4 days ago
Uranium ETFs Surge on New Meta, Constellation AI Deal
Uranium and nuclear ETFs jumped after Meta Platforms Inc. (META) agreed to buy nuclear power for 20 years from a Constellation Energy Corp. (CEG) reactor in Illinois that had been slated to close, as soaring artificial intelligence use forces companies to find fresh electricity supply.
The biggest U.S. uranium exchange-traded fund, the $3.2 billion Global X Uranium ETF (URA), added 3% in early afternoon trading. The $255.2 million Range Nuclear Renaissance Index ETF (NUKZ), with its top holding being a 9.3% allocation to Constellation, added 0.9%.
Today's gains add to this year's surge in uranium and nuclear exchange-traded funds, which have been jumping on AI-stoked energy demand and as President Donald Trump takes steps to dismantle nuclear power industry regulations. URA's 19% gain this year beats the 1.4% increase in the Vanguard S&P 500 ETF (VOO).
URA had jumped 12% on May 23 after Trump signed an executive order making approvals for new reactors easier as well as opening federal lands to nuclear power plant construction and providing for more robust uranium supply lines. Trump, in his first day in office, declared an energy emergency.
The Meta pact follows a similar agreement Microsoft Corp. (MSFT) signed with Constellation this past autumn that would restart the Three Mile Island reactor, as Microsoft's artificial intelligence ambitions consume massive amounts of electricity.
'Securing clean, reliable energy is necessary to continue advancing our AI ambitions,' Meta's head of global energy Urvi Parekh said in a statement regarding the pact to buy energy from the Clinton Clean Energy Center.
Uranium & Nuclear ETF Gains—Source: Factset
AI inquiries on tools like ChatGPT use more energy than traditional search, forcing companies to scour the globe for new energy sources. The International Energy Agency last year said that by 2026, the AI industry will be using 10 times the amount of energy it used in 2023.
Other uranium ETFs jumping today include a 5.3% gain in the second-largest uranium ETF, the $1.5 billion Sprott Uranium Miners ETF (URNM), a 7.4% jump in the Sprott Junior Uranium Miners ETF (URNJ) and 2.3% rise in the VanEck Uranium+Nuclear Energy ETF (NLR). Permalink | © Copyright 2025 All rights reserved
