NuScale Power’s stock declines sharply as commercial small modular reactor projects face delays despite AI-driven electricity demand growth.
NuScale Power (SMR) has seen its stock drop 40% in 2026, reflecting investor frustration over stalled commercial deployment of its small modular reactor (SMR) technology. Despite being the first U.S. company to receive NRC approval for an SMR design in 2020, NuScale has yet to operationalize a commercial model, even as electricity demand from AI and data centers rises.
The company’s current focus remains on two key projects: a plant in Romania and a 6-gigawatt (GW) deployment for the Tennessee Valley Authority (TVA). Analysts suggest a bullish scenario could see partner ENTRA1 Energy securing data center clients, potentially validating NuScale’s technology and unlocking further U.S. deployments. However, revenue from these projects remains years away.
Market sentiment has soured as delays persist, with no immediate timeline for the first SMR to come online. The stock’s decline underscores broader skepticism about the pace of SMR adoption in the energy sector.