Energy Fuels Inc (UUUU), a leading producer of uranium for nuclear reactors, saw its stock soar by 9.36% in the past 24 hours, fueled by growing interest and investment in nuclear energy from major tech companies like Google and Amazon.
As tech giants pursue clean and reliable power sources for their ever-expanding data centers, they have turned their attention to nuclear energy. Last week, both Google and Amazon announced significant investments in the development and construction of new types of nuclear reactors, signaling a resurgence in the nuclear industry.
This surge in demand for nuclear power has buoyed the stocks of companies involved in the nuclear energy supply chain, including those that design, build, and fuel reactors. Energy Fuels, a prominent supplier of uranium for nuclear reactors, has benefited from this trend, as evidenced by its stock's impressive performance in the premarket trading on the day the news broke.
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