Oklo and NuScale shares fall over 27% year-to-date as sector cools from 2025 highs amid timeline reassessments.
Nuclear energy stocks have declined in the first half of 2026, reversing gains from a strong 2025. Oklo (OKLO) and NuScale Power (SMR) are down 27% and 30% year-to-date, respectively, while Cameco (CCJ) is up 7% but 27% below its February peak.
The sector surged last year on AI data center demand, energy independence policies, and global support for nuclear as a clean baseload source. However, investors are now reevaluating the timeline for nuclear’s broader impact, cooling enthusiasm.
Despite short-term volatility, long-term tailwinds remain, including rising energy needs and nuclear’s role in decarbonization. Cameco’s uranium business continues to benefit from these trends, though its stock has also faced pressure.