Shares of nuclear power soared in premarket trading after a Reuters report said U.S. President Donald Trump will sign executive orders aimed to jumpstart the nuclear energy industry as soon as Friday.
Trump is expected to streamline the regulatory process for new reactor approvals and enhance fuel supply chains, four sources familiar with the matter told Reuters.
Uranium miners led the gains with Uranium Energy up 11.8%, Energy Fuels climbing 13.2%, and Centrus Energy surging 19.6%.
Nuclear utilities Constellation Energy rose 5.5%, GE Vernova was up 3.3% and Vistra added 4%.
Sam Altman-backed nuclear startup Oklo Inc jumped 16%, while Nano Nuclear Energy soared 15.8%. NuScale Power, which develops nuclear technology, added 14.1% and Global X Uranium ETF surged 9%.
The United States is facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared an energy emergency on his first day in office.
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