Is NuScale Power Stock a Millionaire Maker?
Electricity demand is rising rapidly in the United States. Growth in spending on data centers related to artificial intelligence (AI) is causing electricity usage in the country to rise at the fastest rate in decades, with projections for sustained growth in the 2030s, thanks to the adoption of electric modes of transportation making significant inroads in market share in the industry.
Electrification is going to be a long-term trend around the world, and the party is just getting started. Countries and municipalities are searching for alternatives to fossil fuels to help match electricity supply with this growing demand.
One company that hopes to ride this wave is NuScale Power (NYSE: SMR), a start-up focused on small modular nuclear reactors (SMRs). It went public a few years ago and now has a market cap approaching $5 billion as investors get optimistic about potential growth in nuclear energy.
Source Fool.com
