Nuscale Power Corp

The U.S. House of Representatives passed the Ratepayer Protection Act by a near-unanimous margin, sending shares of nuclear reactor developers Oklo and NuScale Power sharply higher in Thursday morning trading. Oklo stock rose 13% to $40.37, while NuScale Power stock climbed 10% to $9.14, far outpacing the Global X Uranium ETF, which gained 4% to $42.92, and the SPDR S&P 500 ETF Trust, which rose 1% to $762.04. The bill would require large data centers to pay for the power generation and transmission upgrades their electricity demand creates rather than spreading those costs across other utility customers, though it still needs Senate approval before becoming law. Oklo's bull case rests on a signed pipeline that includes a 12 GW master power agreement with Switch and a 500 MW letter of intent with Equinix that included a $25 million pre-payment, but the company targets first commercial power delivery only in late 2027 to early 2028 and remains pre-revenue in its core reactor business, with shares down 44% year to date. NuScale Power, the only U.S. NRC design-certified small modular reactor technology provider, ended Q2 2026 with $1.9 billion in cash and investments, and its growth story centers on ENTRA1 Energy advancing discussions with TVA toward a definitive PPA for up to 6 GW of capacity, described as potentially the largest nuclear deployment program in U.S. history, though its stock is down 36% year to date and trades near its 50-day moving average of $9.06.

NuScale Power said it successfully fabricated specialized boron-oxide pellets, a critical component of its passive emergency cooling system, in collaboration with MilleniTEK on Sept. 1. The pellets, which automatically dissolve in reactor coolant to control core reactivity without operator intervention, are used in NuScale's 77 MWe Small Modular Reactor design and its Emergency Core Cooling System. The company said the fabrication milestone moves the pellets beyond a paper concept and one step closer to mass production and commercial deployment, and that producing the components before construction begins can shorten the supply process up front; NuScale has secured master service agreements with over 60 specialized suppliers. NuScale, the only small modular reactor developer to receive a Standard Design Approval from the Nuclear Regulatory Commission, currently has one project, the RoPower Doicești Project in Romania, where it plans to deploy up to six NuScale Power Modules with the first projected to come online in 2033. The company is also working with ENTRA1 Energy and hopes to close a deal with the Tennessee Valley Authority by year-end to explore deploying up to 6 GW, about 72, of its SMRs, though no firm commitment has been made.

As the third quarter of 2026 draws to a close, the nuclear energy industry is seeing tangible progress with retired plants restarting, small modular reactors under construction, and billions flowing into the fuel supply chain. The U.S. Department of Energy aims to add 2.5 gigawatts of nuclear capacity by 2027 and 5 gigawatts by 2029 through uprates and restarts, with Holtec's Palisades plant in Michigan and Constellation Energy's Crane Clean Energy Center in Pennsylvania leading the restart efforts, backed by $1.52 billion and $1 billion federal loans respectively. Ontario Power Generation has begun construction on the first of four GE Vernova Hitachi small modular reactors at Darlington, Canada, with the first 300-megawatt unit expected to cost about $5.5 billion and all four projected at $15 billion. Advanced reactor developers like Oklo, TerraPower, NuScale, and X-energy are moving beyond design stages, with X-energy's potential pipeline including 144 reactors representing about 11.5 gigawatts. AI is accelerating development through initiatives like Project Prometheus, and the DOE has awarded $2.7 billion in orders to expand domestic uranium enrichment, including HALEU production. While the nuclear renaissance is real, commercialization remains key, with established players like Constellation and BWX Technologies offering cash flow, while newer companies like Oklo, NuScale, and X-energy carry higher risk but greater upside.

NuScale Power has announced a new alliance with Nuclearn and NPX to deploy nuclear-specific AI tools for Small Modular Reactor development and operations, aiming to cut timelines and improve efficiency. The AI platforms are designed to give engineers rapid access to proprietary knowledge and technical documentation, with reported information retrieval time reductions of up to 80%. NuScale Power expects the tools to support engineering productivity, regulatory compliance workflows, and safety-focused analysis across its SMR projects. The company, a US-based electrical industry firm with a market cap of about $4.2 billion, focuses on providing small modular reactor technology solutions. This AI move aligns with its core effort to make SMR design and operation more efficient and scalable for potential customers and partners.

NuScale Power, the only U.S. company with regulatory approval for small modular reactors, is pursuing a 6-gigawatt project with the Tennessee Valley Authority that, if built, would be the world's largest SMR facility by a large margin. The key catalyst for investors is whether a power purchase agreement with TVA is signed, potentially as early as the company's next earnings announcement on November 5. A PPA would lock in TVA's commitment and allow construction to begin, lifting the uncertainty that has kept NuScale's market cap under $4 billion. However, NuScale's history includes a failed 2019 project with Utah Associated Municipal Power Systems, which was canceled in late 2023 after cost overruns and delays, causing its stock to fall nearly 80% that year. Bank of America analysts see nuclear energy as a $10 trillion opportunity over coming decades, driven by surging electricity demand from AI and data centers, with SMRs poised to reshape supply chains.

Iran has considered targeting U.S. military assets in Europe if President Donald Trump escalates the conflict, the Financial Times reported, citing two regime insiders. Potential targets include U.S. facilities in southeastern Europe and subsea fiber-optic cables near the Strait of Hormuz. The report adds another geopolitical risk for markets already sensitive to energy prices and global supply disruptions.

NuScale Power announced a collaboration with Curio and Framatome to develop integrated nuclear fuel solutions for advanced reactors. The partnership will focus on technical assessment, fuel development, and supply chain integration for next-generation nuclear technologies, aiming to support commercialization in both U.S. and international markets. The memorandum of understanding addresses a key part of NuScale's small modular reactor strategy by coordinating the fuel cycle from recycling used fuel to qualifying and fabricating new fuel, while also targeting supply chain risks. However, the agreement does not resolve NuScale's current lack of revenue and ongoing losses, with firm contracts and progress on projects like the Romanian plant still needed.

NuScale Power, a developer of small modular nuclear reactors, is positioned as a high-risk, high-reward opportunity for aggressive growth investors. The company holds the only U.S. regulatory approval for an SMR design and has a project pipeline that includes a 6-gigawatt system ordered by the Tennessee Valley Authority. A key catalyst could arrive by the end of the year if NuScale signs a power purchase agreement for that project. However, the stock trades at a market cap of just $3.5 billion, reflecting execution risk after a major project cancellation in 2024.

NuScale Power reported a 99% plunge in second-quarter revenue to about $75,000, yet its stock gained nearly 1% as investors focused on the company's readiness to deploy its small modular reactor technology. The revenue decline from $8.1 million a year earlier was largely due to the completion of one-time services for the RoPower project in Romania, making the comparison lumpy. President and CEO John Hopkins emphasized that NuScale has over 60 suppliers, including Paragon and Honeywell, and holds an NRC-approved design, positioning it to move forward once a binding commercial contract is secured. The company is awaiting a potential power purchase agreement with TVA through ENTRA1 for up to 72 modules, which would mark its first large-scale commitment. NuScale's deliberate, design-complete approach aims to avoid past nuclear construction pitfalls, supporting a long-term investment thesis despite current losses.

NuScale Power is set to report second-quarter earnings after market close on August 5, with analysts eyeing a potential catalyst that could reverse the stock's nearly 50% year-to-date decline. The company's market cap has fallen to just $3 billion despite Bank of America's view that nuclear energy represents a $10 trillion long-term opportunity. A key focus is the 6 GW small modular reactor project with the Tennessee Valley Authority, where the signing of a power purchase agreement would significantly reduce execution uncertainty. NuScale's CFO said in May that the company is hopeful a PPA with TVA can be finalized later this year, and any positive update could send shares soaring from their current level below $10.

NuScale Power is back in focus after Tennessee Valley Authority and ENTRA1 Energy outlined plans for up to 6 gigawatts of its small modular reactor technology across six proposed plants. The company holds the only SMR design certified by the Nuclear Regulatory Commission, a moat built over years and hundreds of millions of dollars. A widely followed narrative on Simply Wall St pegs NuScale’s fair value at $100 per share against a recent close of $8.42, implying the stock is 91.6% undervalued based on aggressive revenue expansion and improving margins. However, risks remain if SMR project costs stay high or deployment timelines slip further. The stock’s one-year total shareholder return has declined 81.05% despite a positive three-year return.

NuScale Power shares soared 15.5% on Thursday after Nvidia CEO Jensen Huang endorsed nuclear energy as crucial for the AI industry during an appearance on The Joe Rogan Experience podcast. Huang predicted that many small nuclear reactors will be built in the next six to seven years to meet AI's power demands, calling it the smartest approach. NuScale Power, which develops small modular reactors, saw its stock extend gains following an 11% rise earlier in the week. The company remains speculative with minimal revenue, prompting some analysts to suggest nuclear energy ETFs as a lower-risk alternative.

Rising U.S. electricity demand driven by AI data centers is boosting interest in nuclear energy stocks, particularly NuScale Power and Oklo. Reuters reports that U.S. power consumption hit its second straight annual record high in 2025 and will rise further in 2026 and 2027, with commercial sector demand expected to outpace residential demand in 2026 for the first time on record. A Goldman Sachs Group report concludes that power is the most pressing bottleneck for AI progress, requiring an all-in approach that includes long-term nuclear solutions. NuScale Power focuses on larger, utility-scale small modular reactor deployments through partnerships with major utilities, while Oklo sells its systems directly to AI data centers for onsite power generation. The choice between the two stocks depends on whether investors believe data centers will rely on grid connections or seek direct power sources.

NuScale Power anticipates finalizing a long-term power purchase agreement with the Tennessee Valley Authority by the end of 2026, a deal that would unlock construction of a 6 GW small modular reactor system and potentially make the company operationally cash flow positive. CFO Robert Hamady stated in May that the company is hopeful TVA can finalize the agreement later this year, which would trigger milestone payments and site construction. NuScale remains the only U.S. company with regulatory approval for small modular reactors, and Bank of America analysts see a $10 trillion market opportunity for nuclear energy firms driven by AI-related energy demand. Despite a roughly 41% decline in its stock price so far in 2026, pushing its market cap to approximately $3.07 billion, the pending agreement represents a major catalyst that could resolve significant funding uncertainty.

President Donald Trump signed an executive order in May 2025 aiming to expand U.S. nuclear power capacity from 100 gigawatts to 400 gigawatts by 2050. The order seeks to accelerate regulatory and financing support for both established nuclear operators and emerging technologies like small modular reactors. Constellation Energy has already received a $1 billion government loan tied to its nuclear ambitions, while NuScale Power recently won approval for a higher-capacity reactor design and is working with a Romanian utility and the Tennessee Valley Authority on potential first deployments. Cameco and Brookfield Renewable offer indirect exposure through uranium supply and shared ownership of Westinghouse, respectively. Power demand is projected to grow 60% over the next 20 years, up from 10% in the prior two decades, intensifying the push for reliable, carbon-free baseload generation.

Nuclear energy is experiencing a global renaissance, and two stocks in particular are primed to benefit. Bank of America sees the nuclear revival creating a $10 trillion investable opportunity, driven by surging electricity demand from energy-intensive AI technologies. NuScale Power, with a $3.2 billion market capitalization, is the only company approved by U.S. regulators to build small modular reactor systems, though its projects are not expected to be completed until 2030 at the earliest. Oklo, valued at $7.7 billion, focuses on selling small modular reactors directly to big tech and data center businesses and counts OpenAI CEO Sam Altman as a major investor. Both companies are pure-play bets on the nuclear renaissance but carry financing risks and are suited for aggressive growth investors willing to stomach extra volatility.

NuScale Power Corporation is entering a pivotal commercialization phase with U.S. regulatory approvals for its 50-megawatt and 77-megawatt reactor designs, an established supply chain, and roughly $1 billion in liquidity and capital resources including cash, short-term investments, and long-term investments with no debt. The company must now convert development programs into binding contracts, recurring service revenue, and equipment sales, with first-quarter revenues falling to $565,000 from $13.4 million a year earlier as prior RoPower licensing and engineering activity did not recur. A proposed program with the Tennessee Valley Authority and ENTRA1 Energy covering up to 6 gigawatts of capacity using NuScale modules across multiple plants represents the most visible U.S. commercial opportunity, where a finalized power-purchase agreement could move the program into site-specific licensing and engineering work and eventually support an equipment supply contract. Near-term risks include project funding delays, shareholder dilution after NuScale sold 3.2 million Class A shares through its at-the-market program in the first quarter generating $37.9 million in gross proceeds, and a Zacks Rank of 4, or Sell, reflecting a cautious near-term earnings revision backdrop.

Investment banks are highlighting nuclear energy as a key solution for surging electricity demand driven by AI data centers. Goldman Sachs, Bank of America, Morgan Stanley, and Citigroup have all issued bullish reports on nuclear power, with Citigroup particularly excited about small modular reactors, or SMRs. Two stocks seen as direct plays on SMR adoption are NuScale Power and Oklo, both of which have market caps under $10 billion after a steep correction. Oklo, which counts OpenAI CEO Sam Altman as an early investor, has a 14 GW pipeline of big tech and data center clients but has yet to receive regulatory approval or commercialize a design. NuScale has regulatory approval for a 6 GW project with the Tennessee Valley Authority but has not yet signed a binding power purchase agreement. Bank of America values the global nuclear opportunity at $10 trillion over the next couple of decades, though SMRs are expected to play only a minority role.

SpaceX aims to launch data centers into space by 2027 to harness continuous solar energy and reduce cooling costs, a move that underscores the AI industry's urgent need for new power solutions and validates the market opportunity for NuScale Power's small modular reactors. NuScale, the only U.S. company with an approved SMR design, offers a terrestrial alternative that requires less land, shorter construction times, and can be co-located with data centers. While SpaceX's orbital data center plan has driven its valuation to $1.9 trillion, NuScale's approach is seen as more feasible and proven, targeting the same end-market demand as AI-driven electricity consumption is projected to reach 9% of U.S. generation by 2030.

NuScale Power, a developer of small modular reactors, could see its stock rise from $9 to over $100 per share by 2030, according to a Motley Fool analysis. The company, currently valued under $4 billion, would reach a market capitalization of about $34 billion at that price, a level the analysis deems reasonable if it executes on its project pipeline amid a global nuclear energy renaissance. Bank of America analysts estimate the nuclear sector is part of a $10 trillion global opportunity, driven by rising demand for clean power from the artificial intelligence industry. NuScale has yet to achieve major revenue milestones and continues to raise capital to cover negative cash flows, presenting significant execution risks.