Will Uranium Stocks Extend Rally as Big Tech Plunges Ahead on Nuclear Energy to Power Data Centers?
$Microsoft (MSFT.US)$ is seeking to hire a principal program manager of nuclear technology to lead the implementation of a global small modular reactor (SMR) and microreactor energy strategy. The purpose of this strategy is to power the data centers on which Microsoft Cloud and AI reside on.
With grids around the world struggling, power availability has become a critical bottleneck for data center builders. While solar and wind are becoming popular energy solutions, they are not reliable enough to power a data center as they depend on weather conditions.
Data center operators are looking to SMRs as a potential solution to power constraints. By using SMRs, data centers can achieve energy independence. This energy source holds the key to unlocking the full potential of AI.
Could nuclear-powered data centers see some positive flow for uranium and names like $Cameco (CCJ.US)$ and $NexGen Energy (NXE.US)$?
High demand for nuclear fuel is combining with enthusiasm to boost uranium associated stocks. As a result, spot uranium and uranium miners have been among the top-performing commodity and mining equities groups this year, outperforming the $S&P 500 Index (.SPX.US)$'s gains.
The market has been slowly building higher prices as mining costs rise and nuclear generators look to build stocks to guard against increasingly risky supply-side issues," said SP Angel mining analyst John Meyer.
We see prices rising year-on-year for next 10-20 years or till the world finds another source for large scale un-interruptible base load power with a low carbon footprint."
Source: Data Center Dynamics
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