Shares in nuclear energy companies surged to record highs this week after Amazon and Google struck landmark power supply deals, boosting efforts to deploy the first small modular reactors (SMRs) in the US.
The share prices of US-listed SMR developers Oklo Inc and NuScale power rose by 99 per cent and 37 per cent respectively in the past week, after rivals X-energy and Kairos Power, two private SMR developers, announced the financing agreements. Shares in Cameco, Oklo, NuScale, Constellation and BWX Technologies all traded at record highs over the week.
The deals support the deployment of up to a dozen next-generation reactors to provide low-carbon electricity to power Amazon and Google’s energy-hungry artificial intelligence data centres.
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