Small Modular Reactor Stocks Bounce as NuScale and Oklo Stage Sharp Single-Day Gains

Shares of advanced nuclear developers NuScale Power (SMR) and Oklo (OKLO) moved notably higher in Tuesday trading, with NuScale jumping 15.5% to $11.18 and Oklo adding 5.07% to close at $43.31. The rebound follows a stretch of selling pressure across the small modular reactor, or SMR, sector.

NuScale, which in 2023 became the first company to receive U.S. Nuclear Regulatory Commission design approval for an SMR, now carries a market capitalization of roughly $4.59 billion. Its power module design is intended to offer scalable, factory-built reactors that can be assembled more quickly than traditional large-scale nuclear plants.

Oklo, meanwhile, values at approximately $8.06 billion. The company is developing fast reactors designed to run on recycled nuclear fuel, targeting data centers and other large electricity customers seeking around-the-clock, carbon-free power.

Investor interest in next-generation nuclear has risen alongside surging electricity demand from artificial intelligence data centers, with several major technology companies publicly exploring nuclear power purchase agreements to meet their energy needs. At the same time, the sector remains early-stage: most SMR developers have yet to generate meaningful revenue, and commercial operations for many projects remain years away, factors that have contributed to elevated share-price volatility.

Tuesday’s gains, while sharp, reflect that volatility in both directions. NuScale’s move from a prior close of $9.68 to $11.18 marks one of its larger single-day swings of the year, and Oklo’s advance continues a pattern of outsized daily moves for a company whose first commercial reactor has not yet entered service.

Neither company announced new business developments in connection with Tuesday’s trading. The broader advanced nuclear group has been sensitive to sector-wide news flow, including federal funding announcements, regulatory milestones, and corporate power deals.

What to watch

• NuScale’s upcoming quarterly earnings report and any updates on deployment timelines with customers such as RoPower in Romania.
• Oklo’s progress on regulatory engagement with the Nuclear Regulatory Commission for its Aurora reactor and updates on its first planned commercial deployment in Idaho.
• Further announcements of nuclear power agreements from data center operators and hyperscalers.
• Any new guidance from either company regarding cash runway and capital needs ahead of commercial operations.

Source: original release