Shares of Centrus Energy Corp. (LEU) surged 7.17% on Thursday, as the nuclear fuel and services company benefited from the growing interest in nuclear power from major technology giants like Amazon and Alphabet.
According to reports, Amazon and Alphabet have recently inked deals to invest in the development of small modular reactors (SMRs), an emerging nuclear technology that promises to provide clean and reliable energy for data centers and other large-scale operations.
The move by these tech giants to embrace nuclear power comes as they grapple with the increasing energy demands of their data centers and AI operations. With growing concerns over carbon emissions and the need for sustainable energy sources, nuclear power is seen as a viable solution to meet their immense energy needs.
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