Shares tied to nuclear fuel and next-generation nuclear energy surged Monday, with little company-specific news and a lot of geopolitics doing the heavy lifting. The backdrop is rising global uncertainty following President Trump’s intervention in Venezuela, which appears to be pushing investors toward energy security trades.
Small nuclear reactor plays lead the move
Several companies developing small modular reactors posted double-digit gains, despite their technologies still being unproven and not fully approved. NuScale $SMR ( ▲ 1.64% ) jumped 18%, Oklo $OKLO ( ▲ 3.96% ) rose nearly 16%, and Nano Nuclear $NNE ( ▲ 0.25% ) climbed more than 13%. These companies are pitching SMRs as the future of nuclear power, offering smaller, potentially faster-to-deploy reactors compared with traditional plants.
Nuclear fuel suppliers rally alongside
Fuel and materials stocks also moved sharply higher. Lightbridge $LTBR ( ▲ 1.41% ) , Critical Metals $CRML ( ▲ 7.03% ) , Centrus Energy $LEU ( ▲ 2.13% ) , and Energy Fuels $UUUU ( ▲ 0.71% ) all posted strong gains, reflecting growing concern about access to uranium and other critical inputs.
With no major company announcements, the move appears tied to macro risk. The detention of Nicolás Maduro could complicate existing arrangements between the US and China, a key Venezuelan ally, around access to strategic resources. Any disruption to rare earth or uranium supply chains would likely tighten markets and push prices higher.
Energy security meets the AI power crunch
Higher nuclear fuel prices and tighter supply would increase the appeal of domestic producers and alternative reactor technologies. That dynamic could also raise the odds of deeper US government involvement in critical materials, similar to past moves to support domestic uranium production.
All of this is happening against a backdrop that was already bullish for nuclear. Rapidly rising electricity demand from AI data centers has strengthened the long-term case for nuclear power, and Monday’s geopolitical shock appears to have poured more fuel on that theme.