Why NuScale Power Shares Popped 55% This Week
Shares of NuScale Power (NYSE: SMR) jumped as much as 54.9% in trading this week, according to data provided by S&P Global Market Intelligence, as the market continues to speculate on future nuclear growth. Shares gave back some of those gains late in the week and are up 37.7% from last Friday's close, as of noon ET.
Artificial intelligence (AI) has caused a big surge in nuclear energy interest because of the immense energy needs of AI data centers. Microsoft was the first to sign a big deal that involved reopening Three Mile Island's reactors, but this week, Amazon and Alphabet joined the party.
Amazon said it would work with utilities to develop four small modular reactors in Washington state, and signed a deal with Dominion Energy to "explore the development of an SMR project near Dominion's existing North Anna nuclear power station." In addition, the company made an investment in privately held X-energy.
Source Fool.com
