As artificial intelligence (AI) continues to drive growth, companies are reassessing their energy strategies to meet the increasing demands of AI-powered data centers and other high-energy applications. In response, several countries have pledged to increase their nuclear energy capacity by three times by 2050, a move that could benefit stocks like Constellation Energy, Cameco, and NuScale Power.
Constellation Energy, a leading clean-energy producer in the US, is well-positioned to capitalize on the growing demand for carbon-free nuclear power. With 86% of its output from nuclear, the company is one of the largest suppliers of clean energy in the country. Microsoft’s recent partnership with Constellation to power its data centers sets a significant trend in the industry.
Cameco, a major uranium supplier, is poised to benefit from tight supply and rising demand. Despite the US ban on Russian uranium imports, Cameco remains well-positioned to meet robust demand due to underinvestment in development and exploration. Forecasts suggest uranium prices could average around $110 per pound next year, driven by rising demand.
NuScale Power’s innovative small modular reactors (SMRs) are gaining attention from tech companies and investors. Although the company faces challenges, its technology has captured the imagination of industry experts. NuScale is the only company to secure Standard Design Approval for its 50-megawatt SMR, and partnerships with Standard Power could bring its facilities online by 2029.
As the global demand for nuclear power grows, these three companies are likely to benefit from the trend. With careful consideration and a long-term perspective, investors may be able to capitalize on this opportunity before it’s too late.
Source: https://finance.yahoo.com/news/artificial-intelligence-ai-companies-going-091800015.html