Is nuclear energy the new solution amidst the AI wave? This industry has become the 'invisible winner,' rising over 220% in just one year.

As the global energy transition moves into the deep waters, nuclear energy is emerging from the shadow of controversy for a new round of development opportunities.

The Tennessee River Basin Administration (TVA) has reached a landmark nuclear power agreement with Google and Kairos Power, becoming the first U.S. utility to commit to purchasing power from the next generation of small modular reactors (SMRs).

In the words of the entire emerging core industry, actual orders from utility companies like TVA and Technology luminaries like Yaoka are a key step in propelling technology from blue to business reality.

New Year《Technology giants compete with each other! 2025's nuclear stocks are on the horizon, or it will be AI's next battleground”As a reminder, Technology headsets are a major determinant of the need for endpoint demand in the core field, which means that AI's core needs are dipping away from the predictive shift towards reality.

Looking at this from the Industry's year-on-year rise, some companies have had a good performance this year, including small and medium-sized performance stars $Oklo Inc(OKLO.US)$ Cumulative increase of more than 220% in the year, nuclear fuel supplier $Centrus Energy(LEU.US)$ Increased by more than 166%, $Korea Electric Power(KEP.US)$ , the leading natural oil producer in the United States $Energy Fuels(UUUU.US)$ Doubled, Innovative Advanced SMR Technology Provider $NuScale Power(SMR.US)$ 95% Liter, American Electric Power Heads $GE Vernova(GEV.US)$ Over 90% increase, regional power suppliers in the United States $Talen Energy(TLN.US)$ Uranium Mining Company Rises Over 87% $Uranium Energy(UEC.US)$ That's up more than 58%.

The U.S. benchmark recovery has arrived! Industry Chain Opportunities to Seize

The latest Morgan Stanley Research Reports make it clear that the US energy recovery trend has slowed, and this will not only reshape the US energy structure, but will likely lead to a restructuring of the global Nuclear Industry Chain.

SMRS's licensed modulation design can greatly shorten the construction cycle and lower the initial investment cost to a large response, making it more suitable for a distributed and multicomponent power demand landscape. It can be said that SMRS is becoming a key variable in the US's growth bottleneck.

According to Morgan Stanley's forecast for a recovery in interest sentiment, the total US capacity will reach 150GW by 2050, with the current level rising significantly.

Prior to this, the Cattle Industry Chain was involved in the Nuclear Power Concept. According to the National Securities Research Reports, the SMR Nuclear Industry Chain covered a variety of environments from upstream fuel mining, midwater development, subsea transportation and waste processing.

IN CONTRAST, UPSTREAM DESIGN AND MANUFACTURING HAVE A HIGHER THRESHOLD FOR PROFESSIONALISM AND TECHNICAL BARRIERS, SO UPSTREAM VENDORS NEGOTIATE HIGHER PRICES. DOWNSTREAM MAINTENANCE CYCLES CAN LEAD TO LONG-TERM CASH FLOW AND A MORE PROFITABLE CYCLE. THE DOWNSTREAM PROJECT CONSTRUCTION LOOP PROFIT SPACE IS LIMITED BY CONSTRUCTION. Due to factors such as project cycle and engineering risk, the profitability ratio is relatively stable upstream or downstream.

Upstream: Raw materials and processing

The supply of basic raw materials, key equipment and fuels required for upstream Industry Chain and nuclear development, mainly includes mining and condensing.

Specifically, uranium mining includes $Cameco(CCJ.US)$ 、 $Uranium Energy(UEC.US)$ 、 $Energy Fuels(UUUU.US)$ 、 $Denison Mines(DNN.US)$ 、 $NexGen Energy(NXE.US)$ ; nuclear fuel processing $Centrus Energy(LEU.US)$ 。

Midstream: Design, R&D and Construction

Mid-stream includes design, R&D, and construction. In which,

$NuScale Power(SMR.US)$ is the first listed SMR nuclear power manufacturer, the company's core product is SMR power modules;

$Oklo Inc(OKLO.US)$ focused on the development of Small Modular Reactors (SMRs), which were invested by Altmann, the father of ChatGPT;

$NANO Nuclear Energy(NNE.US)$ Specializing in the development of Small Modular Modular Resonators, the main 4-block SMR-related content, including Manufacturing, Fuels, Transportation, etc., in the manufacture of multi-component vertically integrated Industry Chains;

$BWX Technologies(BWXT.US)$ Focusing on nuclear reactor component manufacturing and nuclear technology, the biggest difference from SMR/OKLO is that BWXT is a large equipment supplier and technology service provider primarily providing nuclear reactor components, nuclear fuel, and defense-related nuclear technology to government and commercial sectors. Customers include the U.S. Government (such as the Navy) (Nuclear submarines provide nuclear reactors).

Downstream: Operations, Sales and Waste Disposal

Downstream mainly for nuclear power plant operations and energy supply. Participants include $Constellation Energy(CEG.US)$ 、 $Vistra Energy(VST.US)$ 、 $American Electric Power(AEP.US)$ 、 $Southern(SO.US)$ 、 $Exelon(EXC.US)$ 、 $Duke Energy(DUK.US)$ 、 $Entergy(ETR.US)$ 、 $Public Service Enterprise Group(PEG.US)$ etc.

In addition, electrical and electrical equipment includes $GE Vernova(GEV.US)$ 、 $Eaton(ETN.US)$ 、 $Honeywell(HON.US)$ 、 $Emerson Electric(EMR.US)$ 、 $Graham(GHM.US)$ etc.

Which companies are worth paying attention to?

This article will highlight Star Stocks that are in decline in the Middle East $Centrus Energy(LEU.US)$ 、 $Oklo Inc(OKLO.US)$ 、 $GE Vernova(GEV.US)$ 。 To be specific,

OKLO—— Small Nuclear Novel

IN THE FIELD OF SMALL MODULAR REACTORS (SMR), $Oklo Inc(OKLO.US)$ Undoubtedly the most watched company in the market today, the company has grown by more than 850% in almost a year. Its core appeal stems from three key factors: top-tier investor support, leading-edge technical capabilities, and positive commercialization cooperation progress.

1. Top Investor Backing

Early Bets: Back in 2015, OpenAI founder and CEO Sam Otman, known as the “Father of ChatGPT”, invested in OKLO and served as Chairman. He highly recognized the company's potential and considered OKLO “the most likely to achieve commercialization of advanced fission energy solutions.”

Participation: OKLO receives more financial support from Technology and Investment majors such as Jeff Besos, Bill Goetz and Peter Thiel.

DUAL VALUE: THE DEEP INVOLVEMENT OF THESE TOP FIGURES HAS GREATLY BOOSTED MARKET CONFIDENCE, NOT ONLY PROVIDED OKLO WITH SOLID FUNDING SECURITY, BUT ALSO A STRONG ENDORSEMENT OF ITS TECHNOLOGICAL PATHWAYS AND DEVELOPMENT PROSPECTS.

2. Leading technical strength

OKLO's core technical expertise is in other advanced Liquid Metal Cooling Rapid Design:

Fast stack advantage: Liquid sodium-cooled rapid stack technology significantly improves nuclear fuel utilization efficiency and significantly reduces the generation of long-half-life nuclear waste compared to conventional hydraulic stacks. In theory, it could convert nuclear waste generated by conventional nuclear power plants into fuel, achieving a “circular economy” of nuclear fuel.

Advanced Fuels: Using high-precision low-condensing fuel (HALEU, 5%-20%), the option of displaying ~5% condensing fuel used in the current primary reverberation application can greatly increase the running efficiency of advanced recoil applications.

Safety design: Ultra-light and dynamic station design is unique, can be operated underground, using physical laws (such as gravity and natural circulation for real passive cooling. When used in extreme electrical work, the reverberation system can automatically stop and maintain a safe state, and the whole process is not required.

This innovative small modular design opens up a highly imaginative business model space for OKLO. OKLO plans to submit the first phase of the Aurora Power Station joint permit application beginning in the fourth quarter and expects to start pre-construction activities in the third quarter. The company aims to achieve the commercialization of its first nuclear power plant by the end of 2027 or early 2028.

3. Positive progress of commercialization cooperation

OKLO HAS MADE SEVERAL KEY ADVANCES IN PROMOTING COMMERCIALIZATION:

Government support: The recent approval of three nuclear pilot projects by the US Department of Energy will accelerate the development and commercialization of its nuclear technology. The opportunity stems from an executive order Trump signed in May 2025 to streamline and modernize the nuclear licensing and demonstration process.

Industry Chain Collaboration: A strategic partnership with Lightbridge will assess the feasibility of commercial-grade model fuel fabrication at an advanced fuel manufacturing facility built at OKLO, based on the early 2025 backup record, to enhance the feasibility of commercial-grade model fuel fabrication.

In addition, the company has previously reached agreements with data center operators such as Switch to explore energy solutions.

It is worth noting that OKLO is currently in the product development phase and has no business income. It lost $0.18 per share in the second quarter, surpassing market expectations. However, with equity financing completed in the second quarter, up to Q2, corporate cash and like surcharges of US$0.683 billion, further supporting development and project construction needs for years to come.

LEU—— US DOMESTIC LEU, HALEU CORE SUPPLIER

$Centrus Energy(LEU.US)$ It is the only company in the United States that can provide government with low concentration and high concentration. The Company operates through two main Business Departments:

Low Concentration (LEU) Business (Over 80%): The core is focused on providing condensing services and fuel components to the core stations. The key competitive advantage is that it has only two U.S. compounding licenses and is a provider of National Security project services quality.

Technical Solutions Division: Focused on the development of high-abundance low-concentration uranium (HALEU) required for next-generation reactors, has now been awarded a US$0.15 billion production contract from the U.S. Department of Energy.

It is worth noting that the company is investing in the construction of the first uranium concentrate plant in the United States in nearly 70 years, with production planned for 2029. However, the company recently announced plans to non-publicly issue $0.65 billion of convertible senior notes due 2032, resulting in a recent decline in its share price, although it is still up 350% in nearly a year.

GEV — THE BEST NVIDIA IN THE POWER EQUIPMENT WORLD

$GE Vernova(GEV.US)$ It is an energy technology company affiliated with the New York Stock Exchange, the US industrial giant General Electric, which was founded in April 2024.

The Company operates Power (Fuel and Services, Wind and Wind Power, and Electrification) in three major Sectors, a polycore power supply system and a cleaning power source to power the world's communications and help decarbonize electricity.

IN THIS GEARED POWER SCOOTER, GEV HAS GONE FROM BEING THE BIG WINNER OF THE GENERAL ELECTRIC GROUP TO THE BIG WINNER IN AI, SURPASSING NVIDIA BY A STAGGERING 4X.

GE Vernova's Q2 Earnings Reports in 2025 are on track, with earnings of $1.24 trillion, well above expectations of $0.88 trillion; EPS of $1.86 billion per share, well above Analysts' expectations of $1.50. Total orders grew 12% year-on-year to US$12.4 billion, reflecting strong demand growth in other areas such as power generation equipment, services and grid infrastructure facilities.

Volumetric Orders are the Core Indicators of the Value of Power Shares in Research and are the Key Trend Indicators for Capital Markets. For the second quarter, GE Vernova volume orders amounted to $128.7 billion, about three percent of its revenue in 2024, which means that the company's life base has been depleted for less than three years.

In addition, GEV has a related deployment in Small Modular Reactors (SMRs), and the company is expected to deploy its BWRX-300 reactor in Ontario, Canada in May this year. According to the company, this will be the first SMR in the Western world to be formally invested in the construction and deployment process.

GE Vernova CEO expects more customers to apply for SMR designs using the company's core technology by the end of this year. We pointed out that our customers, such as data centers and compute chips, are investing extremely high in GE Vernova's SMR, and we are willing to pay the price for high-performance power sources that emit carbon.

The AI wave has injected a new impetus into the GEV electrification sector. The expansion of data centers is not only driven by the need for power generation, but also a huge market for stable, efficient transmission and distribution networks.

In the second quarter, the electrification sector performed brilliantly as the core engine of growth: revenue climbed to $2.2 billion and EBITDA nearly doubled to 14.6%.

Notably, orders for gas generation equipment increased to 55 kW, fully establishing GEV as a leader in the field of enabling AI economy energy.

GE Vernova's post-five-year growth in consolidated profit growth will reach a staggering 70%, capped by strong profit growth in GE Vernova over the next five years due to energy demand associated with AI data centers and a longer equipment trading cycle, from UBS Group Analyst Amit Mehrotra forecast in a report. The highest estimate among globally listed companies.

However, the current high price of GEV also carries a certain amount of valuation risk.

As we look forward to technology, NVIDIA is the bright star on the stage, and it is the secret champion of providing the foundation of computing and key resources, with the same value for investors!