NuScale Power, a leading provider of advanced small modular reactor (SMR) technology, saw its stock soar by 8.68% in Wednesday's intraday trading session. This surge can be attributed to the growing demand for clean, reliable, and sustainable energy solutions to power the rapidly expanding artificial intelligence (AI) and data center industries.
With AI workloads and data center energy consumption expected to skyrocket in the coming years, major tech companies are urgently seeking secure and emission-free energy sources to support their operations while adhering to their net-zero emission targets. NuScale Power's proprietary SMR technology has emerged as a promising solution, offering a near-term and cost-effective option for uninterrupted power supply.
NuScale Power's SMR technology has already received regulatory approval and established supply chain partnerships, positioning the company as a frontrunner in this emerging market. Additionally, the company has reported significant interest from major tech firms seeking to support their AI and high-performance computing needs with sustainable energy sources.
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