Nuscale Power CorpNo commercial reactor sales and projects in pre-development until 2030s.

NuScale Power, the only U.S. company with a certified small modular reactor design, has seen its stock fall 75% over the past 12 months as the company has yet to sell a commercial reactor and enthusiasm for AI power stocks has waned. The decline reflects a broader retreat in nuclear energy stocks since their peak in mid-October 2025, when the VanEck Uranium and Nuclear ETF had surged roughly 47% from late June before giving back about 30% of its value. NuScale has never deployed a small modular reactor for commercial use, and its two projects in Romania and with the Tennessee Valley Authority remain in pre-development, with concrete results unlikely until the 2030s. While the long-term potential for nuclear power to meet data center demand remains, tech companies are currently favoring nearer-term solutions like fuel cells, making NuScale a high-risk, early-stage bet.
Nuscale Power CorpNo commercial reactor sales and projects in pre-development until 2030s.