Nuclear power is gaining attention as companies like Oklo Inc. (OKLO) and NuScale Power (SMR) aim to meet the increasing demand for reliable electricity from data centers and AI workloads. Both companies are developing advanced nuclear systems, with OKLO focusing on a broader ecosystem that includes reactors, fuel supply, and isotope production, while NuScale leverages its regulatory approvals for modular reactor designs to target various markets.
As of Q1 2026, OKLO reported no revenues but had $2.5 billion in cash and marketable securities, while NuScale’s revenues dropped to $0.6 million from $13.4 million a year prior. Stock performance reveals OKLO has decreased by 22% over six months, while NuScale fell by 33%. On a price-to-book basis, OKLO trades at 4.5X and SMR at 3.7X, signaling investor perception of OKLO’s broader market opportunity despite its unproven business model.
NuScale is pursuing a potential 6-gigawatt project with TVA-ENTRA1, which could validate its commercial potential. Both companies carry a Zacks Rank of #3 (Hold), indicating that neither is currently positioned as an aggressive buy. Key risks remain for both in terms of project execution and regulatory approvals.
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