The nuclear energy sector is projected to become a $10 trillion opportunity over the next few decades, according to a recent report by Bank of America. Key factors fueling this growth include increasing electricity demand driven by the electrification of transportation, rising industrial needs, and the expansion of energy-intensive data centers, particularly for AI applications. The report also warns that utilities will need to invest substantially in power generation and transmission capacity to meet this demand.
Currently, only two small modular reactors (SMRs) are operational worldwide, although many more are under development. NuScale Power (NYSE: SMR) is focused on large utility-scale deployments, including a 6 GW project for the Tennessee Valley Authority. In contrast, Oklo (NYSE: OKLO) targets smaller systems, recently partnering with Meta Platforms for a 1.2 GW SMR system to power its AI data centers. Both companies present distinct investment opportunities amid the expected rise of SMRs and nuclear power.
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