Nuclear Stocks Rally as Google’s Reactor Deal Lifts the Sector: NANO Nuclear Energy Jumps 8%, Oklo Climbs 8%, NuScale Power Gains 7%

NuScale Power (NYSE: SMR) shares fell 7.17% after UBS downgraded the stock to Sell with a $6 price target, citing concerns over competitive edge, weak customer traction, and cash burn. Pomerantz LLP launched an investigation into potential securities fraud. The company reported $31.5M in revenue, significant losses, and negative cash flow. SMR's valuation is high with an enterprise value near $2.49B and a price-to-sales ratio above 300.

Jan van Eck, CEO of Van Eck Funds, suggests the nuclear energy sector may have bottomed out, citing a 20-year deal between Constellation Energy (CEG) and Google (GOOG, GOOGL) for 890 MW of nuclear capacity, backed by $4.3B in investment. The deal sparked a rally in nuclear stocks, with CEG up 12% and others like VST, TLN, OKLO, SMR, and NNE also gaining. Van Eck believes supporting AI infrastructure, like nuclear power, could rebound, though prediction markets see low odds for this year.

Oklo (OKLO) and NuScale (SMR) shares rose 9% and 7% respectively, driven by Google's nuclear energy commitment. Oklo achieved operational milestones, while NuScale advanced reactor technology. Analysts rate Oklo a Moderate Buy with an $73.28 average target, and NuScale a Hold with an $11.32 target.

Shares of Oklo (OKLO), NuScale Power (SMR), X-Energy (XE), and Nano Nuclear Energy (NNE) rose on Tuesday following Google's 20-year nuclear power deal with Constellation Energy (CEG). The deal includes a five-year AI technology partnership. All four stocks are down year-to-date, with NNE having a Strong Buy consensus and an average price target of $39.17.

Oklo shares rose 7% to near $40 after Google's 20-year nuclear deal with Constellation Energy boosted the sector. The stock faces resistance at $57, having fallen from a peak of $194 in 2025. Google's agreement adds 890 MW of nuclear capacity, with Amazon also signing a 20-year deal for 190 MW. Oklo benefits indirectly, developing fast-fission powerhouses with long-term contracts. The stock's technical trend remains bearish until it reclaims key moving averages.

NuScale Power (SMR) partners with ENTRA1 Energy to advance its small modular reactor technology, targeting power generation and other applications. ENTRA1 develops and finances projects, while NuScale supplies its approved reactor technology. The partnership aims for a potential 6 GW deployment with the Tennessee Valley Authority, which could be the largest nuclear deployment program in U.S. history.