Nuclear Stocks Rally As U.S. Signs $80 Billion Nuclear Deal With Westinghouse. Cameco up 20%; NexGen Energy, Uranium up 11%

Nuclear stocks rose in Tuesday trading. Cameco up 20%; NexGen Energy, Uranium up 11%; NuScale Power up 9%; Energy Fuels up 8%; Nano Nuclear, Centrus up 5%.

The federal government is putting its might behind nuclear energy and at least two players in the nuclear space are set to benefit.

Brookfield Asset Management and Cameco announced a partnership with the Department of Commerce on Tuesday that will see the government arrange financing and facilitate approvals for at least $80 billion in nuclear reactors powered by Westinghouse Electric technology. Brookfield owns 51% of Westinghouse, and Cameco owns the other 49%.

As part of the deal, the government will receive 20% of any cash distributions over $17.5 billion made by Westinghouse once the $80 billion investment is reached. If the valuation of a Westinghouse initial public offering is expected to be $30 billion or more by January 2029, the government can also require an initial public offering and receive a warrant to take a 20% equity stake in the company.

It wasn’t immediately clear whether the government would finance any of the $80 billion itself. “Many details need to be finalized,” a Cameco spokesperson told Barron’s, adding that the parties expect to negotiate definitive agreements to replace a current binding term sheet.

The deal follows President Donald Trump’s executive orders in May attempting to expedite permitting for reactors and expand uranium production. Westinghouse’s new reactors are expected to generate energy for the U.S. grid, including for artificial-intelligence data centers, the companies said.

“We expect that the new build commitments from the US will bolster broader confidence in the durable growth profile for nuclear power,” said Cameco CEO Tim Gitzel in a statement.