Artificial Intelligence (AI) is often called a once-in-a-civilization technology. Some experts say that the last 50 years of internet innovation may one day look as outdated as black-and-white television. But here’s the catch: AI consumes an enormous amount of energy.

Data centers, the backbone of AI require continuous, 24/7 electricity. Solar and wind power are helpful but intermittent. AI doesn’t pause, so we need reliable energy sources. That’s where NuScale Power Corporation (ticker: SMR) comes in.

Let’s break down why investors are paying attention to this $20 stock.

Read: Nuclear & AI-Power Stocks to Watch in 2026 our full beginner's guide to the nuclear and AI-power names, with NuScale among them.

Read: Top Clean Energy Stocks to Watch in 2026 the wider energy-transition trend NuScale is part of.

What NuScale Power Does

Founded in 2007, NuScale Power develops small modular nuclear reactors (SMRs) designed to provide safe, scalable, carbon-free electricity.

Their main product, the NuScale Power Module (NPM), offers:

• 77 megawatts of electricity per module
• 250 megawatts thermal
• Modular design: combine 4, 6, or 12 modules for up to 924 megawatts

This modular approach allows customers to start small and scale as needed, unlike traditional nuclear plants that take a decade to build.

Key differentiator: NuScale is currently the only SMR company with reactor design approval from the U.S. Nuclear Regulatory Commission (NRC) a huge regulatory milestone.

Why Small Modular Reactors (SMRs) Are Different

Traditional nuclear plants are large, expensive, and slow to build. SMRs flip that model:

• Smaller and factory-built
• Faster deployment potential
• Flexible configurations

NuScale’s reactors are based on proven pressurized water-cooled technology, reducing experimental risks.

These reactors are not just for electricity, they can also support:

• AI data centers
• District heating
• Desalination
• Hydrogen production
• Industrial heat

Stock Momentum & Sector Sentiment

At the time of writing, NuScale stock had gained about 37% since the start of the year.

• Government policy support: $2.7 billion awarded to uranium enrichment companies lifted sector sentiment.
• Nuclear energy is back in policy discussions, attracting investor attention.

Read: Is Oklo (OKLO) Stock a Buy After Meta’s Nuclear Deal? a fellow next-generation nuclear name beginners often compare with NuScale.

What the Numbers Say

Revenue Growth:

• Q3 2025 revenue: $7.8M, driven by engineering work for the RoPower SMR project in Romania.
• Shows early commercialization and real project engagement.

R&D Expenses:

• Decreased by $1.1M year-over-year, reflecting a shift from development to execution.

Investment Income:

• Increased by $3.8M due to higher cash reserves and short-term investments.

Valuation:

• SMR trades at a very high multiple of sales, reflecting high expectations.
• NuScale has not yet built a full-scale SMR plant, so this is a high-risk, high-potential growth story.

Major Developments Driving Attention

• ENTRA1 & $25B U.S. infrastructure plan: NuScale supports large-scale nuclear deployments.
• Romania project: Six NuScale Power Modules underway, generating $7.8M in Q3 revenue.
• Tennessee Valley Authority (TVA) & ENTRA1: Up to 6 gigawatts of SMR capacity planned largest in U.S. history.
• NRC Standard Design Approval: Critical milestone for deploying reactors.
• Partnership Milestones: Revenue tied to real execution milestones, not just promises.

Risk vs Opportunity

NuScale is not a low-risk stock. It depends on:

• Project execution
• Regulatory timelines
• Infrastructure deployment

This is long-term infrastructure investing, not next-quarter earnings speculation. But if projects succeed, the upside could be significant.

NuScale Power sits at the crossroads of:

• Artificial Intelligence
• Energy infrastructure
• Nuclear innovation

It has regulatory approval, partnerships, growing revenues, and sector momentum, but also carries execution risk and high expectations. That tension is why investors are watching it closely.

Read: 3 AI Stocks With Long-Term Growth Potential for the broader AI theme driving this energy demand.

If you’re tracking high-potential energy stocks, keep an eye on NuScale (SMR). Sign up for alerts or follow our blog for regular updates on AI, energy, and infrastructure stocks.

Update — Mid-2026: A Volatile Ride Back Below $10

Since this article, NuScale lived up to its “high-risk” label in dramatic fashion. Over the past year the stock swung from a 52-week high around $57 down to a 52-week low near $8.55, and as of mid-July 2026 it trades around $9, well below the roughly $20 level when this piece was written. Momentum cooled after reports questioning how quickly small modular reactors can actually be commercialized.

On the business side, the story kept progressing: NuScale ended Q1 2026 with about $1 billion in liquidity and continued advancing the Tennessee Valley Authority (TVA) program mentioned above. Wall Street now sits at a “Hold” rating (17 analysts), with an average 12-month price target around $15, above today’s price, but far below last year’s highs.

This is a textbook example of why the article called SMR “high-risk, high-potential.” The technology, the NRC approval, and the partnerships are real, but a company still years from full-scale revenue can round-trip hard when expectations reset. For a beginner, the signposts to watch are the same as before, just sharper now: cash burn against that $1 billion in liquidity, concrete TVA and deployment milestones, and whether commercialization timelines firm up.

Read: Nuclear & AI-Power Stocks to Watch in 2026 see how NuScale stacks up against Oklo, Vistra, Constellation and Cameco.

Disclaimer

This article is for educational and informational purposes only and does not constitute financial advice. Nothing here should be considered a recommendation to buy or sell any security. Always conduct your own research.