(NYSE: CCJ) is a supplier to the nuclear power industry, providing fuel for power plants and offering an array of services necessary to build and operate reactors safely and efficiently. If you believe strongly in the future of nuclear power, Cameco could be an interesting investment to consider. But is it worth buying right now?
Nuclear power is in high demand today as technology giants have become desperate to secure reliable electricity supplies for their electricity-hungry data centers -- so much so that they are willing to reactivate retired nuclear reactors to get what they need.
Microsoft, for example, has signed a 20-year purchase power agreement with Constellation Energy for the output from the undamaged reactor at the infamous Three Mile Island plant, which should return to operation in 2028. Meanwhile, inked a 20-year power deal for Clinton Clean Energy Center, which would likely have been shuttered in 2027 when a state program that subsidizes emissions-free energy is set to expire. Meta's deal effectively replaces that government support.
Source Fool.com