Oklo vs. NuScale Power in 2026. Which One Is Actually Worth Buying?
Key Points
Oklo has $2.5 billion in cash and marketable securities, giving the nuclear energy company a substantial runway.
NuScale is the only small modular reactor maker with design approval from the Nuclear Regulatory Commission.
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There's no doubt that nuclear power will play a crucial role in meeting the world's energy needs over the next several years. Two small modular reactor (SMR) companies, Oklo (NYSE: OKLO) and NuScale Power (NYSE: SMR), are pre- and early-revenue businesses that won't be profitable for quite some time. So which one is actually worth buying right now?
Oklo has seen significant price swings, driven mainly by strong enthusiasm and prospects. Oklo has a strong balance sheet despite not yet generating revenue from its technology. The company has $2.5 billion in cash and no debt. Because of this, Oklo has the runway it needs to succeed.
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Oklo is targeting the end of 2027 for the deployment of its Aurora microreactor, which will serve data centers and industrial facilities.
NuScale hits a snag
NuScale's competitive advantage lies in being the only SMR company with design certification from the U.S. Nuclear Regulatory Commission. There is one significant problem hanging over NuScale's head, however. The company is facing a class action lawsuit alleging it misled investors regarding its partnership with ENTRA1 Energy.
Image source: The Motley Fool.
ENTRA1 is a private company that collaborates with NuScale. The lawsuit alleges that NuScale exaggerated ENTRA1's experience and capabilities to investors. The lawsuit is ongoing.
As of this writing, NuScale's stock has plunged nearly 30% year to date. Oklo's stock is also down more than 20% in the same time, but it has still increased by 40% over the past 12 months.
Both stocks still require a very high level of risk tolerance and a meaningful time horizon. Right now, Oklo is the cleaner bet and winner. It has a long runway and high-profile partners, including Meta Platforms.
NuScale had a regulatory lead, but the questions surrounding its legal issues make investing in the company too risky at the moment. If NuScale can beat the allegations with minimal financial and reputational damage, the company could still be quite successful in the coming years.
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Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
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