New York, June 2, 2026, 13:07 (EDT)
- NuScale shares were up around 8.6% to nearly $14.00 in Tuesday’s U.S. trading.
- Management appeared on the schedule for investor events on June 2, like RBC’s energy and infrastructure conference in New York.
- The rally is tied to a large reactor pipeline, though near-term revenue is still light.
NuScale Power shares climbed 8.6% to $14.00 in early afternoon trading Tuesday. Investors were buying nuclear tech stocks again as power demand from data centers and AI stays in focus. NuScale opened at $12.75 and hit $14.30 at the session high. Volume topped 41 million shares. The company’s market value was close to $4.48 billion.
NuScale’s move drew attention since it happened in a normal U.S. session and there wasn’t a new contract disclosure from the company. NuScale’s investor calendar showed management scheduled for the UBS Cleanpower Expo and RBC Capital Markets’ Global Energy, Power & Infrastructure Conference in New York on June 2. Its press-release page listed the last update as the May 7 first-quarter release.
NuScale gives investors a public-market angle on small modular reactors, or SMRs—smaller nuclear reactors that use standardized designs and can be combined to form power plants. Reuters says the company offers advanced SMR technology with its NuScale Power Module, each producing around 77 megawatts of electricity. Plants can be built with up to 12 modules.
The moves weren’t limited to one name. Oklo jumped 9.4%, Nano Nuclear Energy picked up 4.6% and Constellation Energy—the nuclear plant operator—was up 3.2%. The SPDR S&P 500 ETF posted a 0.2% gain and the Invesco QQQ Trust was 0.4% higher.
Regulation is baked into the deal. Reuters Events said last week the U.S. Nuclear Regulatory Commission is making changes to quicken reviews for SMR and microreactor projects. Adam Stein, who leads nuclear innovation at the Breakthrough Institute, told Reuters the Part 53 process “could completely change how we license reactors.” Reuters
NuScale has a key advantage in the race. The NRC signed off on its 77-megawatt reactor design in May 2025. At that time, NuScale President and CEO John Hopkins called the technology “near-term deployable” and said the timing for a project was “in the customer’s hands.” Reuters
TVA and ENTRA1 Energy are still at the center of the commercial push. NuScale and ENTRA1 are pitching a plan with TVA that could see up to 6 gigawatts of new nuclear rolled out in TVA’s seven-state region. That’s six ENTRA1 sites, 12 NuScale units each. One gigawatt is 1,000 megawatts. The target customers are AI data centers, chip factories, and other heavy energy buyers.
Hopkins pushed that message in NuScale’s May earnings update. The company closed Q1 with $1.0 billion in cash, equivalents and investments, expanded its Framatome supply-chain deal and gave an update on the TVA program. “We are building the infrastructure that this pivotal moment requires,” he said. NuScale Power
The risks for NuScale are clear. The company posted just $565,000 in first-quarter revenue against a net loss of $46.7 million. In its filing, it flagged the lack of binding customer contracts, possible manufacturing delays, questions on cost, partner reliance, and more funding needs. NuScale still had around $962 million left on its at-the-market stock offering, which allows it to sell shares over time and could dilute current shareholders if tapped in a big way.
The next focus isn’t Tuesday’s price move but whether proof shows up. “First-of-a-kind projects are being carefully watched” since utilities have to show ratepayers the cost makes sense, S&P Global Commodity Insights nuclear power analyst Mason Lester told Reuters Events. Reuters
NuScale is still a mixed trade for the market. The company has a well-known U.S. SMR platform but has yet to land the kind of binding power-purchase agreement that would turn its project pipeline into revenue. Shares jumped Tuesday, signaling there is still interest in the nuclear-AI trade. But the move did not answer questions around execution.
