Nuclear energy stocks erupted on Friday, May 23, 2025, following President Donald Trump’s signing of four executive orders aimed at turbocharging the U.S. nuclear industry. The orders, heralded as a “historic action to usher in the American nuclear renaissance,” promise to slash regulatory hurdles, fast-track reactor approvals, and bolster domestic uranium supply chains. With energy demands soaring—driven by power-hungry AI data centers and cryptocurrency mining—investors are betting big on nuclear as a reliable, low-carbon solution. But what exactly fueled this market frenzy, and which companies led the charge?
Check out my interview with James Walker, CEO of Nano Energy, here: Nano Energy’s Vision for Micro Nuclear Reactors. And the interview with Jay Yu, Founder, here: Promoting the Future: The Path to Clean, Scalable Power through Nano Nuclear Energy
Why Nuclear Stocks Surged
Trump’s executive orders address longstanding barriers that have stifled U.S. nuclear development, positioning the sector to meet rising electricity needs. Here’s why the market reacted with such enthusiasm:
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Streamlined Regulations and Faster Approvals: The orders mandate the Nuclear Regulatory Commission (NRC) to decide on reactor license applications within 18 months, a significant reduction from the years-long process that has deterred investment. They also grant the U.S. Energy Secretary authority to approve advanced reactor designs, bypassing some NRC oversight. This deregulation is seen as a game-changer for innovative nuclear technologies, particularly small modular reactors (SMRs). Wedbush analysts noted that these changes are “expected to be a significant tailwind for the industry.”
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Federal Land and Defense Support: The orders direct the Departments of Energy and Defense to identify federal lands and military bases for new nuclear facilities, potentially co-located with data centers. This move reduces siting challenges and aligns with Trump’s goal of quadrupling nuclear capacity within 25 years—a target experts call ambitious but indicative of strong policy support.
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Uranium and Fuel Supply Boost: Invoking the Defense Production Act, Trump declared a “national energy emergency” over U.S. reliance on Russian and Chinese uranium and nuclear fuel. The orders promote domestic uranium mining and enrichment, benefiting companies involved in the fuel supply chain. This addresses a critical vulnerability, as the U.S. currently imports over 20% of its enriched uranium from Russia.
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AI and Data Center Demand: U.S. power consumption is projected to hit record highs in 2025 and 2026, driven by AI and crypto mining. Nuclear’s reliability makes it a prime candidate to power these energy-intensive facilities, unlike intermittent renewables. Interior Secretary Doug Burgum emphasized nuclear’s role in winning the “AI arms race with China,” boosting investor confidence in the sector’s growth potential.
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Bipartisan Appeal and Industry Momentum: Nuclear enjoys rare bipartisan support, with Democrats favoring its near-zero carbon emissions and Republicans valuing its energy independence. Recent industry moves, like Constellation Energy’s plan to restart Three Mile Island for Microsoft and Oracle’s commitment to SMRs for data centers, signal a sector on the cusp of revival. Trump’s orders amplify this momentum, making nuclear stocks a hot investment.
Companies with the Highest Gains
The market’s response was swift, with nuclear stocks soaring across the board. Below are the companies that recorded the highest percentage gains on May 23, 2025, based on available data:
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Nano Nuclear Energy (NNE): Shares surged 30.3%, closing at approximately $23.50. As a developer of advanced microreactors, Nano Nuclear is poised to capitalize on the demand for compact, scalable nuclear solutions. Founder Jay Yu highlighted the orders’ potential to “fast-track advanced nuclear technology” on Yahoo Finance.
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Oklo (OKLO): The Sam Altman-backed nuclear startup saw shares rocket 23.1%, reaching $51 earlier in the day. Oklo’s focus on small, modular reactors aligns perfectly with the orders’ emphasis on innovative designs and federal land deployment.
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NuScale Power (SMR): Shares climbed 19.6%, hitting $31.05. NuScale, a leader in SMR technology, benefits from the streamlined licensing process, which could accelerate its projects. Posts on X noted NuScale’s strong quarterly performance, adding to investor enthusiasm.
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Centrus Energy (LEU): This uranium enrichment company jumped 22% in premarket trading, reflecting the orders’ focus on domestic fuel production. Centrus stands to gain from expanded uranium enrichment capacity.
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Uranium Energy Corp. (UEC): Shares rose 18% in premarket trading, driven by the push for domestic uranium mining. As a major U.S. uranium producer, UEC is well-positioned to benefit from reduced reliance on foreign supplies.
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Cameco Corp. (CCJ): One of the world’s largest uranium miners, Cameco gained 11%, buoyed by the uranium supply chain focus. Its global reach complements the U.S.-centric policy shift.
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Constellation Energy (CEG): The largest U.S. nuclear operator saw a more modest 2% gain, closing slightly higher. Its role in traditional nuclear power and the Three Mile Island restart makes it a steady beneficiary.
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Energy Fuels (EFR): This uranium and rare earths producer climbed 16% in premarket trading, reflecting the broader uranium market rally.
Other notable gainers included nuclear utilities like GE Vernova (GEV) and Vistra (VST), each up over 1.2%, and the Global X Uranium ETF (URA), which advanced 9%.
Risks and Challenges Ahead
While the market’s euphoria is justified, risks remain. Former Energy Secretary Ernest Moniz warned that reducing NRC independence could lead to “hasty deployment of advanced reactors with safety and security flaws,” potentially setting back the industry. Safety advocates also highlight unresolved issues like nuclear waste storage and the environmental costs of uranium mining. Additionally, some analysts, like those at The Motley Fool, caution that the rally may be short-lived if the industry fails to meet heightened expectations.
The goal of quadrupling nuclear production by 2050 is ambitious, given that nuclear currently accounts for 18% of U.S. power, and no new civilian plants have been commissioned in years. Achieving Trump’s vision will require significant investment and public acceptance, particularly for experimental reactors slated for operation by July 2026.
The Road to a Nuclear Renaissance
Trump’s executive orders have ignited a nuclear stock rally by addressing regulatory, supply, and siting challenges head-on. The promise of powering AI-driven growth with clean, reliable energy has investors buzzing, with companies like Nano Nuclear, Oklo, and NuScale leading the charge. While safety and scalability concerns linger, the market sees a sector poised for growth, backed by strong policy support and bipartisan momentum.
As Interior Secretary Doug Burgum declared, “Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation.” Whether this marks the dawn of a nuclear renaissance or a speculative bubble, one thing is clear: nuclear energy is back in the spotlight, and investors are all in.
Stay tuned to Energy News Beat for updates on the nuclear sector’s evolution.