Big Tech's Energy Needs Sends Canadian Uranium Stocks Higher -- Market Talk

Dow Jones

2024-10-17

1234 ET - Technology companies are choosing the nuclear option to meet the electricity demands of artificial intelligence and other tech-forward innovations, boosting investor interest in Canada's major uranium producers. The latest driver is Amazon's deal with Dominion Energy Virginia to develop new technology for small modular reactor development in Virginia, sending Canadian uranium stocks higher. Among the top gainers in Canada were Energy Fuels, Denison Mines, Cameco and NexGen Energy rising on the prospect of supplying growing demand for nuclear reactor fuel. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

October 16, 2024 12:34 ET (16:34 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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