Reports of Trump's executive orders to boost the nuclear industry have led to a surge in stocks

The shares of nuclear power companies soared in premarket trade after a report that U.S. president Donald Trump will sign executive orders to jumpstart this industry as soon as Friday.

Trump will streamline the regulatory processes for new reactor approvals, and improve fuel supply chains. This was reported by four sources who are familiar with the issue.

After nearly two decades of stagnation, the U.S. electricity consumption will reach record levels in 2025 or 2026 as data centers devoted to AI and crypto mining plug into the grid.

Wedbush analysts wrote in a report that "our confidence in the AI Revolution data center buildout increases under the Trump Administration, with nuclear power ultimately playing a major role in powering the data centers."

Uranium Mining stocks led the gains with Uranium Energy, Energy Fuels, and Centrus Energy all soaring between 15% and 18%.

The Global X Uranium ETF, which tracks the U.S. listed shares of Cameco, rose by nearly 9%.

Nuclear utilities Constellation Energy increased by 5.3%. Vistra and GE Vernova gained between 2% to 3.4%.

Investors and companies are re-engaging in nuclear energy, which is seen as a more reliable and cleaner fuel source than solar or wind energy.

Trump's tax and spending bill is expected to also benefit the industry, as it has rolled back a number of green-energy subsidies while preserving tax credits for nuclear power.

Analysts at H.C. Wainwright said: "We can clearly see the tailwinds that are sweeping behind the nuclear industry."

Stocks of companies developing new nuclear technologies, like small modular reactors gained value on Friday. Sam Altman's nuclear startup Oklo soared by nearly 18%. Nano Nuclear Energy, NuScale Power and NuScale Power also grew more than 15%. (Reporting and editing by Tasim Zaid and Shilpa Majumdar in Bengaluru, and Medha Singh from Bengaluru)

(source: Reuters)