NuScale Power Rockets to 10th in WSB Rankings Amid Nuclear Energy Surge
In the latest WSB rankings, NuScale Power has surged to the 10th position, a remarkable climb of 33 places from the previous day.
NuScale Power's shares skyrocketed by over 40%, reaching a historic intraday high. This surge is part of a broader uptick in the nuclear energy sector, driven by innovative developments in small modular reactor (SMR) technology. NuScale's advancements align with a growing interest in cleaner energy from tech giants like Amazon, which recently signed agreements to explore SMR development to power its AWS data centers.
The U.S. Department of Energy has launched an advanced reactor demonstration program, with NuScale anticipating completion of America's first SMR around 2030. This development resonates with global trends, as tech companies increasingly seek sustainable energy solutions to meet rising data center demands. NuScale's stock has reflected this momentum, recording a fivefold increase in 2023 alone.
Meanwhile, other nuclear-related stocks also saw notable gains. Oklo Inc. rose significantly, backed by support from influential figures like OpenAI's CEO Sam Altman. As various nuclear startups push forward, they offer potential solutions to the energy demands posed by artificial intelligence, utilizing technologies like liquid metal reactors.
The broader nuclear sector received a boost with companies like Centrus Energy Corp and Cameco Corp seeing substantial rises. ETFs focused on uranium and nuclear energy also reported gains, underscoring the robust investor interest in nuclear technology amidst the clean energy transition.
Amidst global pushes for clean energy, nuclear power's reliability compared to solar and wind makes it an attractive option for tech companies seeking long-term energy solutions. With growing investments and collaborations, the sector's trajectory appears positive, particularly as it addresses AI's energy challenges.