Whether or not its leading stocks are in a bubble that's on the verge of being popped, there's no denying artificial intelligence (AI)is here to stay. The industry's chief challenge now is just a lack of capacity to meet demand.
It's not simply a matter of building more AI data centers though. That's because AI requires a lot of electricity. Consider that a single generative AI query made of one of the planet's better-known AI-powered chatbots can consume enough electricity to power a light bulb or microwave for a few seconds or recharge your mobile phone's battery. That's not much in the grand scheme of things. But when a single artificial intelligence data center is handling millions of requests, it's enough to power all the homes in a small city.
And this consumption is only set to swell from here. S&P Global Market Intelligence says AI data centers' use of electricity is apt to double between last year and 2030.
Problem? The utility and power industry's production capacity is already strained, and renewables like solar and wind can't be put in place quickly enough to meet long-term demand. The best "clean energy" option that can be scaled up quickly enough -- as well as cost-effectively enough -- is nuclear power. To this end, the International Energy Agency expects worldwide nuclear power output to roughly double between now and 2050.
With that as the backdrop, here's a look at three stocks you can buy right now to capitalize on the budding nuclear power renaissance.
1. Constellation Energy
Remember the late-2024 headlines that one of the mothballed reactors at Pennsylvania's Three Mile Island was being restarted primarily to power one of Microsoft's data centers? The company making the power plant operational again is utility outfit Constellation Energy (CEG +1.26%).
This isn't a one-off oddity or mere experiment, though. It's a microcosm and evidence of Constellation's core strength. This company already operates 21 nuclear reactors that produce more than 80% of its total power output. This utility giant's nuclear fleet generates more electricity, in fact, than the rest of the United States' nuclear power production facilities put together. It's clearly got the capabilities it needs to lead the renewed charge.
NASDAQ: CEG
Key Data Points
But you don't need a dividend-paying utility name right now? You'd rather have growth? Yes, CEG is a utility stock. That doesn't mean it's incapable of producing strong revenue and earnings growth for the foreseeable future. Again, the IEA predicts nuclear power production is apt to double over the course of the coming 25 years, while Bloomberg NEF says AI data centers' electricity usage is likely to more than triple by 2050.
There's massive near-term and long-term growth opportunity here, and Constellation is equipped to capitalize on both.
2.Centrus Energy
Nuclear power production facilities are only half the story. They're useless without the nuclear fuel required to make them function. Enter Centrus Energy (LEU +1.46%).
Centrus Energy supplies enriched uranium to the nuclear power industry. It's not just a supplier, though. It also makes and markets nuclear material-handling equipment like uranium enrichment centrifuges, in addition to helping existing reactor operators better manage their facilities' nuclear fuel life cycles.
Image source: Getty Images.
Centrus Energy is also consistently profitable regardless of the market environment, having not failed to report a respectable annual profit since 2020 when uranium prices began to recover in conjunction with rekindled interest in nuclear power -- and when it became clear that renewables just couldn't be put in place fast enough to meet the planet's intended timeline for transitioning to carbon-free energy.
It's also very much in the right place at the right time. The World Nuclear Association expects demand for enriched uranium to more than double between now and 2040.
3. GE Vernova
Last but not least, add GE Vernova (GEV +2.78%) to your list of stocks that could be buoyed sooner rather than later by the AI-driven nuclear power renaissance now underway.
Yes, this is the energy-focused offshoot of the old General Electric that finally began breaking itself up into more manageable pieces back in 2022, although it's hardly a nuclear "pure play." Less than 5% of its current revenue is nuclear-related, in fact. Its predominant business is natural gas-powered turbines, which are just as clean in terms of their total carbon footprint.
It's still a smart way to invest in the artificial intelligence industry's surging demand for electricity, however, for a couple of reasons.
NYSE: GEV
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One of those reasons is that through its partnership with heavy equipment company Hitachi, GE Vernova is still in the nuclear reactor business, even if it doesn't sell one every quarter, or even every year. In the meantime, it still offers technical solutions to maintain and improve the performance of existing nuclear power plants. If the nuclear power business is growing again, sooner or later it's going to bring this branch of GE Vernova with it.
The other reason GEV is a smart play right now is that it's positioned to be a stopgap solutions provider while the world preps for nuclear power's next chapter. Whereas it can take years to get a brand-new nuclear power facility up and running, artificial intelligence data centers need electricity now. Gas turbines are proven and ready to deliver. GE Vernova can start delivering for its shareholders right here and now. And it is.
This might make the point: While the company did $38 billion worth of business in 2025 (up 9% year over year), its backlog grew by more than $31 billion to $150 billion. It's a testament to the AI-driven explosion in demand for electricity.
