New York, May 29, 2026, 14:07 EDT
NuScale Power Corp shares jumped 5.3% to $12.83 in early Friday afternoon trade, outperforming the main U.S. indexes. The stock reached $13.09, with volume at roughly 29.5 million shares. That put the small reactor company’s market cap close to $4.1 billion.
NuScale appeared at a pair of conferences this week as investor events stacked up. The company was listed at Bank of America’s Power, Utilities and Cleantech Conference in New York on Wednesday and at Craig-Hallum’s Institutional Investor Conference in Minneapolis on Thursday.
NuScale’s annual meeting starts at 4:30 p.m. EDT, just hours after the news. Investors plan to vote on the board, executive compensation and keeping Ernst & Young as auditor, according to the proxy.
The trade here is mostly about timing. Reuters said this week the U.S. Nuclear Regulatory Commission is starting reforms to try to speed up approvals for small modular reactors, or SMRs. These are smaller nuclear units built in modules on site. Rita Baranwal, Radiant Nuclear’s chief nuclear officer, told Reuters the new process may let regulators “focus on what is new.” Reuters
NuScale’s focus now is on turning its project backlog into signed deals, not on running plants. The company said this month that ENTRA1 Energy, its exclusive global strategic partner, is still working with Tennessee Valley Authority to plan as much as 6 GW of NuScale SMR capacity. That could be the biggest nuclear deployment in U.S. history. CEO John Hopkins said NuScale finished the first quarter with $1 billion in liquidity and was “building the infrastructure that this pivotal moment requires.” NuScale Power
Investors are waiting to see if ENTRA1 and TVA strike a power purchase agreement, or PPA. On the May 7 earnings call, Chief Financial Officer Ramsey Hamady said NuScale was “hopeful that TVA can come across the line at some point later this year.” Hamady said a PPA could let the company start site-specific work ahead of any bigger equipment contract.
NuScale is leaning on its regulatory position. The company said last year the NRC cleared its uprated 77 MWe design—77 megawatts electric per module—and says it is still the only SMR tech player with an NRC-approved model.
Other advanced nuclear stocks also traded higher, but moves were smaller. Oklo was up 0.8%, Nano Nuclear Energy added 1.3%. Reuters said Wednesday that Newcleo, a nuclear company, aims to list on Nasdaq with a $2.4 billion valuation. Newcleo will work with Oklo on a U.S. Department of Energy project examining whether surplus Cold War plutonium can be used as fuel.
NuScale’s stock may still move on contract timing, not just on its policy terms. The company’s latest 10-Q showed it had a $776.9 million accumulated deficit, ongoing operating losses, and negative cash flow. NuScale also reported an at-the-market stock program, leaving $962.1 million in stock available to sell at the end of the quarter. The filing noted NuScale sold 22.36 million shares after March 31.
Friday’s rally faces a clear test now. Faster licensing adds to the story, but the market still wants to see binding customer deals, project financing, and proof that early engineering work will lead to steady revenue.
