Nuclear stocks surge on report of Trump executive orders to boost industry
May 23 (Reuters) - Shares of nuclear power soared in premarket trading after a Reuters report said U.S. President Donald Trump will sign executive orders aimed to jumpstart the nuclear energy industry as soon as Friday.
Trump is expected to streamline the regulatory process for new reactor approvals and enhance fuel supply chains, four sources familiar with the matter told Reuters.
Uranium miners led the gains with Uranium Energy (UEC.A), opens new tab up 11.8%, Energy Fuels (UUUU.A), opens new tab climbing 13.2%, and Centrus Energy (LEU.A), opens new tab surging 19.6%.
Nuclear utilities Constellation Energy (CEG.O), opens new tab rose 5.5%, GE Vernova (GEV.N), opens new tab was up 3.3% and Vistra (VST.N), opens new tab added 4%.
Sam Altman-backed nuclear startup Oklo Inc (OKLO.N), opens new tab jumped 16%, while Nano Nuclear Energy (NNE.O), opens new tab soared 15.8%. NuScale Power (SMR.N), opens new tab, which develops nuclear technology, added 14.1% and Global X Uranium ETF (URA.P), opens new tab surged 9%.
The United States is facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared an energy emergency on his first day in office.
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