Nuclear Stocks in the Spotlight After Policy Reforms
In May 2025, President Donald Trump signed a series of executive orders aimed at igniting an “American nuclear renaissance.” A central directive focused on reforming the Nuclear Regulatory Commission (NRC) to accelerate approvals and cut bureaucratic delays.
The administration set a bold goal: to quadruple U.S. nuclear power capacity from around 100 GW to 400 GW by 2050. To achieve this, the orders call for rebuilding the domestic nuclear fuel cycle and expediting new reactor projects. One major change requires the NRC to decide on new reactor license applications within 18 months, replacing the previous open-ended process.
The NRC has also been directed to update decades-old regulations—streamlining environmental reviews and modernizing outdated radiation safety models—to promote safe and abundant nuclear energy without overemphasizing remote risks.
The broader plan includes reviving uranium mining and enrichment in the U.S., as well as deploying next-generation reactors, all part of a strategy to re-establish American leadership in nuclear technology.
Investors responded swiftly. Nuclear-related stocks from small modular reactors to uranium producers and utility companies soared after the announcement, anticipating reduced regulatory hurdles and new demand for U.S. reactors. The policy changes create opportunities across the entire nuclear value chain. Below we review the key companies and sectors positioned to benefit from these reforms.
Small Modular & Micro Reactors
Small Modular Reactors (SMRs) and microreactors offer compact, cost-effective alternatives to traditional nuclear plants, with faster deployment timelines. The new executive orders explicitly support these technologies by directing the NRC to implement a high-volume, standardized licensing process—cutting through the case-by-case delays that previously slowed innovation. The goal is to help enable at least 10 new reactors by 2030, many of which could be used to power AI data centers and federal facilities.
- NuScale Power ($SMR): A pioneer in SMR tech, NuScale’s 77 MWe VOYGR design is the first SMR approved by the NRC. The new policy accelerates its path to build more units and may unlock federal support for deployment. Backed by Fluor Corp, NuScale is targeting late-2020s deployment. Its stock rose 19% after the announcement.
- Oklo Inc. ($OKLO): This microreactor startup, backed by Sam Altman, is developing a 1.5 MW fast reactor. After an earlier license denial, Oklo is preparing a new application for a 75 MW reactor under the reformed process. It aims to power data centers by 2027–28 and has signed tentative agreements for 14 GW of future deployments. Shares jumped 23% following the policy news.
- Nano Nuclear Energy ($NNE): A small, pre-revenue developer of mobile microreactors. The company saw its stock surge 30%—the highest in the sector—as investors bet on pilot projects on federal land and in remote areas under the DOE’s new initiatives.
Overall, the NRC reforms and pro-nuclear agenda significantly improve the regulatory landscape for next-gen reactors, potentially cutting years off development timelines and lowering project risks.
Uranium Producers
The executive actions also reinvigorate domestic uranium mining, aiming to reduce America’s 99% reliance on imported uranium (much of it from Russia and its allies). One order, “Reinvigorating the Nuclear Industrial Base,” calls for rapidly expanding uranium mining, conversion, and enrichment capacity in the U.S. within 120 days. It even authorizes a new national uranium reserve (via a 20-ton HALEU fuel bank for advanced reactors) to ensure supply. This policy shift is a boon for uranium companies:
- Uranium Energy Corp ($UEC): A U.S.-focused uranium miner with operations in Texas and Wyoming. UEC is poised to supply domestic reactors if demand rises. The prospect of government support (such as purchasing uranium for strategic stockpiles or easing permits) sent its stock up 25%.
- Energy Fuels ($UUUU): Owner of the only operating conventional uranium mill in the U.S. (White Mesa, Utah), Energy Fuels is a key player in domestic uranium and vanadium production. It also began processing rare earth elements, diversifying its portfolio. The company’s shares rose 20% on the policy news. Energy Fuels stands to gain from compressed environmental reviews and fast-track approvals. In fact, just days after the orders, the Interior Department announced the first uranium mine approved under the new fast-track process: Anfield Energy’s Velvet-Wood project in Utah was greenlit after only a 14-day review – a dramatic cut from the years such permits usually take. This precedent suggests Energy Fuels’ own projects (and its ability to toll-mill others’ ore at White Mesa) could advance much faster than before.
- Cameco Corp ($CCJ): One of the world’s largest uranium producers (based in Canada, but NYSE-listed). Its stock gained about 11% as higher uranium demand and prices are anticipated. Cameco could indirectly benefit from U.S. initiatives (e.g. selling more uranium into U.S. contracts). Notably, Cameco owns a stake in the U.S. uranium fuel cycle via its partnership in the only American uranium conversion facility (ConverDyn in Illinois, slated for restart) and its recent joint venture to acquire Westinghouse’s nuclear services business. These positions align well with U.S. goals to domesticate the fuel cycle.
- NexGen Energy ($NXE): A Canadian developer of a major high-grade uranium project (not yet producing). Its nearly 14.5% stock bump indicates investor optimism that a pro-nuclear climate (and potentially higher uranium prices) will make new mines like NexGen’s viable. While its flagship project is in Canada, a stronger market incentivizes North American uranium development generally.
Nuclear Fuel Technology
Restarting reactors isn’t just about mining uranium—it also requires fuel enrichment and innovation. A key part of Trump’s policy is rebuilding the full U.S. nuclear fuel cycle, especially for advanced reactors that need high-assay low-enriched uranium (HALEU). The Department of Energy (DOE) has been ordered to release 20 metric tons of HALEU from stockpiles and expand domestic enrichment capacity within 120 days.
- Centrus Energy ($LEU): The only U.S. company currently licensed to produce HALEU. It recently delivered the first U.S.-made HALEU under a DOE contract and is scaling production. The policy could fast-track its full-scale plant and bring more government support. Shares rose 21.6% after the announcement.
- Lightbridge Corp ($LTBR): Developing next-gen metallic nuclear fuel to boost reactor efficiency and safety. While still in R&D, Lightbridge may benefit from DOE’s push to explore advanced fuel recycling. Its stock jumped 42.6% on the news.
- Other Fuel Players: The policy strongly favors U.S. enrichment over foreign suppliers. Companies like BWXT, which produces specialized fuels like TRISO pebbles, also stand to gain from faster licensing and halted plans to dispose of excess plutonium—now redirected for fuel use.
In summary, the new policy revives U.S. fuel production after decades of decline. By accelerating enrichment, supporting HALEU supply, and enabling fuel innovation, it gives niche fuel firms a clearer path to market and long-term relevance in the nuclear buildout.
Nuclear Power Operators
Utilities running nuclear plants stand to benefit from Trump’s pro-nuclear policy. The new rules streamline license renewals, support power uprates at existing reactors and encourage building 10 new large reactors and 5 GW of uprates by 2030. While utility stock gains were modest, the policy strengthens long-term growth prospects.
- Constellation Energy ($CEG): The largest U.S. nuclear operator (21 reactors). Constellation could benefit from quicker approvals for uprates and new reactor projects—especially at data center-adjacent sites. CEO Joe Dominguez praised the reforms and emphasized the need to cut permitting delays. Post-policy, the company is better positioned to extend reactor lifespans and consider SMRs at retired fossil fuel sites. Shares rose 2%.
- Vistra Corp ($VST): Owner of Comanche Peak in Texas, Vistra uses nuclear for baseload and has backed advanced designs like TerraPower’s Natrium. It may now pursue SMRs to replace coal plants. Regulatory streamlining and potential DOE support improve the outlook for expanding its nuclear footprint. Stock rose 2.2%.
- Other Operators: Companies like Duke Energy, Southern Company, and NextEra Energy also benefit relaxed rules. Southern’s Vogtle-3 and -4 projects—now online—could spark more interest in new builds. The policy also enables faster licensing for reactors already tested by DOE or the military, making deployment of SMRs at utility sites more viable.
In short, nuclear utilities now face fewer regulatory roadblocks and stronger federal backing, opening the door for plant life extensions, uprates, and new builds—especially small modular reactors at former coal sites.
Industrial Base: Services, Equipment & Engineering
A crucial yet often-overlooked segment of the U.S. nuclear ecosystem is the network of companies that provide engineering, construction, fuel fabrication, and reactor components — including BWX Technologies ($BWXT), Fluor Corporation ($FLR), Jacobs Engineering ($J), AECOM ($ACM), Curtiss-Wright ($CW), and Emerson ($EMR). Trump’s executive orders are expected to catalyze a new wave of nuclear projects — from building large and small reactors to modernizing fuel cycle facilities — directly benefiting these industrial enablers.
The table below highlights the one-day surge in share prices of key companies across the sector:
This article is for informational purposes only and is neither investment advice nor a solicitation to buy or sell securities. All investment involves inherent risks, including the total loss of principal, and past performance is not a guarantee of future results. Always conduct thorough research or consult with a financial expert before making any investment decisions. BBAE has no position in any investment mentioned.
