Nuclear Energy Stocks To Watch As AI Power Demand Builds

Nuclear energy stocks are back in focus as investors look for power sources that can support growth when inflation, tariffs and energy price swings are all in play. With Brent briefly above $100 and central banks adjusting policy carefully, steady baseload electricity and secure fuel supply sit high on many agendas. The Nuclear Energy Stocks screener helps you pinpoint companies involved in uranium production, fuel enrichment and reactor operations, giving you a targeted way to research this theme. In this article, you will see 3 of the best stocks from the screener that merit closer attention for further research.

Centrus Energy (LEU)

Overview: Centrus Energy supplies nuclear fuel to utilities worldwide, focusing on low enriched uranium and related services that keep commercial reactors running. Through its LEU and Technical Solutions segments, the company provides enrichment, engineering and manufacturing capabilities across the nuclear fuel cycle.

Operations: Centrus Energy generates most of its revenue from the LEU segment at about US$358.7m, with Technical Solutions contributing around US$112.8m and the United States accounting for roughly US$301.3m of reported sales.

Market Cap: US$3.4b

Centrus Energy sits at the heart of the HALEU fuel bottleneck that advanced reactor developers such as Oklo and X-energy need to solve, and its long history in enrichment plus a US$900m Department of Energy contract give it a role that is hard to replicate. At the same time, the stock trades on a high P/E of 55.4x, recent earnings declined 43.1% year over year and profit margins have compressed from 22.6% to 13.4%. As a result, expectations are already demanding. In addition, there has been share dilution and reliance on higher risk borrowing, so this is a company with powerful thematic appeal but also financial and execution risks that investors may wish to weigh carefully before going further.

Centrus Energy sits at the center of the HALEU story, yet a 55.4x P/E and shrinking margins suggest there is more beneath the surface. Get the full picture with the 4 warning signs (1 is major!)

Oklo (OKLO)

Overview: Oklo develops compact Aurora Powerhouse nuclear plants designed to deliver between 15 and 75 megawatts of electricity under long term power contracts, rather than one off reactor sales. It is also working on recycling used nuclear fuel into fresh fuel for its own reactors, aiming to tie generation and fuel supply together in one business model.

Market Cap: US$7.7b

Oklo stands out in nuclear energy because it is aiming for long term, contracted power sales to customers such as AI data centers, supported by agreements like the 12 GW deal with Switch through to 2044, rather than relying on one off reactor projects. The company has a large cash and marketable securities position reported in the narrative, regulatory momentum with US Nuclear Regulatory Commission approval of its Principal Design Criteria, and US Department of Energy support through the Groves Isotope Test Reactor program. However, revenue is currently negligible, Oklo reported a US$33m net loss, its stock has been volatile and there are real execution and regulatory risks that investors need to weigh against the potential upside of early entry into this niche.

Oklo’s effort to link long-term AI power contracts to its own fuel cycle is bold, but the more important details are in the fine print. Read the analysis report for Oklo

GE Vernova (GEV)

Overview: GE Vernova is an energy infrastructure company that supplies equipment and services for generating, transmitting, and managing electricity, spanning gas and nuclear power plants, wind turbines, and grid and storage solutions across major global regions.

Market Cap: US$262.3b

Investors looking at nuclear and grid infrastructure may consider GE Vernova because it sits at the center of rising electricity demand from AI data centers, electrification, and grid upgrades. This positioning is backed by a reported US$176b backlog and a large installed base of roughly 7,000 gas turbines that feed high margin service revenue. Earnings growth has been very strong recently, supported by improving margins and sizeable free cash flow, but also by one off gains that may not repeat and a Wind segment that continues to weigh on results. The stock also carries valuation risk and a less seasoned board, alongside strong insider selling. The key question is whether the Power and Electrification businesses can generate cash flows at a pace sufficient to offset these pressure points.

GE Vernova’s substantial US$176b backlog and service-heavy installed base suggest a story investors may not be fully pricing in, particularly in light of the Wind and governance concerns. Get the fuller context with the 4 key rewards and 2 important warning signs

The three nuclear energy stocks in this article are only a starting point, with the full screener surfacing 32 more companies tied into uranium supply, enrichment, and reactor operations that could have equally compelling narratives. Identify the catalysts that matter most to you and analyze nuclear energy opportunities by filtering for fuel security, long term contracts, and infrastructure exposure across the Nuclear Energy Stocks screener.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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