NuScale Power holds the sole U.S. NRC-approved small modular reactor design but reports minimal revenue amid AI-driven clean energy demand.
NuScale Power (SMR) shares have fallen about 65% from their 2023 high, trading below $13 despite a $4.5 billion market capitalization. The company develops small modular reactors (SMRs), positioned as a scalable, cost-effective alternative to conventional nuclear plants.
NuScale is the only U.S. nuclear reactor developer with an NRC-approved SMR design, giving it a first-mover advantage. Competitors like Oklo and Bloom Energy have seen stock gains, while NuScale lags despite similar clean energy narratives tied to AI and data center demand.
Revenue remains limited, though the company argues nuclear power is critical to meeting rising electricity needs. Analysts debate whether the current valuation reflects long-term potential or execution risks.