Technology companies enhance the future of nuclear energy with historic deals.

Shares of nuclear energy companies have seen a record increase this week following announcements by Amazon and Google about historic energy supply deals, in a move that boosts efforts to deploy small modular nuclear reactors in the United States. These developments are a clear indicator of the accelerating nuclear renaissance, which plays a pivotal role in supporting energy-hungry data centers related to artificial intelligence technologies.

Rise in Nuclear Reactor Companies’ Stocks

Standard nuclear reactor developers such as Oklo and NuScale Power have seen significant increases of 99% and 37% respectively, following announcements by their competitors X-energy and Kairos Power of new financing agreements. Stocks of companies like Cameco, Constellation, and BWX Technologies have also reached record levels, reflecting growing confidence in nuclear energy’s sustainable energy solution.

Small Reactors and Renewable Technology

These deals are part of a plan to deploy up to 12 new nuclear reactors, aiming to provide Amazon’s and Google’s data centers with clean, low-carbon energy. These centers require massive amounts of electricity, making the reliance on sustainable and reliable energy sources imperative.

Government Support and Global Race

The nuclear sector is receiving significant support from the US government, especially with growing concerns about Russia and China’s dominance in deploying small nuclear reactors. The nuclear race is also aimed at ensuring energy supply stability, particularly with technology companies increasingly relying on artificial intelligence.