NuScale Power Corp (SMR) saw its shares surge 5.38% on Thursday's intraday trading, following expectations that the Trump administration will provide strong support for nuclear energy, particularly advanced small modular reactor (SMR) technologies that NuScale specializes in.

According to investment firm Tema ETFs, the new administration under President Trump is highly interested in backing nuclear power and accelerating its revival. While cautioning that new nuclear technologies take around 10 years for approval, analysts predict Trump's policies could speed up the emergence of SMRs.

SMRs are next-generation nuclear reactors capable of generating around one-third the output of traditional nuclear power plants while requiring less physical space. These low-carbon energy sources are viewed as a stable complement to renewable sources like wind and solar. With Trump's pro-nuclear energy stance and the appointment of Chris Wright, a nuclear advocate, as the new U.S. Energy Secretary, investors are increasingly optimistic about the prospects for companies like NuScale Power in the SMR market.