Nuclear stocks have been moving higher with the artificial intelligence (AI) boom
The artificial intelligence (AI) boom is showing no signs of slowing down as we head into 2025, keeping nuclear stocks on the map amid the rapid energy consumption. With this in mind, we're checking on three big names in the industry.
Shares of Oklo Inc (NYSE:OKLO) are up 2.9% at $19.66 at last glance, earlier jumping as high as $22.94, after the nuclear technology company -- backed by Sam Altman-Reid -- announced a strategic partnership with data center operator Switch. The stock has been quite volatile on the charts since its Oct. 30 record high of $28.11, though the $18 level has contained pullbacks. Since the start of 2024, the equity is up 84.8%.
Cameco Corp (NYSE:CCJ) is one of the world's largest uranium producers, which is widely used as fuel for nuclear reactors. On the charts, CCJ has been slipping since its Dec. 6 record high of $62.55, closing seven of the last eight sessions lower. The stock is on the rise today, however, up 1.5% at $54.19 and bouncing off the $54 level, which acted as pressure in June and July. Year to date, the equity is up 25.7%.
NuScale Power Corp (NYSE:SMR) stock is down 5% at $20.62 at last glance, extending a steady downturn after its Nov. 29 record high of $32.30. Former pressure at the $20 level could emerge as support, however, as the 60-day moving average captures today's pullback. Since the start of the year, SMR is up a whopping 520%.