NuScale Power (NYSE: SMR) stock went thermonuclear on Monday, soaring on the back of a price target hike from analysts at Canaccord Genuity, and adding to gains since the company reported earnings on Thursday.

As of 11 a.m. ET, NuScale stock is up 26.9%.

Canaccord nearly doubled its price target on NuScale stock today, to $8 per share, citing rising demand for electricity in the United States, a bigger opportunity for nuclear energy to power that growth -- and explaining that demand for electricity to power artificial intelligence (AI) is behind it all.

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Source Fool.com