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    Can NuScale Power (SMR) Justify Its Valuation Following Its Nuclear AI Partnership?

    Simply Wall St·08/31/2026 10:20:24
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    NuScale Power’s AI partnership and why it matters for the stock

    NuScale Power (SMR) is drawing attention after announcing a partnership with Nuclearn and NPX to roll out nuclear specific AI tools that aim to streamline engineering, knowledge management, and regulatory workflows.

    Despite this AI partnership, NuScale Power’s share price has been under pressure, with a 30 day share price return of 10.33% but a 90 day share price decline of 33.41% and a year to date share price decline of 43.04%. Recent headlines around potential equity issuance, slow commercialization and sector sentiment help explain why short term momentum has been weak, even though the three year total shareholder return of 48.40% and five year total shareholder return of 3.57% point to a mixed longer term picture.

    Spot 92 nuclear energy infrastructure stocks that, like NuScale Power, are tied to the nuclear energy build out and could benefit as interest grows in cleaner baseload power solutions.

    After a sharp pullback and a small recent rebound, NuScale Power now sits between investors who see fresh upside from AI supported execution and those who think the best of the story is already priced in. The valuation section addresses that tension next.

    Most Popular Narrative: 90.7% Undervalued

    NuScale Power last closed at $9.29, while the most followed narrative on the stock assigns a fair value of $100. That gap is what supporters are focused on.

    Its my fudemental belief that retail has strayed from real long-term value, and towards a perverse sentiment rooted purely in numbers. The market looked at NuScale's 2023 project cancellation and saw a failed company. That's the wrong frame. What actually happened is that a first-of-kind technology encountered the first regulatory hurdle and cost discovery, which is not a verdict on the technology, it is the expected friction of building something that has never been built at commercial scale before.

    Read the complete narrative.

    The narrative from Delphic leans heavily on rapid revenue expansion, improving margins and a future earnings multiple more often linked with established growth leaders. Curious which assumptions support a triple digit fair value for NuScale Power and how that stacks up against today’s single digit share price.

    Result: Fair Value of $100 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, NuScale Power still faces real pressure if commercialization timelines slip further, or if heavy net losses and any future equity raises dilute shareholder value.

    Find out about the key risks to this NuScale Power narrative.

    Next Steps

    Given the mixed sentiment around NuScale Power in this article, it makes sense to review the key data points yourself and form your own view based on the 1 key reward and 3 important warning signs.

    Looking for more investment ideas beyond NuScale Power?

    If NuScale Power has caught your attention, do not stop there. Use the Simply Wall Street Screener to spot other stocks that could fit your strategy.

    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.