Does Soaring AI Demand Mean You Should Buy Nuclear Energy Stocks?
Artificial intelligence (AI) is affecting sectors across the business world. Perhaps none more so than electric utilities, due to the high power needs of data centers that run AI.Stocks such as Constellation Energy have soared on this narrative shift, with shares of the utility up 634% since the start of 2022, crushing the broad market averages. Electricity for AI-fueled data centers is projected to grow by a multiple of four by 2030.In light of these projections, investors are looking at ways to play this boom in power demand, including pure-play nuclear energy stocks such as NuScale Power (NYSE: SMR) and Oklo (NYSE: OKLO). Both stocks are up more than 300% in the past 12 months due to the optimism around the growth in electricity demand worldwide.Continue reading
Artificial intelligence (AI) is affecting sectors across the business world. Perhaps none more so than electric utilities, due to the high power needs of data centers that run AI.
Stocks such as Constellation Energy have soared on this narrative shift, with shares of the utility up 634% since the start of 2022, crushing the broad market averages. Electricity for AI-fueled data centers is projected to grow by a multiple of four by 2030.
In light of these projections, investors are looking at ways to play this boom in power demand, including pure-play nuclear energy stocks such as NuScale Power (NYSE: SMR) and Oklo (NYSE: OKLO). Both stocks are up more than 300% in the past 12 months due to the optimism around the growth in electricity demand worldwide.
