Shares of nuclear energy businesses skyrocketed as recent power-supply deals negotiated by big American internet titans support their evolving AI activities. These offers are generating interest in the first small modular reactors (SMRs) being developed in the United States. Consequently, these developments led to superb rise in nuclear energy stocks with almost 29% increase in, NuScale Power (NU, Financials), underscoring the growing demand for sophisticated nuclear energy solutions.
Another major nuclear winner, Constellation Energy (CEG, Financials), has had their shares more than double this year. The corporation runs the biggest fleet of conventional reactors in the United States and lately signed a historic 20-year energy contract with Microsoft. The agreement calls for Constellation to reopen the reactor at its Three Mile Island plant in Pennsylvania, the site of the 1979 partial meltdown, marking a major shift in the plant's history.
Apart from these developments in the private sector, the U.S. government is advocating nuclear power growth. Chief climate adviser for President Joe Biden said earlier this month that the government is trying to recommission nuclear plants to satisfy the growing need for emissions-free energy. These advancements highlight how imperative nuclear energy has become in the American clean energy shift.
