Under the AI boom, the demand for electrical utilities has surged, and nuclear energy has become a focus again as a cleaner and more efficient energy source.
The recent surge in the market was directly driven by the announcements last week from Amazon and Google regarding their investments in small modular reactors, leading to the deployment of the first batch of SMRs in the USA. As a result, many US nuclear energy stocks skyrocketed, hitting record highs.
Among them, the stock prices of SMR developers Oklo Inc and NuScale Power have risen by 99% and 37% respectively in the past week. Additionally, stocks of companies such as Cameco, Oklo, NuScale, Constellation, and BWX Technologies have all hit historic highs.
ETFs tracking uranium miners and nuclear energy stocks have also surged. In October, the VanEck Uranium and Nuclear ETF and the Global X Uranium ETF rose by 15.7% and 17% respectively, aiming to achieve the best monthly performance in years.
However, as a heavy metal widely used in nuclear power generation, the price of uranium has remained relatively calm, rising only 2.7% since October to $83.95 per pound. Earlier this year, the price of uranium skyrocketed to a high of $106.40 per pound, the highest level since 2007, before entering a months-long correction.
Analysts believe that the reduction in uranium supply may support future price increases. The world's largest uranium miner, Kazatomprom, announced in August...