The resurgence of nuclear power is making headlines as clean energy demand grows and the need for power for AI data centers soars. Mega-cap tech companies like Amazon and Microsoft are getting in on the action by striking nuclear power deals to meet their increasing energy needs.
One utility company is even restarting the Three Mile Island nuclear power plant to supply power to Microsoft through a 20-year deal. This plant, located in Pennsylvania, was the site of the worst nuclear accident in the US back in 1979.
Amazon is also making significant investments in nuclear power, leading a $500 million financing round for a company developing modular nuclear reactors and purchasing a nuclear-powered data center for $650 million. Amazon Web Services CEO, Matt Garman, emphasized the importance of transitioning to carbon-free energy sources like nuclear power to address climate change.
Analysts on Wall Street are optimistic about the nuclear energy projects, particularly those involving Small Modular Reactors (SMRs) that offer the potential to reduce carbon emissions. These investments in nuclear power are seen as crucial for companies like Amazon to secure their position as leading cloud and AI providers.
The resurgence in nuclear power has led to significant gains in the market, with some stocks more than doubling in just a few days this year. Companies in the nuclear power sector, from utility companies to uranium miners to small-scale nuclear developers, are experiencing a revival in their stock performance.
Let’s take a look at some of the top-performing nuclear-focused stocks for this year:
7. Cameco
Ticker: CCJ
Market value: $23.6 billion
YTD Performance: +25%
6. BWX Technologies
Ticker: BWXT
Market value: $11.3 billion
YTD Performance: +62%
5. Oklo
Ticker: OKLO
Market value: $2.4 billion
YTD Performance: +88%
The nuclear power industry’s resurgence is creating opportunities for investors to capitalize on this growing trend. Stay informed about the latest developments in the nuclear power sector and consider adding nuclear-focused stocks to your portfolio for potential growth and investment opportunities. Extreme Investor Network is your go-to source for exclusive insights and updates on the finance and investment world, helping you stay ahead in the world of finance.