2 Nuclear Stocks Every AI Investor Should Follow

Nuclear energy is ready to explode. That's the conclusion of Bank of America analysts following the publication of their new report on nuclear energy.

"[N]uclear energy has, in many ways, been recently 'rediscovered' amid surging electricity demand," the bank's analysts observe. "Compared with other energy sources, it offers reliable baseload power, a smaller carbon footprint, and a higher energy return on investment."

How big will the nuclear energy renaissance be? In total, nuclear energy is a $10 trillion opportunity that could hold "the answer to the world's power shortages," the bank concluded.

Morgan Stanley analysts largely agree, though with slightly differing forecasts. "Global nuclear capacity could more than double to 860 gigawatts (GW) by 2050," a recent Morgan Stanley report predicts. "Investments in the nuclear value chain could reach $2.2 trillion in the next 25 years."

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Bank of America cited "surging electricity demand" as a reason for building more nuclear power plants. And there's one major reason for this rise in demand: artificial intelligence. U.S. electricity use hit new highs last year, with 2026 and 2027 also expected to reach record highs. "Demand is surging due in large part to data centers dedicated to ​artificial intelligence," concludes a recent Reuters report.

If you're invested in AI stocks or data center stocks, you'll want to pay very close attention to nuclear energy. That's because without nuclear, it may be difficult for the AI and data center industries to source new power generation, limiting overall growth potential. There are two nuclear stocks in particular that I'd monitor closely.

AI investors should monitor these two nuclear energy stocks

Oklo (NYSE: OKLO) is the most obvious nuclear company for AI investors to track. The company is backed by Sam Altman, the founder of OpenAI. Altman was an early investor in the company, acting as chairman for a number of years.

Oklo specializes in small modular reactors, or SMRs. Oklo calls them "microreactors." The miniature nuclear power plants can be co-located directly with data center infrastructure, allowing these data centers to operate for decades without refueling or needing to rely on grid power. Oklo already has an impressive list of data center customers in its pipeline, including a major deal with Meta Platforms.

NuScale Power (NYSE: SMR) also specializes in SMRs. Its customer acquisition strategy differs, however. Whereas Oklo is focused on closing deals directly with AI and data center companies, NuScale is focused on larger systems that tie in directly to the grid. Its customer base, therefore, is comprised mostly of electric utilities.

Importantly, neither NuScale nor Oklo have any plants currently in operation. Construction on NuScale's biggest project, however -- its 6 gigawatt system in the eastern U.S. in partnership with the Tennessee Valley Authority, or TVA -- could begin later this year. "We're hopeful that TVA can come across the line at some point later this year," NuScale's CFO commented in May.

SMR technology may be years away from attaining a fully commercialized and operational facility in the U.S. But interest is growing quickly among data center operators, electric utilities, and AI companies.

Bank of America is an advertising partner of Motley Fool Money. Ryan Vanzo 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.