Tech giants are increasingly turning to nuclear power to meet energy demands from AI-driven data centers, leading to an expected rise in uranium demand. Influential companies like Amazon, Google, and Meta are advocating for a tripling of nuclear energy capacity by 2050, backed by President Trump’s executive orders aiming to quadruple U.S. nuclear capacity from 100 GW to 400 GW during that time frame.
Meta has entered a 20-year agreement with Constellation Energy to purchase approximately 1.1 gigawatts of energy starting in June 2027, while Saudi Arabia’s $600 billion investment commitment in U.S. AI and energy infrastructure includes plans for $20 billion in AI data centers. Current uranium spot prices are around $71.5, with analysts anticipating upward momentum due to increased nuclear adoption and supply constraints.
