NuScale Power, a leading provider of advanced small modular reactor (SMR) technology, saw its stock soar by 5.04% in pre-market trading on Wednesday. This surge can be attributed to the increasing demand for reliable and clean energy solutions to power the rapidly growing artificial intelligence (AI) and data center industries.

With data centers expected to double their energy consumption by 2030 due to the exponential growth of AI workloads, companies are urgently seeking secure and sustainable energy sources. NuScale Power's proprietary SMR technology is well-positioned to address this need, offering a near-term and cost-effective solution for uninterrupted power supply.

The company has already secured regulatory approval and supply chain partnerships for its SMR technology, making it the frontrunner in this emerging market. Additionally, NuScale Power has received significant interest from major tech companies seeking to support their AI and high-performance computing operations while adhering to their net-zero emission targets.