AI's Demand for Energy Drives Nuclear ETFs to Record Levels
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 22 2025
0mins
Should l Buy SMR?
Source: Benzinga
Nuclear ETFs Surge: Nuclear-themed ETFs, such as the VanEck Uranium+Nuclear Energy ETF (NLR) and the Range Nuclear Renaissance Index ETF (NUKZ), have seen significant gains, with NLR reaching an all-time high and both ETFs up over 100% from their lows, reflecting a growing investor interest in nuclear energy's role in the AI revolution.
Market Potential and Policy Support: A Bank of America report highlights a potential $10 trillion market opportunity for nuclear energy by 2050, driven by increased demand for reliable energy sources. Policy support from the Trump administration and revised growth expectations from the International Atomic Energy Agency (IAEA) further bolster the sector's outlook.
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Analyst Views on SMR
Wall Street analysts forecast SMR stock price to rise
13 Analyst Rating
5 Buy
6 Hold
2 Sell
Hold
Current: 12.380
Low
18.50
Averages
32.77
High
60.00
Current: 12.380
Low
18.50
Averages
32.77
High
60.00
About SMR
NuScale Power Corporation is a provider of proprietary advanced small modular reactor nuclear technology. The NuScale Power Module, the Company's SMR technology, is a small pressurized water reactor that can generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross) and can be scaled to meet customer needs through an array of flexible configurations of up to 924 MWe (12 modules) of output. In addition to the sale of NPMs, it offers a diversified suite of services throughout the development and operating life of the power plant. The Company's suite of services is planned to include licensing support, testing, training, fuel supply services and program management, among others. It serves a range of customers consisting of governments, political subdivisions, state-owned enterprises, investor-owned utilities and other technology and industrial companies, both in domestic and international markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Stock Volatility: NuScale Power's stock has plummeted 79% from $57 last October to $12.38 today, indicating significant market concerns about its future, which could lead to diminished investor confidence.
- First-Mover Advantage: As the only small modular reactor manufacturer certified by the U.S. Nuclear Regulatory Commission (NRC), NuScale's design took 3.5 years to approve, providing a first-mover advantage, yet it still faces competitive pressures and project execution challenges.
- Slow Project Progress: The RoPower project in Romania has received a final investment decision, but the new facility is not expected to be operational until 2033, a delay from the original 2030 timeline, highlighting the complexities and risks of project implementation.
- Controversial Partnership: The collaboration with ENTRA1, while aiding project financing, has raised investor concerns due to the requirement for milestone payments potentially totaling $6 billion, which could impact NuScale's financial stability and future growth prospects.
See More
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- Rise of Small Reactors: The share of energy demand from data centers in the U.S. is expected to increase from 4.3% in 2024 to 11.7% by 2030, presenting significant market opportunities for small modular reactor companies like Oklo and NuScale.
- Market Competition Analysis: Oklo focuses on providing 15 to 75 megawatt small reactors for the AI industry, while NuScale is better suited for large utility projects, resulting in Oklo's valuation of $9.1 billion compared to NuScale's $3.7 billion.
- Unlocking Technological Potential: The explosive growth of the AI sector may lead to increased investments in small reactor companies like Oklo and NuScale, as data center operators are willing to pay higher operational costs for scalable and reliable power sources.
See More
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- Advantages of SMRs: Companies like Oklo and NuScale, which focus on small modular reactors, can provide clean, scalable power to data centers and the AI industry, positioning themselves as potential market winners amid rising energy needs.
- Oklo's Market Positioning: Oklo's focus on smaller 15 to 75 megawatt reactors gives it a significant edge over NuScale's multi-billion dollar projects, resulting in a valuation of $9.1 billion compared to NuScale's $3.7 billion, showcasing its competitive advantage in the AI market.
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See More
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- Financial Crisis: NuScale's general and administrative expenses surged over 3,000% to $519 million in Q3 2025, primarily due to a $495 million payment to ENTRA1 Energy LLC, resulting in a quarterly net loss skyrocketing to $532 million, up from $46 million in the prior year.
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See More
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- Legal Investigation Launched: Faruq & Faruqi LLP is investigating potential claims against NuScale Power Corporation, particularly regarding securities transactions between May and November 2025, urging investors to contact them before the April 20, 2026 deadline to seek lead plaintiff status.
- Financial Loss Exposure: NuScale unexpectedly revealed on November 6, 2025, that its general and administrative expenses surged over 3,000% to $519 million in Q3, primarily due to a $495 million payment to ENTRA1, resulting in a quarterly net loss skyrocketing to $532 million, up from $46 million the previous year.
- Stock Price Volatility: Following this news, NuScale Class A shares dropped over 12% within two days, from approximately $32 on November 6, 2025, to about $28 on November 10, 2025, with the stock continuing to decline to a low of just $17 by November 21, 2025, representing a more than 70% drop from its peak above $57.
- Details of Allegations: The complaint alleges that NuScale and its executives violated federal securities laws by failing to disclose significant risks associated with their partnership with ENTRA1, including the latter's lack of experience in nuclear energy, which could jeopardize their commercialization strategy and expose them to failures, delays, and regulatory challenges.
See More
NuScale Power Stock Plummets 79% Amid Challenges
- Stock Volatility: NuScale Power's stock has plummeted 79% from $57 last October to $12.38 today, indicating significant market concerns about its future, which could lead to diminished investor confidence.
- First-Mover Advantage: As the only small modular reactor manufacturer certified by the U.S. Nuclear Regulatory Commission (NRC), NuScale's design took 3.5 years to approve, providing a first-mover advantage, yet it still faces competitive pressures and project execution challenges.
- Slow Project Progress: The RoPower project in Romania has received a final investment decision, but the new facility is not expected to be operational until 2033, a delay from the original 2030 timeline, highlighting the complexities and risks of project implementation.
- Controversial Partnership: The collaboration with ENTRA1, while aiding project financing, has raised investor concerns due to the requirement for milestone payments potentially totaling $6 billion, which could impact NuScale's financial stability and future growth prospects.
See More
U.S. Energy Demand Growth and Opportunities for Small Modular Reactors
- Energy Demand Growth: U.S. energy demand is projected to grow by 4% annually through 2030, primarily driven by the construction of data centers, highlighting the strong energy needs of the AI industry.
- Rise of Small Reactors: The share of energy demand from data centers in the U.S. is expected to increase from 4.3% in 2024 to 11.7% by 2030, presenting significant market opportunities for small modular reactor companies like Oklo and NuScale.
- Market Competition Analysis: Oklo focuses on providing 15 to 75 megawatt small reactors for the AI industry, while NuScale is better suited for large utility projects, resulting in Oklo's valuation of $9.1 billion compared to NuScale's $3.7 billion.
- Unlocking Technological Potential: The explosive growth of the AI sector may lead to increased investments in small reactor companies like Oklo and NuScale, as data center operators are willing to pay higher operational costs for scalable and reliable power sources.
See More
AI Drives New Opportunities in Nuclear Industry
- Energy Demand Growth: U.S. energy demand is projected to grow by 4% annually through 2030, primarily driven by data center construction, highlighting the nuclear sector's critical role in future energy frameworks.
- Advantages of SMRs: Companies like Oklo and NuScale, which focus on small modular reactors, can provide clean, scalable power to data centers and the AI industry, positioning themselves as potential market winners amid rising energy needs.
- Oklo's Market Positioning: Oklo's focus on smaller 15 to 75 megawatt reactors gives it a significant edge over NuScale's multi-billion dollar projects, resulting in a valuation of $9.1 billion compared to NuScale's $3.7 billion, showcasing its competitive advantage in the AI market.
- Technological Support and Investment Outlook: The rapid growth of the AI sector has renewed interest in Oklo's technology, and despite its higher valuation, its potential to meet AI industry demands makes it a preferred long-term investment choice.
See More
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- Kyndryl Lawsuit Overview: Kyndryl Holdings, Inc. faces a class action lawsuit for issuing false financial statements from August 7, 2024, to February 9, 2026, with a lead plaintiff deadline of April 13, 2026, potentially exacerbating shareholder losses if the case succeeds.
- PayPal Legal Issues: PayPal Holdings, Inc. is accused of failing to effectively execute its business initiatives during the period from February 25, 2025, to February 2, 2026, requiring investors to file a lead plaintiff motion by April 20, 2026, which could impact its market reputation and stock price.
- NuScale Risk Disclosure: NuScale Power Corporation is charged with failing to disclose significant risks in its commercialization strategy from May 13, 2025, to November 6, 2025, with a lead plaintiff deadline of April 20, 2026, potentially leading to a decline in investor confidence.
- Corcept Regulatory Challenges: Corcept Therapeutics Incorporated faces allegations of not disclosing FDA concerns regarding the effectiveness assessment of its drug from October 31, 2024, to January 30, 2026, with a lead plaintiff deadline of April 21, 2026, which may affect its future drug approval processes.
See More
NuScale Power Faces Class Action Lawsuit
- Lawsuit Background: Pomerantz LLP has announced a class action lawsuit against NuScale Power, alleging that the company and certain executives engaged in securities fraud or other unlawful business practices, with investors needing to apply to be Lead Plaintiff by April 20, 2026.
- Financial Crisis: NuScale's general and administrative expenses surged over 3,000% to $519 million in Q3 2025, primarily due to a $495 million payment to ENTRA1 Energy LLC, resulting in a quarterly net loss skyrocketing to $532 million, up from $46 million in the prior year.
- Market Reaction: Following the earnings report, NuScale's stock price fell by $7.57, or 19.97%, over the next two trading sessions, closing at $30.34 per share, reflecting investor concerns about the company's financial health.
- Project Risks: Analysts questioned during the conference call whether ENTRA1 had sufficient experience to operate the energy facilities related to the TVA agreement, with NuScale's CEO indicating that the agreement could involve as many as 72 NPMs, potentially exceeding $3 billion in milestone payments.
See More
Faruqi & Faruqi Investigates NuScale Securities Litigation
- Legal Investigation Launched: Faruq & Faruqi LLP is investigating potential claims against NuScale Power Corporation, particularly regarding securities transactions between May and November 2025, urging investors to contact them before the April 20, 2026 deadline to seek lead plaintiff status.
- Financial Loss Exposure: NuScale unexpectedly revealed on November 6, 2025, that its general and administrative expenses surged over 3,000% to $519 million in Q3, primarily due to a $495 million payment to ENTRA1, resulting in a quarterly net loss skyrocketing to $532 million, up from $46 million the previous year.
- Stock Price Volatility: Following this news, NuScale Class A shares dropped over 12% within two days, from approximately $32 on November 6, 2025, to about $28 on November 10, 2025, with the stock continuing to decline to a low of just $17 by November 21, 2025, representing a more than 70% drop from its peak above $57.
- Details of Allegations: The complaint alleges that NuScale and its executives violated federal securities laws by failing to disclose significant risks associated with their partnership with ENTRA1, including the latter's lack of experience in nuclear energy, which could jeopardize their commercialization strategy and expose them to failures, delays, and regulatory challenges.
See More
