AI data centers, electric vehicles and electrified industry are keeping pressure on power grids at the same time that inflation, interest rates and energy price swings keep grabbing headlines. Against that backdrop, the Nuclear Renaissance screener focuses on companies tied to reliable, carbon-free baseload power that can run 24/7. That is a key requirement for energy-hungry computing and climate targets. This article explains why this theme is relevant at the moment and then walks through 3 notable stocks from the screener, helping you see where some investors are looking for long-term exposure to nuclear-linked infrastructure.

AtkinsRéalis Group (TSX:ATRL)

Overview: AtkinsRéalis Group is a Montreal based engineering and project management company that works across infrastructure, power, nuclear and defense, providing consulting, design, construction management and long term asset support for clients around the world.

Operations: AtkinsRéalis generates most of its CA$11.5b in segment revenue from Engineering Services in the UKI (CA$2.8b), USLA (CA$2.1b) and Canada (CA$1.5b), alongside a sizeable Nuclear segment of CA$2.5b and CA$1.3b in segment adjustments.

Market Cap: CA$13.1b

Investors watching the Nuclear Renaissance theme may see AtkinsRéalis Group as a way to link large scale nuclear contracts and AI hungry grid projects with a broad engineering platform. The company’s record nuclear backlog, new alliances on small modular reactors and long term roles on UK projects like Hinkley Point C and Sizewell C point to years of contracted work. Its engineering services in transport, water and data center power add diversification. At the same time, earnings are forecast to shrink and the business still carries risks from complex projects, acquisition integration and reliance on nuclear contract wins. How those strengths and vulnerabilities balance out is what makes AtkinsRéalis worth a closer look for long term infrastructure and energy investors.

AtkinsRéalis looks wired into multiyear nuclear and grid work, yet shrinking earnings forecasts raise questions about how durable that story really is. It may be helpful to read the 5 key rewards and 3 important warning signs (2 are major!).

NuScale Power (SMR)

Overview: NuScale Power develops and sells small modular reactor technology, using factory built light water reactors that can be combined in modules to supply carbon free electricity for utilities, data centers and industrial customers. Alongside the reactors themselves, NuScale offers licensing, engineering, plant operations support and training so buyers can plan, build and run nuclear facilities using its design.

Operations: NuScale currently generates its US$18.7m in revenue from electric utility related services in the United States.

Market Cap: US$3.8b

NuScale Power sits at the center of the small modular reactor theme, with an NRC approved design, early stage projects such as the RoPower plant in Romania and a 6 GW plan with TVA that could matter for data center and grid operators if they move ahead. Analysts are expecting very rapid revenue growth but also see ongoing losses, so the focus is on securing funding, binding power purchase agreements and managing cash burn as projects move from studies to construction. For readers looking to understand how those commercialization milestones, liquidity risks and the ENTRA1 partnership fit together for this nuclear pure play, there is more to consider than headline projections alone.

NuScale Power’s story hinges on huge projected revenue growth against ongoing losses and funding questions, so the next step is seeing how the analyst forecasts for NuScale Power stack up against those commercialization risks that few are really talking about yet.

Oklo (OKLO)

Overview: Oklo is a Santa Clara based advanced nuclear company developing compact Aurora Powerhouse fission plants designed to supply between 15 and 75 megawatts of electricity, as well as recycling used nuclear fuel into fresh fuel for its own reactors across power, heat and radioisotope applications.

Market Cap: US$10.2b

Oklo sits where new federal support for advanced reactors, a vertically integrated fuel strategy and a reported 14 gigawatt pipeline of interest from customers such as Meta come together. This gives investors exposure to compact nuclear reactors aimed at data centers, utilities and defense. The company currently has no revenue, is loss making and relies on external funding, which makes execution on projects like Aurora-INL, the Tennessee fuel facility and isotope production crucial. At the same time, recent DOE milestones, HALEU supply agreements and surplus plutonium programs are starting to address the fuel and licensing bottlenecks that many see as the biggest risks. Some investors are watching Oklo closely as a high risk, high potential way to play the Nuclear Renaissance theme.

Oklo’s high risk, high potential nuclear story is easy to headline, but the real tension is how its pipeline, fuel plans and funding needs fit together. This is exactly what the analyst forecasts for Oklo starts to unpack.

The three stocks in this article are only a starting point. The full screener of nuclear-linked infrastructure plays surfaces 85 more companies with equally compelling narratives through the Nuclear Renaissance screener. Use Simply Wall St to identify, filter and analyze the specific catalysts, contracts, balance sheets and narrative triggers that matter to you so you can focus on the highest conviction Nuclear Renaissance opportunities.

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If AtkinsRéalis Group or any of these companies have caught your attention, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value and track any new developments as they happen. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Fresh Alternatives Before They Fly?

Some of the most promising breakout stories are still under the radar for now, but that window closes fast as momentum builds and prices move. Consider getting in early.

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• Review the curated 34 power grid technology and infrastructure stocks while they are still priced for caution instead of full throttle grid modernization.

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.