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Founder, TrendLabs
Exclusive Article
Power Struggle: Why Big Tech Is Buying Nuclear Stocks
Reported by Jeffrey Neal Johnson. Article Published: 1/14/2026.
At a Glance
- Artificial intelligence development creates a structural shift in energy markets as data centers seek reliable baseload power sources.
- Institutional capital is flowing into uranium producers that leverage spot market pricing to capitalize on the widening supply deficit.
- Major technology corporations are establishing strategic partnerships with advanced nuclear developers to build dedicated power campuses.
Artificial Intelligence (AI) has hit a physical constraint. For the past decade, the primary limit on technology growth was computing power — how many chips a company could buy. In 2026, the bottleneck has shifted to energy. The data centers that train massive AI models require reliable, 24/7 electricity — industry “baseload” power.
The challenge for tech giants such as Meta (NASDAQ: META), Microsoft (NASDAQ: MSFT), and Amazon (NASDAQ: AMZN) is that renewableslike wind and solar cannot provide that reliability on their own — they are weather-dependent, and data centers can’t simply pause when the wind stops blowing or the sun sets. Batteries help, but they remain too costly to support gigawatt-scale operations for extended periods.
Jeff Brown recently traveled to a ghost town in the middle of an American desert…
To investigate what could be the biggest technology story of this decade.
In short, he believes what he’s holding in his hand is the key to the $100 trillion AI boom…
And only one company here in the U.S. can mine this obscure metal.Click here to get the details on this virtual monopoly.
That reality is driving a major shift in capital markets. Over the past week we’ve seen unusual options activity in uranium miners and billion-dollar partnership announcements from tech companies. The message is clear: the technology sector is ready to spend heavily to secure its energy future.
For investors, this creates two distinct investment lanes because two separate needs must be addressed: the immediate requirement for fuel to power existing reactors (and those coming online soon), and the longer-term need to build new infrastructure. Capital is flowing into both.
Chasing the Spot Price: Uranium Energy Corp’s Advantage
The most immediate signal of institutional interest arrived on Jan. 9, 2026, when trading data showed a large spike in activity for Uranium Energy Corp. (NYSEAMERICAN: UEC). Traders purchased roughly 35,884 call options in a single session — about 35% above the daily average.
Heavy call buying often indicates that institutional investors or hedge funds are positioning for a near-term stock rise. Why UEC? The answer lies in its business model and the state of the uranium market.
Most uranium producers behave like conservative utilities: they sign long-term contracts at fixed prices. That offers safety but limits upside if uranium prices surge. UEC operates differently — it remains 100% unhedged and sells production at the current market price. With the spot price of uranium above $81 per pound as of early 2026, UEC’s inventory has become materially more valuable.
Operational Catalyst: The Hub-and-Spoke Model
UEC is ramping up production while selling through inventory. The company uses a hub-and-spoke strategy in Wyoming, processing output from multiple mining sites (spokes) at a central plant (the hub).
- Christensen Ranch: Restarted in August 2024 and is now delivering drummed uranium.
- Sweetwater: The acquisition of Rio Tinto’s Sweetwater assets has further consolidated UEC’s position. Integrated throughout 2025, these assets helped create the largest dual-feed uranium facility in the United States.
For investors, UEC represents a leveraged bet on rising uranium prices. If data centers need power immediately, utilities must secure fuel immediately — a dynamic that directly benefits UEC’s unhedged strategy.
Oklo and NuScale: Building the AI Grid
While miners address fuel supply, other companies are developing the actual power sources. Advanced nuclear and small modular reactors (SMRs) have long been viewed skeptically and treated as speculative, but market sentiment shifted on Jan. 9.
Oklo Inc. (NYSE: OKLO), the advanced nuclear firm backed by Sam Altman, announced a partnership with Meta Platforms to develop a 1.2-gigawatt nuclear power campus.
Why This Matters
This is not a research grant — a trillion-dollar tech company is signing up as a paying customer and providing prepayment structures that help fund construction. That de-risks the project for Oklo shareholders by guaranteeing demand before plants are built.
The Sympathy Rally for NuScale
The Meta–Oklo announcement sparked a rally in NuScale Power (NYSE: SMR). NuScale wasn’t part of the deal, but investors view the agreement as validation of the SMR business model. Trading around $20 at the time, Bank of America upgraded NuScale to Neutral with a $28 price target, citing clear demand from data centers.
Investors should note the different risk profiles: unlike miners, SMR developers are building future infrastructure, so their stocks are more volatile and depend on Nuclear Regulatory Commission (NRC) approvals and multi-year construction timelines.
Dividends and Defense: The Case for Cameco
Not every investor wants the volatility of developers like Oklo or the commodity exposure of UEC. For those seeking stability, Cameco Corporation (NYSE: CCJ) remains the sector’s blue-chip anchor.
Cameco is the world’s largest publicly traded uranium company and emphasizes predictability over spot-market exposure. It signs long-term contracts with utilities, which supports steady revenue and allows the company to return cash to shareholders. In late 2025, Cameco raised its annual dividend to $0.24 per share, backed by strong mining cash flows and a 49% stake in Westinghouse.
Geopolitics and Supply Chains
Cameco also benefits from shifting geopolitics. The U.S. ban on Russian uranium imports has pushed Western utilities to seek reliable, non-Russian suppliers. With significant, high-grade reserves at McArthur River and Cigar Lake, Cameco is a natural choice for risk-averse utilities — providing a defensive floor under Cameco’s stock.
A Tale of Two Timelines: Fuel or Infrastructure?
The so-called “nuclear renaissance” has moved from slogan to a complex phase of capital deployment. The energy constraints of the AI era have turned uranium into one of the few commodities with an effectively guaranteed demand-growth curve for the next decade.
Investors now face a choice by risk tolerance and timeline:
- The Now Trade: UEC offers immediate exposure to rising uranium prices through unhedged inventory and production ramp-up in Wyoming.
- The Future Trade: Oklo and NuScale offer high-growth potential supported by Big Tech contracts, but come with higher volatility and execution risk.
- The Safe Trade: Cameco provides dividends, stability, and institutional safety.
Silicon Valley appears to have made its choice: it is going nuclear. The race to power the next generation of technology has begun, and investors should consider following where capital is flowing.
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