After locking in an 11% gain from the end of trading on Monday through the close of yesterday's market session, NuScale Power (SMR +14.10%) appears poised to extend its streak with investors bidding shares higher on Thursday. A prominent figure in the artificial intelligence (AI) field suggested that nuclear power will play a significant role in the burgeoning AI industry, and investors took note.
As of 2:52 p.m. ET, shares of NuScale Power are up 15.5%.
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Nuclear energy is heralded in a convo between Jensen and Joe
Listen to Joe Rogan's ever-popular podcast, The Joe Rogan Experience, even a little bit, and you'd know that AI is a topic that fascinates him. It's unsurprising, therefore, that Jensen Huang, the founder and chief executive officer of Nvidia, appeared on Rogan's podcast yesterday.
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Key Data Points
In addition to discussing Nvidia's origins, Huang suggested that nuclear power will play a significant role in the future of the AI industry. Responding to Rogan's questions about the insufficient power supply for AI computing, Huang commented, "I think in the next six, seven years, I think you're going to see a whole bunch of small nuclear reactors."
Huang further praised the potential of nuclear power, stating:
"It probably is the smartest way to do it. Right. And it takes the burden off. Yeah, takes the burden off the grid. It takes--and you could build as much as you need, and you can contribute back to the grid. It's a really important point."
Huang's endorsement of nuclear power spoke loudly to NuScale Power investors, as the company contends that its small modular reactors can help meet the power demands that AI computing is placing on data centers.
Is now the time to power your portfolio with NuScale Power stock?
Although Huang's comments suggest nuclear power will soon occupy a greater place on the energy landscape, it's essential to recognize that a NuScale Power investment is speculative as the company doesn't generate substantial revenue. Therefore, investors averse to risk may feel more comfortable with investments in nuclear power exchange-traded funds.
