New York State has unveiled plans to build the first major U.S. %NuclearPowerPlant in more than 15 years.
Shares of leading nuclear and uranium stocks such as Oklo (NYSE: $OKLO), %Cameco (NYSE: $CCJ), and %NuscalePower (NYSE: $SMR) rose after New York Governor Kathy Hochul said that the nuclear reactor will power one million homes in the state.
Governor Hochul outlined the plans in an interview with The Wall Street Journal, saying she’d requested the New York Power Authority to add at least one gigawatt of electricity generation to the state’s nuclear power capacity.
Shunned in recent years over perceptions that it is too risky, nuclear power is back in the spotlight as U.S. power demand increases, particularly with %ArtificialIntelligence (A.I.) data centres coming online.
Many analysts and industry executives view nuclear power as a clean energy source.
Technology companies such as %MetaPlatforms (NASDAQ: $META) and %Amazon (NASDAQ: $AMZN) are exploring nuclear power options as they look to meet their A.I. needs.
%Microsoft (NASDAQ: $MSFT) has gone so far as to say that it plans to revive the Three Mile Island nuclear facility, which was the site of the infamous U.S. nuclear disaster back in 1979.
For her part, Governor Hochul said that the nuclear reactor, which will be a public utility, could go at it alone or enlist private entities for investment funds.
The stock of OKLO has risen 152% this year to trade at $55.11 U.S. per share.
