Tech giants are placing a massive bet on AI, preparing to invest $320-$325 billion into infrastructure by 2025—marking a staggering 46% leap from 2024. But powering this AI revolution demands massive amounts of energy, and surprisingly, nuclear power is becoming the unlikely favorite.
Amazon, Google, and Meta set a bold goal at CERAWeek 2025: tripling global nuclear capacity by 2050 to fuel AI data centers. Even Microsoft joined the fray, striking a deal to revive the infamous Three Mile Island nuclear plant to meet its growing energy demands.
As Big Tech pivots toward nuclear, here are five nuclear energy stocks that could surge:
1. NuScale Power (SMR)
NuScale leads in Small Modular Reactors (SMRs), smaller nuclear reactors that are cheaper and quicker to build than traditional ones. The U.S. Department of Energy allocated $900 million for SMR projects in 2024, significantly benefiting NuScale. With their first SMR set to debut commercially, NuScale is perfectly positioned to partner with tech firms urgently needing reliable energy. However, SMRs still face untested commercial viability and regulatory risks.
2. Oklo Inc. (OKLO)
Oklo’s microreactors caught attention with their compact size, ease of deployment, and backing from OpenAI’s Sam Altman. Their innovative approach caused their stock to surge nearly 50% in January 2025. Oklo’s microreactors cater specifically to AI data centers, but commercialization timelines and regulatory hurdles still pose risks.
3. Constellation Energy (CEG)
Constellation Energy is reviving Three Mile Island (renamed Crane Clean Energy Center) to deliver energy to Microsoft under a 20-year agreement. Restarting this plant is ten times cheaper than new construction, promising affordability. Yet, historical safety concerns from the 1979 accident and competition from energy-efficient AI models like DeepSeek remain issues, causing a recent 20% stock decline.
4. Cameco Corporation (CCJ)
Cameco, a global leader in uranium production, stands to gain immensely from increased nuclear energy demand. The joint pledge by tech giants at CERAWeek 2025 spotlighted uranium suppliers, hinting at future profit growth. However, the commodity nature of uranium and fluctuating market conditions require investors to carefully consider external factors.
5. BWX Technologies (BWXT)
BWX, known for servicing nuclear reactors, is expanding rapidly through partnerships and government contracts. Analysts predict a massive 93% revenue increase by 2026. BWX’s partnership with Danieli positions it well for the SMR sector, but its dependency on contracts makes its stock vulnerable to policy shifts.
Nuclear energy: Essential or symbolic?
While tech giants’ commitments have positioned nuclear power as a potential game-changer, investors must navigate carefully. Nuclear projects typically face long build times and high upfront costs. Additionally, renewable energy sources and emerging carbon-capture natural gas solutions offer quicker and potentially cheaper alternatives.
Microsoft’s deal to restart Three Mile Island, Amazon’s memorandum of understanding with Dominion Energy, and tech giants’ collective pledge signal genuine interest, yet nuclear remains a longer-term bet compared to readily available renewable and gas alternatives.
Investors should closely monitor regulatory developments, commercialization timelines, and alternative energy advancements to make informed decisions. Nuclear may promise the future, but the reality of immediate energy needs in 2025 could steer tech giants toward more practical solutions.
Nuclear power is becoming key to tech’s clean-energy aspirations, but with major investments on the line, caution is prudent.
Disclaimer: The content of this article is for informational purposes only and should not be construed as investment advice. We do not endorse any specific investment strategies or make recommendations regarding the purchase or sale of any securities.
Featured image credit: Kerem Gülen/Ideogram
