【有獎】3分鐘！解析2025最有潛力公司！
The overlooked core competitiveness of AI? Nuclear power stocks CEG have risen more than 40% this year, and Daiwa Securities predicts a nuclear energy revival in 2025.
After entering 2025, US nuclear power stocks have once again ushered in a rising market, among whichConstellation Energy (CEG.US)Yesterday's closing rose nearly 5%, up nearly 41% year-to-date;Vistra Energy (VST.US)Yesterday's closing rose nearly 3%, up over 26% year-to-date.
Technology giants are competing to invest in nuclear power, making it the most eye-catching event in the global nuclear power industry since 2024. China International Capital Corporation believes that the accelerated layout of technology giants in the nuclear power field is a major catalyst worth paying attention to on the future demand side, representing the realization of the potential demand for AI in nuclear power.
AI development is driving the continuous growth of the nuclear power industry.
From the perspective of traditional utilities, the global nuclear power revival trend is gradually becoming clear, with the IAEA predicting that global nuclear power installed capacity will reach 543GW by 2035, corresponding to a CAGR of 2.9% from 2024 to 2035. Traditional demand still has further room for accelerated growth in the future, but tends to serve as the foundation for demand growth. China International Capital Corporation points out that the power demand from AI data centers will be a major driver to further open up demand growth opportunities.
Engineer Liu Yanjia from the Institute of Computing Technology of the Chinese Academy of Sciences stated that AI power consumption is mainly concentrated in model training and inference. The larger the model parameter size, the greater the computational power consumption, leading to higher electricity consumption. Taking GPT-3 as an example, its training electricity consumption is about 1280 terawatt-hours, equivalent to 1.28 million kilowatt-hours, which is roughly the electricity consumption of 6400 average Chinese households in a month. Inference is the process in which large models respond to user demands. Although the energy consumption per inference phase is lower than the training phase, due to high-frequency calls, the power consumption is also high. According to China Science Popularization Network citing the International Energy Agency's "Electricity 2024" report, by 2026, the annual electricity consumption of global data centers will reach 1.05 trillion kilowatt-hours, approximately the annual electricity consumption of the entire country of Japan.
CICC stated that fundamentally, nuclear power is one of the best solutions to address the energy bottleneck of AI. Alphabet-A (GOOGL.US) 、$amazon (AMZN.US)$、$Microsoft (MSFT.US)$As major technology giants accelerate their layout in the nuclear power sector, it is a key catalyst worth paying attention to in the future, representing the transition of expected AI nuclear power demand from anticipation to reality.
Institutions are optimistic about the future opportunities in the nuclear power sector.
JP Morgan Stanley recently outlined the top ten investment trends for 2025, with one trend being the "revival of nuclear power". JP Morgan Stanley points out that nuclear power is receiving renewed attention due to its potential in decarbonization, energy security, and support from artificial intelligence technology. JP Morgan Stanley forecasts that by 2050, the share of nuclear power in global electricity supply will increase from 12% in 2022 to 17%.
The development of Small Modular Reactors (SMRs), innovation in nuclear energy financing models, and the drive towards carbon neutrality goals will create over $1.5 trillion in investment opportunities for the nuclear energy industry.
"We believe that there are five major trends in the revival of nuclear power: COP28 goals, GenAI, financing, construction risks, and SMR."
![After entering 2025, US nuclear power stocks have once again ushered in a rising market, among which[Share Link: Constellation Energy (CEG.US)]Yesterday's closing rose nearly 5%, up nearly 41% year-to-date;[Share Link: Vistra Energy (VST.US)]Yesterday's closing rose nearly 3%, up over 26% year-to-date. Technology giants are competing to invest in nuclear power, making it the most eye-catching event in the global nuclear power industry since 2024. China International Capital Corporation believes that the accelerated layout of technology giants in the nuclear power field is a major catalyst worth paying attention to on the future demand side, representing the realization of the potential demand for AI in nuclear power. AI development is driving the continuous growth of the nuclear power industry. From the perspective of traditional utilities, the global nuclear power revival trend is gradually becoming clear, with the IAEA predicting that global nuclear power installed capacity will reach 543GW by 2035, corresponding to a CAGR of 2.9% from 2024 to 2035. Traditional demand still has further room for accelerated growth in the future, but tends to serve as the foundation for demand growth. China International Capital Corporation points out that the power demand from AI data centers will be a major driver to further open up demand growth opportunities. Engineer Liu Yanjia from the Institute of Computing Technology of the Chinese Academy of Sciences stated that the power consumption of AI is mainly concentrated in model training and inference. The larger the number of parameters, the greater the computational power consumption of large models, resulting in higher energy consumption. Taking GPT-3 as an example, its training energy consumption is about 1280 terawatt-hours, which is approximately 1...](https://nnqimage.futunn.com/sns_client_feed/900104/20250117/40ca813d63fa53bd965db2452d31d0a9.webp/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
UBS analyst William Appicelli wrote in a previous report, "In 2025, independent power companies will continue to benefit from strong demand and energy / capacity prices."
Appicelli reaffirmed his bullish view on Constellation Energy (CEG.US) 、 Vistra Energy (VST.US) and $Talen Energy (TLN.US)$ rated as 'Buy', and predicted an average increase of 29% for these stocks by 2025.
What investment opportunities are there in the US nuclear power sector?
Futu News has previously sorted out the participants in the upstream, midstream, and downstream of the industry chain for everyone's reference:
![After entering 2025, US nuclear power stocks have once again ushered in a rising market, among which[Share Link: Constellation Energy (CEG.US)]Yesterday's closing rose nearly 5%, up nearly 41% year-to-date;[Share Link: Vistra Energy (VST.US)]Yesterday's closing rose nearly 3%, up over 26% year-to-date. Technology giants are competing to invest in nuclear power, making it the most eye-catching event in the global nuclear power industry since 2024. China International Capital Corporation believes that the accelerated layout of technology giants in the nuclear power field is a major catalyst worth paying attention to on the future demand side, representing the realization of the potential demand for AI in nuclear power. AI development is driving the continuous growth of the nuclear power industry. From the perspective of traditional utilities, the global nuclear power revival trend is gradually becoming clear, with the IAEA predicting that global nuclear power installed capacity will reach 543GW by 2035, corresponding to a CAGR of 2.9% from 2024 to 2035. Traditional demand still has further room for accelerated growth in the future, but tends to serve as the foundation for demand growth. China International Capital Corporation points out that the power demand from AI data centers will be a major driver to further open up demand growth opportunities. Engineer Liu Yanjia from the Institute of Computing Technology of the Chinese Academy of Sciences stated that the power consumption of AI is mainly concentrated in model training and inference. The larger the number of parameters, the greater the computational power consumption of large models, resulting in higher energy consumption. Taking GPT-3 as an example, its training energy consumption is about 1280 terawatt-hours, which is approximately 1...](https://nnqimage.futunn.com/sns_client_feed/900104/20250117/07a64a444a5a602fd985b20d13f6d06e.webp/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
Among the above stocks, the highest increase since the beginning of the year is Constellation Energy (CEG.US) , with a 40.91% increase this year, now reported at $315.24. JP Morgan Chase recently upgraded Constellation Energy to a 'Shareholding' rating, raising the target price from $348 to $358. JP Morgan Chase is optimistic about Constellation's $29 billion acquisition of Calpine.
JP Morgan Chase stated that this significant transaction will integrate the largest nuclear power plant units in the USA with a massive natural gas business, with a total expected power generation capacity of over 60GW. Constellation's management expects that this acquisition will increase EPS by over 20% and annualized cash flow will exceed $2 billion. JP Morgan Chase believes this is an outstanding level.
The second-ranked stock is Vistra Energy (VST.US) This year's increase is 26.21%. JP Morgan Chase regards $Entergy (ETR.US)$ 、 $NiSource (NI.US)$ as well as Vistra Energy (VST.US) as its top choice for utility stocks in 2025. For Vistra Energy, JP Morgan Chase believes that the reshoring of manufacturing, electrification, and the demand for datacenters will drive up electricity prices. Vistra Energy provides the best risk/reward balance, benefiting from its natural gas assets and strategic flexibility.
The third-ranked stock is $Talen Energy (TLN.US)$ , with a 16.23% increase in performance this year. According to Reuters' report on January 8, Pioneer Navigation increased its shareholding of Talen Energy by more than 4 million shares, raising its holding from 9.9% in October to 10.41%.
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![After entering 2025, US nuclear power stocks have once again ushered in a rising market, among which[Share Link: Constellation Energy (CEG.US)]Yesterday's closing rose nearly 5%, up nearly 41% year-to-date;[Share Link: Vistra Energy (VST.US)]Yesterday's closing rose nearly 3%, up over 26% year-to-date. Technology giants are competing to invest in nuclear power, making it the most eye-catching event in the global nuclear power industry since 2024. China International Capital Corporation believes that the accelerated layout of technology giants in the nuclear power field is a major catalyst worth paying attention to on the future demand side, representing the realization of the potential demand for AI in nuclear power. AI development is driving the continuous growth of the nuclear power industry. From the perspective of traditional utilities, the global nuclear power revival trend is gradually becoming clear, with the IAEA predicting that global nuclear power installed capacity will reach 543GW by 2035, corresponding to a CAGR of 2.9% from 2024 to 2035. Traditional demand still has further room for accelerated growth in the future, but tends to serve as the foundation for demand growth. China International Capital Corporation points out that the power demand from AI data centers will be a major driver to further open up demand growth opportunities. Engineer Liu Yanjia from the Institute of Computing Technology of the Chinese Academy of Sciences stated that the power consumption of AI is mainly concentrated in model training and inference. The larger the number of parameters, the greater the computational power consumption of large models, resulting in higher energy consumption. Taking GPT-3 as an example, its training energy consumption is about 1280 terawatt-hours, which is approximately 1...](https://nnqimage.futunn.com/sns_client_feed/900104/20250117/58cf00ddc89d8fed5307005e7323cc91.webp/big?area=1&is_public=true&imageMogr2/ignore-error/1/format/webp)
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