According to Reuters, utilities across the U.S. are now projecting electricity sales growth far beyond what analysts expected just months ago. 

Data centers are a key driver of nuclear energy demand. In fact, nine of the top ten U.S. electric utilities have identified data centers as a primary source of customer growth, forcing them to revise both capital expenditure plans and long-term demand forecasts upward. 

Big Tech is Going Nuclear

Meta Platforms (NASDAQ: META) made a decisive move to meet nuclear energy demand. The company recently announced agreements to secure approximately 6.6 gigawatts of nuclear power capacity by 2035 to support its growing network of AI-driven data centers. One of those agreements involves Vistra Energy, which will supply electricity from three existing nuclear power plants.

Meta’s strategy reflects a broader reality: renewable sources like solar and wind, while essential, can’t always provide the consistent, around-the-clock power that AI infrastructure requires. Nuclear energy, on the other hand, offers reliability, scalability, and zero-carbon output—making it uniquely suited for this new era of demand.

Meta isn’t stopping there. It’s also partnering with Oklo to help develop a 1.2-gigawatt power campus in Ohio. The agreement includes a mechanism for Meta to prepay for energy, helping fund development and accelerate the deployment of Oklo’s next-generation nuclear technology.

Why Nuclear Energy is Back in Focus

For years, nuclear energy was largely sidelined due to high costs, regulatory hurdles, and public perception concerns. But the AI boom is changing that narrative.

Today, nuclear checks several critical boxes:

• Reliability: Unlike intermittent renewables, nuclear provides consistent baseload power
• Scalability: New reactor designs promise faster and more flexible deployment
• Clean Energy Goals: Nuclear produces virtually no carbon emissions
• Energy Security: Domestic nuclear power reduces reliance on foreign energy sources

As governments and companies race to secure stable power for AI, nuclear power is quickly becoming a priority.

How Investors Can Gain Exposure

For investors looking to capitalize on this trend, exchange-traded funds (ETFs) offer a diversified and accessible entry point into the nuclear energy space.

Global X Uranium ETF (URA)

The Global X Uranium ETF, with an expense ratio of 0.69%, provides broad exposure to companies involved in uranium mining and nuclear component production. Its portfolio includes around 50 holdings across the nuclear supply chain—from extraction and refining to equipment manufacturing. Top holdings include major industry players like Cameco (NYSE: CCJ), NexGen Energy (NYSE: NXE), Uranium Energy Corp. (NYSEAMERICAN: UEC), Paladin Energy (OTCMKTS: PALAF), Denison Mine (NYSEAMERICAN: DNN), and NuScale Power (NYSE: SMR).

VanEck Uranium and Nuclear ETF (URNM)

Another strong option is the VanEck Uranium and Nuclear ETF, which carries a slightly lower expense ratio of 0.56%. This ETF tracks an index focused on companies involved in uranium mining, nuclear facility construction, reactor engineering, and nuclear-based electricity generation. Its holdings include Cameco, Constellation Energy (NASDAQ: CEG), Oklo (NYSE: OKLO), Denison Mines, Uranium Energy Corp, and PG&E (NYSE: PCG).

The Bottom Line

In short, what we’re witnessing these days is the early stage of a major shift in how power is generated, distributed, and consumed. As hyperscalers like Meta lock in nuclear supply and utilities scramble to meet growing demand, we’re seeing a multi-year growth opportunity.

As the world leans further into AI and electrification, invest in nuclear energy with well-diversified, lower-cost exchange-traded funds.

For investors, this isn’t just a political headline trade. It’s a structural supply-and-demand setup that could support higher uranium prices and stronger equity performance across the mining and nuclear fuel value chain.

Three Major Catalysts Are Aligning for Uranium Stocks

Uranium stocks could benefit from three key catalysts, all of which are gaining momentum in early 2026.

First, the Trump Administration has expanded its critical minerals list to include uranium. This move is designed to strengthen domestic supply chains and reduce reliance on foreign, and often geopolitically unstable, sources of nuclear fuel. The United States currently imports the majority of the uranium it consumes, with meaningful exposure to countries such as Russia, Kazakhstan, and Uzbekistan.

By designating uranium as a critical mineral, the administration is signaling that domestic mining, processing, and enrichment capacity is now a national priority. That opens the door to faster permitting, government incentives, long-term purchasing agreements, and increased investment across the sector. Historically, when Washington designates a resource as “critical,” capital tends to follow.

Second, President Trump has publicly embraced nuclear power as a cornerstone of U.S. energy policy. During his recent speech at the World Economic Forum in Davos, Trump delivered some of his strongest remarks yet in favor of nuclear energy.

“I’ve signed an order directing and approval of many new nuclear reactors. We’re going heavy into nuclear,” Trump said. ” I was not a big fan, because I didn’t like the risk, the danger, but…the progress they’ve made with nuclear is unbelievable, and the safety progress they’ve made is incredible. We’re very much into the world of nuclear energy…”

That shift matters. Nuclear power had long been politically controversial, but sentiment has changed dramatically as energy security, grid reliability, and decarbonization have moved to the forefront. A pro-nuclear White House increases the odds of reactor approvals, life-extension programs for existing plants, and investment in next-generation reactor designs such as small modular reactors (SMRs).

Third, artificial intelligence is driving a surge in energy demand that renewables alone cannot meet. AI-driven data centers require massive, always-on power. Solar and wind are intermittent by nature, while natural gas faces emissions pressure and infrastructure constraints. Nuclear, by contrast, offers reliable baseload power with zero carbon emissions.

Major tech companies are increasingly turning to nuclear energy to fuel their AI ambitions. Meta Platforms (NASDAQ: META) recently announced plans to use nuclear power to run its AI data centers, partnering with Vistra (NYSE: VST), TerraPower, and Oklo Inc. (NYSE: OKLO). Those projects are expected to add roughly 6.6 gigawatts of power by 2035. Meta also signed a 20-year agreement last year with Constellation Energy (NASDAQ: CEG) to purchase nuclear power, underscoring the long-term commitment.

This trend isn’t limited to Meta. Across the tech sector, nuclear power is emerging as one of the few scalable solutions capable of supporting the next wave of AI infrastructure.

A Tight Uranium Market Adds Fuel to the Fire

These demand-side catalysts are arriving at a time when the uranium market is already structurally tight. Years of underinvestment following the Fukushima disaster left global supply constrained just as reactor restarts, new builds, and life extensions picked up pace. Bringing new uranium mines online is capital-intensive, heavily regulated, and time-consuming, which limits how quickly supply can respond to rising demand.

As a result, uranium prices tend to move in sharp cycles when demand accelerates. That dynamic can create outsized gains for well-positioned miners and uranium-focused investment vehicles.

ETFs Offer Diversified Exposure to the Theme

While investors can buy individual uranium stocks such as Cameco Corp. (NYSE: CCJ), one of the most efficient ways to gain exposure is through exchange-traded funds (ETFs). ETFs help diversify single-asset and geopolitical risk while still capturing upside from higher uranium prices.

Global X Uranium ETF (URA)

With an expense ratio of 0.69%, the Global X Uranium ETF (NYSEARCA: URA) provides broad exposure to companies involved in uranium mining, exploration, refining, and nuclear component manufacturing. The fund holds roughly 50 uranium-related stocks, offering diversification across geographies and business models.

Top holdings include Cameco Corp., NexGen Energy (NYSE: NXE), Uranium Energy Corp. (NYSEAMERICAN: UEC), Paladin Energy (OTCMKTS: PALAF), Denison Mine (NYSEAMERICAN: DNN), and NuScale Power (NYSE: SMR). After a period of consolidation, URA appears oversold relative to the improving fundamentals, which could make it attractive to investors looking to position ahead of renewed momentum.

Sprott Uranium Miners (URNM)

With an expense ratio of 0.75%, the Sprott Uranium Miners ETF (NYSEARCA: URNM) offers a more concentrated and leveraged play on uranium prices. The fund invests primarily in uranium miners but also holds physical uranium, giving investors direct exposure to the commodity itself.

Top holdings include Cameco Corp., Paladin Energy, Denison Mines, Uranium Energy Corp., Deep Yellow Ltd., Yellow Cake PLC, and Ur-Energy. For investors who are bullish on uranium prices and comfortable with higher volatility, URNM provides a more aggressive way to express that view.

Bottom Line for Investors

Between policy support, rising AI-driven energy demand, and a structurally tight supply market, uranium is re-emerging as one of the most compelling long-term energy investment themes. President Trump’s renewed push for nuclear power could act as an accelerant, drawing fresh capital into the space and reshaping how the market values uranium stocks.

For investors willing to tolerate volatility, uranium ETFs like URA and URNM offer diversified exposure to a sector that may be entering the early stages of its next major upcycle.

As data centers scale to support AI workloads, electricity consumption is rising far faster than utility planners anticipated. According to Reuters, “some power companies are projecting electricity sales growth several times higher than estimates just months earlier.

Nine of the top 10 U.S. electric utilities said data centers were a main source of customer growth, leading many to revise up capital expenditure plans and demand forecasts.” That shift is putting pressure on grids to find clean, reliable, and always-on sources of power. All of these are areas where nuclear energy stands out.

The momentum accelerated further when Meta Platforms Inc. (NASDAQ: META) announced plans to secure roughly 6.6 gigawatts of nuclear power by 2035 to support its expanding data center footprint. One agreement involves Vistra (NYSE: VST), which will provide electricity from three existing nuclear plants, while another advances Oklo Inc.’s (NYSE: OKLO) plan to develop a 1.2-gigawatt power campus in Ohio.

AI is Central to Understanding Demand for Nuclear Power

Uranium fundamentals have tightened meaningfully over the past several years. Years of underinvestment following the Fukushima disaster left the industry with limited new production, while long-term contracting activity among utilities has been picking up. As more countries extend the life of existing reactors and pursue new nuclear capacity to meet decarbonization goals, uranium demand is expected to grow steadily.

At the same time, the AI-driven data center boom is adding a new structural layer of demand. Nuclear energy’s ability to deliver baseload power without carbon emissions makes it uniquely suited for hyperscale computing. For investors who believe nuclear power demand will remain elevated for years, URA offers a straightforward way to participate in both the fuel cycle and the broader nuclear infrastructure buildout.

With nuclear power demand now tied directly to AI infrastructure buildouts, investors are increasingly looking for efficient ways to gain exposure. For many, nuclear-focused ETFs offer a diversified and liquid solution.

Global X Uranium ETF: Broad Exposure to Nuclear Fuel

For investors seeking diversified access to the nuclear supply chain, the Global X Uranium ETF (NYSEARCA: URA) offers one of the most established vehicles in the space. With an expense ratio of 0.69%, URA tracks companies involved in uranium mining, exploration, refining, and the manufacturing of nuclear components. Rather than betting on a single stock, investors gain exposure across roughly 50 companies tied to the uranium and nuclear ecosystem.

URA’s portfolio includes well-known industry names such as Cameco Corp. (NYSE: CCJ), NexGen Energy (NYSE: NXE), Uranium Energy Corp. (NYSEAMERICAN: UEC), Paladin Energy (OTCMKTS: PALAF), Denison Mines Corp. (NYSEAMERICAN: DNN), and NuScale Power (NYSE: SMR). This mix provides a blend of established producers, emerging developers, and next-generation reactor technology firms. That balance can be particularly attractive in a market where demand is rising, but supply remains constrained. 

VanEck Uranium and Nuclear ETF: Higher Concentration, Higher Torque

The VanEck Uranium and Nuclear ETF (NYSEARCA: URNM) provides a slightly different approach for investors seeking nuclear exposure. With a lower expense ratio of 0.56%, the URNM ETF is more concentrated than URA and tilts more heavily toward uranium miners and developers. This structure can offer greater upside potential when uranium prices are rising, though it may also increase volatility during downturns.

URNM holds many of the same core names found in URA, including Cameco, NexGen Energy, Denison Mines, and Uranium Energy. However, it places a larger emphasis on pure-play uranium producers and royalty-style exposure to the underlying commodity. As a result, URNM tends to track uranium price movements more closely than broader nuclear ETFs.

That focus could be particularly advantageous in the current environment. Utilities are increasingly returning to long-term uranium contracting to secure supply, a trend that historically supports higher prices. Meanwhile, geopolitical concerns and supply concentration, particularly in regions like Kazakhstan and parts of Africa, add an additional risk premium to the uranium market.

The AI-driven surge in electricity consumption adds another demand catalyst that did not exist in previous nuclear cycles. Meta’s agreements with Vistra and Oklo highlight how large technology firms are now directly engaging with nuclear operators to secure future capacity.

As more hyperscalers follow suit, the pressure on uranium supply chains could intensify. For investors willing to accept higher volatility in exchange for potentially higher returns, URNM offers a compelling way to express a bullish view on nuclear power demand.

Risks to the Thesis: Policy, Timing, and Market Cycles

Despite the strong tailwinds, investing in nuclear-focused ETFs is not without risk. One key uncertainty is regulatory and political support. While nuclear energy is gaining acceptance as a clean power source, policy changes, permitting delays, or public opposition could slow new project development. Small modular reactors and next-generation designs, such as those pursued by Oklo, still face commercialization and licensing hurdles.

Commodity cycles also pose a risk. Uranium prices can be volatile, and periods of oversupply or reduced utility contracting could pressure miners and developers. Because ETFs like URNM are heavily tied to the uranium price, they may experience sharper drawdowns during downturns in the commodity cycle.

Finally, the pace of AI-driven demand growth is not guaranteed. A slowdown in data center expansion, shifts in computing efficiency, or breakthroughs in alternative energy storage could reduce the urgency for nuclear capacity. While long-term fundamentals remain attractive, investors should recognize that nuclear ETFs are best suited for those with a multi-year time horizon and a tolerance for near-term volatility.

Conclusion: A Simple Way to Ride the Nuclear Power Revival

Nuclear power demand is no longer a niche theme—it is becoming a cornerstone of the global energy transition and the AI infrastructure buildout. With hyperscale data centers driving unprecedented electricity demand and major corporations committing to long-term nuclear contracts, the outlook for uranium and nuclear energy has undergone a fundamental shift.

For investors seeking exposure without the risks of picking individual stocks, ETFs provide a practical solution. The Global X Uranium ETF (URA) offers broad diversification across the nuclear value chain, while the VanEck Uranium and Nuclear ETF (URNM) delivers more concentrated, higher-octane exposure to uranium producers. As AI, decarbonization, and energy security converge, nuclear-focused ETFs may be one of the most efficient ways to participate in this powerful and accelerating trend.

Microsoft Corp. (NASDAQ: MSFT), for example, recently signed a power purchase agreement with Constellation Energy (NASDAQ: CEG). That’s because Microsoft needs extra power to run the servers at its Azure business unit, and thinks nuclear might be the best way to produce that power. Alphabet (NASDAQ: GOOGL) and Amazon (NASDAQ: AMZN) are looking to nuclear power for their data centers. Alphabet partnered with Kairos Power to open small modular nuclear reactors. 

You should also consider this note from Mining.com: “After 2030, output from existing mines is forecast to halve, creating a pressing need for new mines and restarts of idle operations. With it taking 10 to 20 years to develop new uranium projects, the association stressed the importance of accelerated investment now to avoid disruptions.”

Also, the Trump Administration just expanded its critical minerals list to include uranium in an effort to strengthen domestic supply and reduce reliance on foreign sources. As noted by Investing News, “The designation of uranium recognizes its strategic importance in powering commercial nuclear reactors, fueling US Navy submarines and supporting defense applications. Currently, the United States imports over 95 percent of its uranium, a dependence that policymakers view as a critical national security concern.”

All of which could serve as a powerful catalyst for uranium stocks, like Cameco Corp. (NYSE: CCJ), Denison Mines (NYSEAMERICAN: DNN), and Oklo (NYSE: OKLO). But if you want greater exposure at a lower cost, look at exchange-traded funds (ETFs), such as:

Uranium Stocks ETFs: Global X Uranium ETF

With an expense ratio of 0.69%, the oversold Global X Uranium ETF (NYSEARCA: URA) provides investors access to a broad range of companies involved in uranium mining, and the production of nuclear components, including those in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries, holds about 50 related uranium stocks. 

That includes Cameco, NexGen Energy, Uranium Energy, Paladin Energy, Denison Mines, and NuScale Power. At the moment, the URA ETF is oversold at $44.25. From here, we’d like to see it rally back to $57.50 a share, near term.

Uranium Stocks ETFs: Sprott Uranium Miners ETF

With an expense ratio of 0.75%, the Sprott Uranium Miners ETF (NYSEARCA: URNM) ETF invests in uranium miners and physical uranium. Some of its top holdings include Cameco Corp., Paladin Energy, Denison Mines, Uranium Energy Corp., Deep Yellow Ltd., Yellow Cake PLC, and Ur-Energy, to name just a few. The URNM ETF is also oversold at $55.08. From here, we’d like to see it rally back to $65 a share initially.

Uranium’s Long-Term Setup Looks Compelling

Uranium is no longer just a niche energy play—it’s becoming a strategic resource tied to artificial intelligence, national security, and long-term energy stability. With global demand projected to surge and supply growth constrained by long development timelines, the uranium market appears structurally tight heading into the next decade. Government support, including the U.S. designation of uranium as a critical mineral, further strengthens the investment thesis.

While individual stocks like Cameco, Denison Mines, and Oklo offer targeted exposure, ETFs such as URA and URNM may provide a more balanced way to participate in the sector’s upside. If nuclear power continues gaining momentum, uranium stocks and ETFs could be positioned for another powerful leg higher.