Nuclear and power stocks climb as U.S. boosts fuel funding

Investing.com -- Nuclear and power-related stocks gained on Tuesday after the U.S. government moved to expand domestic nuclear fuel production and as renewed enthusiasm around artificial intelligence increased investor interest in companies supplying power to data centres.

Oklo rose 2.9% and Vistra gained 5.7%.

The rally followed fresh momentum from Monday, when Centrus Energy surged after securing $900 million in federal support to restart U.S. nuclear fuel output.

The award is said to be part of a broader initiative to reduce reliance on enriched Russian uranium, with the Energy Department backing three companies in total.

According to Bloomberg, the funding for Centrus will support production of next-generation reactor fuel. The government also awarded $900 million each to General Matter, an advanced enrichment startup backed by Peter Thiel, and to a subsidiary of Orano SA, which plans to build an enrichment facility in Tennessee.

Shares of Centrus jumped 10.2% on Monday as investors reacted to the substantial federal backing for its role in rebuilding the domestic nuclear supply chain.

Tuesday’s gains extended the theme, with nuclear developers and power producers seen as beneficiaries of both the new funding and the accelerating build-out of energy-intensive AI infrastructure.

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