Japan's 10-year government bond yield moving toward multi decade highs has refocused attention on where future base load power will come from as borrowing costs shift and legacy energy projects face tougher funding conditions. That creates an opening for investors who want exposure to businesses tied to long term, carbon free electricity. This article highlights three stocks from the Nuclear Renaissance screener that align with that theme.

The three stocks covered below are only a small sample of the Nuclear Renaissance idea, with the full screen surfacing 89 more companies that carry similarly detailed stories around long term, carbon free power. To size up this wider opportunity set and identify the companies that best fit your thesis, head straight into the Nuclear Renaissance screener.

NuScale Power (SMR)

Overview: NuScale Power develops and sells its NuScale Power Module small modular reactors, each rated at 77 MWe, alongside a full suite of design, licensing, construction, fuel management, and long term operations services that aim to deliver 24/7 carbon free baseload power for utilities and large energy users, including data centers. The company focuses on bringing NRC licensed SMR technology to market as a scalable alternative to fossil fuel and intermittent renewable generation.

Operations: NuScale Power generated about US$11 million of revenue from U.S. electric utility related activities, with all reported revenue coming from the United States.

Market Cap: US$4.0b

NuScale Power is attracting attention from investors looking at the Nuclear Renaissance theme because it already holds U.S. NRC design certification for its SMR technology and is working on projects such as TVA and Romania’s RoPower that could turn that regulatory lead into long term contracts. The company reports around US$1.9b in cash and investments and no debt, which gives it room to pursue commercialization, but it remains loss making and has relied on fresh equity that dilutes existing holders. Potential future changes in earnings would depend on whether NuScale can convert ongoing talks into firm power purchase agreements and manage supply chain and cost risks.

NuScale Power’s cash rich balance sheet and NRC licensed SMR design could be masking what really matters for long term shareholders. Get the full context in the 1 key reward and 3 important warning signs (1 is major!)

Oklo (OKLO)

Overview: Oklo develops Aurora Powerhouse small modular fission reactors that are intended to deliver 15 to 75 megawatts of 24/7 carbon free baseload power for data centers and other large energy users. It is also building a business around recycling used nuclear fuel into new fuel for its reactors. This ties Oklo directly to long term electricity contracts for AI and industrial customers rather than one off equipment sales.

Market Cap: US$7.8b

Oklo attracts attention from investors looking at the Nuclear Renaissance theme because it is aiming to own and operate Aurora Powerhouses and sell long dated power contracts that match the needs of AI data centers and other always on users, backed by in house fuel recycling. The company reports a strong liquidity position but has minimal revenue so far and reported a net loss of about US$33 million, with no commercial Aurora plants yet operating and reactor licensing still in progress after a prior NRC denial. Recent milestones such as the Groves reactor reaching criticality and Department of Energy approvals have added credibility to its execution. However, funding needs, regulatory risk and share price volatility mean the path to meaningful cash flow remains uncertain.

Oklo is pitching a rare combination of reactor ambition, fuel recycling and long dated power contracts that many investors may be only half pricing in. See how the analysis report for Oklo reframes the upside and the licensing risk twist

GE Vernova (GEV)

Overview: GE Vernova is an energy equipment and services company that helps utilities and large power users generate, move, and manage electricity through gas and nuclear turbines, grid hardware, and software. Its strongest link to the Nuclear Renaissance theme comes from the Power segment, which supplies and services nuclear steam turbines, generators, and life extension hardware that support 24/7 carbon free power, alongside sizeable wind and electrification businesses.

Operations: GE Vernova generates most of its revenue from Power at about US$21.0b, with additional contributions from Electrification at roughly US$12.2b and Wind at about US$8.5b.

Market Cap: US$254.8b

GE Vernova may be relevant if you are considering the hard infrastructure behind AI and decarbonization rather than only chips and software. The company combines a large installed base of gas and nuclear equipment, a US$176b backlog, and long term service contracts that can support more predictable cash flow as data center and grid projects build out. At the same time, heavy reliance on one off gains in recent earnings, a still weak Wind segment, and a funding mix tilted toward external liabilities highlight ongoing risks. A key consideration for investors is whether nuclear and grid services can compound steadily enough to outweigh those pressures and justify the current valuation of the stock’s quality story.

GE Vernova’s large installed base and US$176b backlog suggest a story investors may only be half seeing. Scan the 5 key rewards and 2 important warning signs to understand how its service engine and weaker Wind arm fit together.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.