3 Stocks to Profit From the Upcoming Nuclear Power Boom

President Donald Trump, committed to facilitating a rebirth of America's nuclear energy industry, issued four executive orders in late May. From expediting the licensing process for nuclear reactors to examining the potential for nuclear fuel recycling, Trump addressed a range of issues that had hindered the industry's growth for years.

With enthusiasm for the nuclear energy industry surging through Washington, many are eager to find stocks that can benefit from the industry's apparent renaissance. For these investors, NuScale Power (NYSE: SMR), Constellation Energy (NASDAQ: CEG), and Cameco (NYSE: CCJ) look like smart choices to power their portfolios.

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NuScale Power has a large advantage with its small modular reactors

Long gone are the days of massive nuclear power plants that require enormous capital investments and take years to construct. Nowadays, companies like NuScale Power are developing small modular reactors (SMRs) that offer a variety of advantages over conventional nuclear power plants.

For one, SMRs require considerably smaller footprints, making them more attractive to project developers, which can scale these reactors to their individual site's needs. And SMRs have improved safety profiles including the ability to shut down and self-cool indefinitely, unlike traditional nuclear power plants. Among other advantages, NuScale's SMRs are built in a factory, which helps to keep costs down and expedite project development.

With $491 million in cash and no debt, the company is on strong financial footing, an appealing situation for those looking to balance a quality growth stock that's not rife with risk. To state its competitive advantage over other SMR providers, NuScale Power says that it's the only near-term deployable SMR company with design approval from the U.S. Nuclear Regulatory Commission.

Shoot for the stars with utility powerhouse Constellation Energy

While Constellation Energy's portfolio includes about 10 gigawatts (GWs) of natural gas, oil, hydroelectric, wind, and solar generation assets, it's nuclear energy that represents the lion's share of its generating capacity -- about 21 GWs, or enough power to meet the demands of 16 million homes.

The company's nuclear assets caught the attention of Microsoft in 2024, and the two inked a 20-year power purchase agreement (PPA) that will see the tech company purchase power in support of its data centers, generated from the restart of operations at the Three Mile Island plant, now dubbed the Crane Clean Energy Center.

More recently, Meta Platforms showed its enthusiasm for nuclear energy as a power source for its growing AI-related operations. Earlier this month, Meta and Constellation signed a 20-year PPA for nuclear energy that will be generated at the Clinton Clean Energy Center in Illinois.

The deals that Constellation inked with Microsoft and Meta are merely two small examples of the vast investments that AI companies are making to support their data centers. And it wouldn't be all that surprising if Constellation Energy announces similar deals with AI leaders that recognize the allure of nuclear energy as a route to meeting the steep power demands that AI computing requires.

Fuel your portfolio with uranium producer Cameo

Interest in developing new nuclear power plants is great, but it means little if there's no uranium to fuel said power plants. That's where Cameco comes in. The company is the largest uranium producer based on market capitalization found on American stock exchanges.

Operating throughout the nuclear fuel value chain, Cameco is involved in exploratory activities as well as uranium refining and fuel manufacturing services.

And with one of President Trump's executive orders stating specifically that "It is the policy of the United States to expedite and promote to the fullest possible extent the production and operation of nuclear energy..." Cameco clearly stands to benefit as the pathway for developing uranium assets, and other potential regulatory hurdles may be less burdensome now.

In 2024, Cameco reported uranium production of 23.4 million pounds, and it has ample resources to ensure production for years to come. As of the end of 2024, for example, the company reported 457 million pounds of proven and probable reserves.

It's also worth noting that Cameco has the potential to profit from the growth of SMR producers like Kairos Power and TerraPower that use high-assay low-enriched uranium (HALEU) as a fuel source. Cameco also has a 49% ownership stake in Global Laser Enrichment, which has the ability to produce HALEU.

Should you invest $1,000 in NuScale Power right now?

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Constellation Energy, Meta Platforms, and Microsoft. The Motley Fool recommends Cameco and NuScale Power and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.