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Nuclear stocks rallied Wednesday after the U.S. Army launched a program to deploy small reactors.
Shares of NuScale, a small reactor developer, soared 17%. Oklo and Nano Nuclear were up nearly 7% and 4%, resepectively. The uranium company Centrus was up 13%.
The U.S. Army on Tuesday launched a program to build micro nuclear reactors in partnership with the Defense Innovation Unit. The microreactors will be commercially owned and operated with the goal of helping developers scale up their businesses, according to the Army.
The Army launched the “Janus Program” in response to President Donald Trump’s May executive orders that aim to speed the deployment of advanced reactors. Trump ordered the Defense Department to have a reactor operating at a domestic military installation no later than Sept. 30, 2028.
Investors have speculated heavily on the fortunes of NuScale, Oklo and Nano Nuclear despite the fact that none of the companies have deployed a reactor yet. Oklo and Nano Nuclear have not generated any revenue yet. NuScale posted $8 million in revenue in the second quarter.
Oklo (OKLO), 1 year
AI power demand and Trump’s executive orders have fuelled a wave of market enthusiasm about nuclear power. Goldman Sachs recently told investors to exercise caution on Oklo.