Shares of NuScale Power (NYSE: SMR), a nuclear energy company that makes small modular reactors (SMRs), were soaring Wednesday on reports that Amazon (NASDAQ: AMZN) is interested in using that type of reactor to meet the energy needs of its data centers.

NuScale surge also seemed to be getting enhanced by a short squeeze, as a significant percentage of the company's stock is sold short. Potentially positive news like this tends to lead to shorts rushing to cover their bets.

As a result, the stock rose to a new all-time high in morning trading, and was up 31.6% as of 12:36 p.m. ET. The Amazon news also sent shares of Fluor (NYSE: FLR), a major investor in NuScale, up by 7.2%.

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Source Fool.com