Shares of NuScale Power (SMR +3.70%) are off to a strong start in 2026, having jumped 40% year-to-date through Monday morning trading. Just as the nuclear energy industry, in general, is increasingly attracting strong investor attention, NuScale Power has emerged as an industry leader that analysts believe has ample room to run higher.
But the stock's strong performance over the past few weeks doesn't mean that those with positions in NuScale Power for the past few years have also fared well. Let's take a closer look to see whether shares of this advanced nuclear reactor company have powered higher since January 2023.
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The promise of a robust nuclear energy industry has investors excited
A notable catalyst for NuScale Power stock occurred in September 2024, when the nuclear energy industry received a boost from Constellation Energy signing a power purchase agreement with Microsoft to restart operations at the Three Mile Island nuclear power plant -- a move intended to help Microsoft secure an adequate power supply for its data centers, and that spurred interest in upstart advanced nuclear companies like NuScale Power.
NYSE: SMR
Key Data Points
Further motivation for the bulls came in May 2025, when President Donald Trump signed executive orders to usher in a nuclear energy renaissance. Shares of NuScale Power ripped higher among speculation that the orders would reduce red tape and expedite the company's progress toward commencing commercial operations. The news helped NuScale Power stock lock in a significant climb in 2025.
Market interest in NuScale Power has remained strong as it drives toward launching commercial operations. Consequently, those who purchased $1,000 in stock three years ago had seen their positions grow to $2,000 as of the end of trading on Jan. 23.
Is it too late to buy NuScale Power stock?
Since NuScale Power's advanced reactors are not in commercial operation, there's still time for forward-looking investors to profit from the company's growth. However, those considering a position should have a high tolerance for risk since there's no guarantee the company's nuclear endeavors will be profitable.
