Shares of Centrus Energy Corp. (LEU) surged 10.22% in morning trading on Wednesday, riding the wave of optimism surrounding the nuclear energy sector and the company's strategic position in the upcoming nuclear power renaissance.
The bullish sentiment for nuclear energy stocks has been fueled by a series of major deals and investments by technology giants like Microsoft, Google, and Amazon, who are turning to nuclear power to fuel their booming artificial intelligence (AI) and data center operations. This has sparked a rally in stocks like NuScale Power, Oklo, Cameco, and Centrus Energy, which are poised to benefit from the increasing demand for reliable and clean energy sources.
Centrus Energy, a leading supplier of nuclear fuel components and services, has been at the forefront of this resurgence. The company recently inaugurated the first new U.S.-owned uranium enrichment plant to begin production since 1954, positioning itself as a key player in the domestic nuclear fuel supply chain. Additionally, Centrus has delivered High-Assay Low-Enriched Uranium (HALEU) to the U.S. Department of Energy, a critical component for the next generation of small modular reactors (SMRs).
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