NuScale Power surges on discount to recent highs

NuScale Power (NYSE: SMR) surged 16.28% on April 22, closing at $13.57, driven by fresh coverage highlighting its discount to recent highs and potential within a projected $10 trillion nuclear revival. The company, a developer of small modular reactors (SMRs), is the only U.S. entity with an NRC-approved SMR design, positioning it at the intersection of two powerful tailwinds: artificial intelligence infrastructure and clean energy.

The rally in NuScale Power has implications for the broader nuclear energy sector and SMR businesses. As investors seek exposure to the nuclear revival, companies like NuScale and Oklo (NYSE: OKLO) may see increased interest, potentially driving further valuation repricing in the sector.

Investors should monitor NuScale's progress towards commercialization and regulatory approvals. Upcoming catalysts include NuScale's Q1 2023 earnings release on May 11 and the Nuclear Regulatory Commission's (NRC) final approval for NuScale's Power Module, expected in late 2023.