Why NuScale Power Is Skyrocketing Today
Shares of NuScale Power (NYSE: SMR) are flying today. The stock is up 12.7% as of 1:45 p.m. ET., but gained as much as 14.5% earlier in the day. The upward movement comes as the S 500 and the Nasdaq Composite were up 1% and 4%, respectively.
NuScale was mentioned in a research report released Thursday by the International Energy Agency (IEA). The report -- bullish on nuclear power at large -- specifically mentioned the model NuScale is betting on as particularly promising.
While nuclear power fell out of fashion throughout much of the globe for decades, the past year has seen a renewed interest as power demands from artificial intelligence (AI) have ballooned. The IEA report noted that nuclear power is set to reach a new record in 2025 "as electricity demand accelerates." The technology is making "a strong comeback" as more than 40 countries around the world have plans to "expand nuclear's role in their energy systems."
Source Fool.com
