low-enriched uranium (HALEU) production—key for advanced reactors—is now valued at $129 million.

Investment Case:
- Data:
- Risk/Reward: Centrus benefits directly from federal funding under the Inflation Reduction Act (IRA), but its narrow focus on uranium enrichment makes it sensitive to geopolitical shifts in the uranium market.

2. BWX Technologies (BWXT): Building the Future of Nuclear

Why It Matters: BWXT supplies nuclear components to governments and commercial partners, including SMR developers. Its $2.1 billion in naval nuclear contracts and 2025 acquisition of Kinetrics—a nuclear services firm—expanded its reach into commercial markets. BWXT's expertise in reactor design and manufacturing positions it to support the $34 billion DOE pilot program for advanced reactors.

Investment Case:
- Data:
- Risk/Reward: BWXT's government ties and diversification into SMR infrastructure make it a stable play, though its reliance on defense contracts introduces macroeconomic risks.

3. Cameco (CCJ): Dominating the Uranium Market

Why It Matters: Cameco controls 40% of global uranium reserves, including the McArthur River mine in Canada. Its 2023 acquisition of Westinghouse Electric Co.—a leader in nuclear plant design—gives it a direct link to SMR innovation. Cameco's $905 million cash reserves and DOE-backed contracts (e.g., $3.4 billion for HALEU production) cement its role as a uranium-to-reactor supply chain powerhouse.

Investment Case:
- Data:
- Risk/Reward: Cameco's scale and vertical integration are unmatched, but uranium price volatility and regulatory delays could pressure margins.

4. Fluor (FLR): SMR Leader with NuScale

Why It Matters: Fluor owns NuScale Power, the first U.S. company to secure Nuclear Regulatory Commission (NRC) certification for its 77 MW SMR design. NuScale's Carbon Free Power Project in Idaho aims to deliver 1,000 MW to PacifiCorp by 2030, and its partnerships with Microsoft and other tech firms highlight its relevance to AI infrastructure.

Investment Case:
- Data:
- Risk/Reward: NuScale's PPA-driven growth is compelling, but Fluor's broader engineering portfolio dilutes its nuclear focus, requiring careful tracking of SMR milestones.

5. GE Vernova (GEV): SMRs for the Tech Era

Why It Matters: GE Vernova's BWRX-300 SMR uses proven boiling water reactor technology, with designs tailored for data center clusters. The reactor's scalability (300 MW per unit) and safety features align with tech firms' need for reliable, low-carbon power. GE's $2.4 billion in SMR contracts through 2025 signal strong demand.

Investment Case:
- Data:
- Risk/Reward: GE Vernova's spin-off from GE's broader conglomerate structure reduces legacy liabilities, but execution risks persist in SMR deployment timelines.

Conclusion: Riding the Nuclear Renaissance

The confluence of AI's energy demands, government funding, and modular reactor innovation has created a rare investing opportunity. Centrus (LEU), BWX (BWXT), Cameco (CCJ), Fluor (FLR), and GE Vernova (GEV) are all positioned to profit from this shift. Investors should prioritize companies with:
- Uranium exposure (LEU, CCJ, BWXT).
- SMR contracts (FLR, GEV).
- Tech sector PPAs (NuScale's ties to Microsoft, GE's BWRX-300 for data centers).

While regulatory hurdles and cost overruns remain risks, the $500 billion global nuclear market is too large to ignore. For long-term investors, these stocks offer a leveraged play on the twin megatrends of AI and decarbonization.

Final Note: Before investing, consult financial advisors and analyze each company's quarterly reports for project timelines and funding updates.