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 up 11.8%, Energy Fuels UUUU.A climbing 13.2%, and Centrus Energy LEU.A surging 19.6%.
Nuclear utilities Constellation Energy CEG.O rose 5.5%, GE Vernova GEV.N was up 3.3% and Vistra VST.N added 4%.
Sam Altman-backed nuclear startup Oklo Inc OKLO.N jumped 16%, while Nano Nuclear Energy NNE.O soared 15.8%. NuScale Power SMR.N, which develops nuclear technology, added 14.1% and Global X Uranium ETF URA.P 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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