Nuclear Power’s $10T Boom: How SMRs & AI Are Fueling a Global Energy Revolution – ( $SMR $OKLO )

By John F. Heerdink, Jr.

Nuclear power is experiencing a global renaissance, rapidly transforming both market sentiment and energy infrastructure as it claims a central role in addressing the world’s surging electricity needs. Policymakers, investors, and tech giants alike now recognize atomic energy as a strategic asset, with projections placing the industry’s growth at a potential $10T by 2050—a staggering opportunity propelled by a historic shift toward electrification, AI-driven data centers, and ambitious net zero targets.

A Record-Breaking Year for Nuclear Generation

2024 marked a milestone as nuclear reactors supplied more electricity than ever before, generating 2,667 TWh globally and helping avert 2.1 billion tonnes of carbon emissions—sufficient to offset the aviation industry’s footprint nearly twice over. High reliability remains a hallmark, with global fleet average capacity factors topping 83%. Most of the sector’s momentum has been fueled by Asian markets, where 56 out of 68 new reactors built in the past decade were commissioned.

Small Modular Reactors Lead Innovation

Small Modular Reactors (SMRs) are at the forefront of industry disruption, promising flexible deployment, enhanced safety, and the ability to power remote or industrial sites while integrating with renewables. Over 80 diverse SMR designs are under development in 2025, with NuScale Power (NYSE: SMR) leading the U.S. market after securing Nuclear Regulatory Commission certification for its 77 MW module—a first among American firms. If all goes as planned, NuScale projects its reactors will be commercially available by 2030.

Data Centers and Tech Demand Redefine the Narrative

The explosive growth of data centers, powered by artificial intelligence, has unlocked a new chapter for nuclear power. High-profile deals have seen Amazon, Google, Microsoft, Meta, and Switch align with nuclear developers to secure reliable, clean energy for their energy-hungry facilities. Oklo (NYSE: OKLO), a startup formerly chaired by OpenAI’s Sam Altman, is vying to deliver its innovative reactors by 2027, rapidly advancing contracts and international licensing agreements. Switch, for example, is collaborating directly with Oklo for dedicated data center power.

Stock Market Performance: Spotlight on NuScale and Oklo

Investors have taken notice. NuScale’s regulatory breakthroughs have ignited remarkable gains, with shares up over 160% year-to-date as of September 2025 and trading in the mid-$30s. Analyst price targets reflect optimism but also highlight the inherent risks and challenges of scaling commercial deployment. Oklo’s stock has surged as well, jumping 63% in a single week to $135.23 and drawing bullish attention for aggressive pipeline goals and deal wins, even as some caution around valuations and technological risk persists. Both companies have become bellwethers for the trillion-dollar nuclear renaissance that investors hope will reshape the energy landscape.

The Global Outlook and Future Drivers

The sector’s prospects are buoyed by a robust financing environment and supportive regulatory shifts, including expanded government indemnification frameworks and aggressive climate mandates. The International Atomic Energy Agency now forecasts nuclear operating capacity could more than double by 2050, with SMRs expected to deliver nearly a quarter of added generation in the most optimistic scenarios. Advanced fuels, recycling technology, and digital controls are accelerating the push for safer, more efficient, and scalable plants globally.

The Sum…

After decades of uncertainty, nuclear power stands on the cusp of fulfilling its promise as a powerful solution to the world’s power deficits and climate commitments. Driven by technological innovation, demand from Big Tech, and bold investments, the industry is positioned to deliver not just resilient electricity but a foundation for the digital economy—making this new atomic age one to watch for investors and policymakers alike.