Alternatives to Kairos Power
Because Kairos Power hasn't held an IPO, most people can't power their portfolios with its stock. People who qualify as accredited investors, however, may gain exposure to Kairos Power before its IPO through a platform like Forge Global (FRGE -7.08%).
For those who don't qualify as accredited investors but are still interested in gaining exposure to nuclear energy, there are other opportunities they may wish to consider.
1. Oklo
Like Kairos Power, Oklo (OKLO -8.12%) is another company developing a novel approach to nuclear power reactors. Unlike massive conventional nuclear power plants, Oklo has designed small modular reactors (SMRs) that can also use recycled fuel, helping address the problem of nuclear waste. Backed by OpenAI's Sam Altman, Oklo has received considerable interest from data center operators.
The company also parallels Kairos Power in that both are in the pre-revenue phase of their development, so those who were keen on adding a growth stock to their portfolios with Kairos Power might do the same thing with Oklo.
Potential investors will want to keep a close eye on the company's advancement of its first Oklo commercial facility, dubbed Aurora Powerhouse, at Idaho National Laboratory in 2027.
2. NuScale Power
Brandishing itself as "the first and only SMR to have its design certified by the U.S. Nuclear Regulatory Commission," NuScale Power (SMR -6.52%) is another nuclear power upstart that might appeal to those interested in Kairos Power. NuScale Power offers its VOYGR SMR Power Plants in various configurations to meet its customers' power needs.
Potential investors might want to be wary of the stock, however. The company's first-quarter 2026 revenue fell 95.8% year over year, and its Q1 2026 net loss plunged 214.3% over the same period. Free cash flow fell to -$316.2 million, a 1,283% year-over-year decline. Although the figures look bad, they may reflect how the company earns money; since it's not selling operating reactors yet, its revenues are tied to meeting specific project milestones, such as an engineering study for a Romanian project in Q1 2025. And on the bright side, NuScale reported having about $1 billion in cash, short-, and long-term investments.
3. Cameco
For investors seeking broader exposure to the nuclear energy industry, Cameco (CCJ -0.08%) warrants further investigation. As one of the world's largest producers of uranium, Cameco has several premier assets that have the capacity to annually produce more than 30 million pounds of uranium concentrates. Questions about Cameco's future uranium production are assuaged when recognizing that the company has roughly 485 million pounds of proven and probable mineral reserves.
Besides uranium production, Cameco keeps the lights on through its uranium processing services, which include refining, conversion, and fuel manufacturing. Plus, the company has a 49% ownership position in Westinghouse -- Brookfield Renewable Partners (BEP -1.63%), which is an original equipment manufacturer of nuclear reactor technology and a provider of aftermarket products for nuclear power plants, has the remaining 51% equity stake.
