Rising long term US and European bond yields are keeping borrowing costs elevated, which puts real pressure on energy projects that burn fuel and face volatile input prices. Reliable, carbon free baseload power that is not tied to commodity swings suddenly looks more attractive. That is where the Nuclear Renaissance screener comes in. This article walks through three stocks from the screener that showcase how this theme is playing out.

The three stocks in this article are just a starting sample, and the full Nuclear Renaissance screen surfaced 89 more companies with equally compelling stories that are not covered here. To go deeper, analyze and identify your own highest conviction nuclear infrastructure plays directly in the Nuclear Renaissance screener.

Cameco (TSX:CCO)

Overview: Cameco is a Canadian company that mines uranium and processes it into nuclear fuel, and through its stake in Westinghouse supplies reactor technology and services for nuclear power plants worldwide.

Operations: Cameco generates revenue mainly from uranium at about CA$2.9b, fuel services at about CA$551 million, and its Westinghouse segment at about CA$3.4b, with smaller contributions and unallocated adjustments making up the rest.

Market Cap: CA$59.0b

Cameco sits at the center of the nuclear theme investors are watching, with Tier 1 uranium assets, a contract book that has been expanding, and a 49% stake in Westinghouse that ties it directly to new reactor builds such as AP1000 projects backed by US Department of Energy loan support. Analysts currently expect increases in earnings and revenue, although the stock trades on higher valuation multiples and has recently seen margin pressure and an earnings miss partly linked to Westinghouse. Operational issues at McArthur River and Cigar Lake, plus slower long term contracting, illustrate the risks if new projects take longer to materialize. For investors who want nuclear exposure across both fuel and reactors, Cameco provides a combination that the market is still debating how to price.

Cameco’s mix of Tier 1 uranium assets and reactor exposure has investors focused on growth, yet the real story sits in how the market is weighing that against recent execution questions in the 2 key rewards and 1 important warning sign

Build your own nuclear infrastructure shortlist

Cameco and the other two stocks in this article all came from a single screener, but your best ideas will often come from filters tuned to what matters most to you. Use our flexible Screener to mix metrics like valuation, future growth, balance sheet strength and risks into your own watchlist, or start with any of our curated Investing Ideas.

NuScale Power (SMR)

Overview: NuScale Power develops small modular reactor technology that uses factory built light water reactors, each designed to generate 77 megawatts of electricity, to support grid power, industrial users and future data center demand. Beyond the reactor design itself, the company sells licensing, engineering, construction support and ongoing operation and maintenance services for nuclear power plants built around its modules.

Operations: NuScale Power currently generates about US$11 million in revenue from electric utility related services in the United States.

Market Cap: US$4.0b

NuScale Power stands out in the Nuclear Renaissance theme because it already holds US Nuclear Regulatory Commission design certification for its small modular reactor and is working on large projects like the proposed ENTRA1 Energy and TVA deployment of up to 6 GW and the RoPower project in Romania. That regulatory lead, plus a reported US$1.9b cash balance and no debt, gives the company time to try to convert interest from utilities and energy hungry data centers into binding power purchase agreements. At the same time, NuScale is still loss making, has seen shareholder dilution and remains pre revenue in practical terms. As a result, the key question for investors is how and when that technology lead becomes long term contracted cash flows.

NuScale Power’s NRC approved reactor design and reported US$1.9b cash pile give the story real fuel, yet the real twist sits inside the analyst forecasts for NuScale Power that could reshape how this risk actually plays out

GE Vernova (GEV)

Overview: GE Vernova is an energy infrastructure company that supplies the turbines, grid equipment, software, and storage systems that keep electricity flowing from power plants to AI data centers, factories, and homes across multiple regions worldwide.

Operations: GE Vernova generates about US$21.0b from Power, US$12.2b from Electrification, and US$8.5b from Wind, with modest offsets from other and intersegment items.

Market Cap: US$283.2b

GE Vernova is drawing attention because it sits at the heart of surging electricity demand from AI data centers and grid upgrades, backed by a large installed base of roughly 7,000 gas turbines and an order backlog around US$176b that supports years of work. The Power and Electrification segments are producing stronger margins and sizeable free cash flow, while the Wind business and legacy offshore contracts remain a drag that could pressure earnings and keep periodic headlines negative. Investors are weighing a P/E below many peers and strong ROE against risks such as one off gains in recent results, wind losses, insider selling, and a relatively new board. For anyone following the Nuclear Renaissance theme, GE Vernova offers a broad power infrastructure story with multiple factors for investors to consider.

GE Vernova’s surging order backlog and broad grid footprint hint at a story that many investors may be treating as just another industrial. The real tension between its P/E level, Power strength and Wind drag jumps out once you see the 4 key rewards and 2 important warning signs

Seeking Alternatives Before The Crowd

Fresh opportunities can move from quiet to crowded quickly. Some stocks are building momentum, others are dropping back under the radar for now. Scan these ideas before the best entry points fly past. Consider reviewing the following:

• Spot companies aiming for durable income streams by reviewing the curated 4 dividend fortresses before yields and valuations shift away from today’s setup.
• Target potential compounding machines early by scanning the hand picked 9 high quality undiscovered gems while they are still flying below most investors’ radars.
• Zero in on balance sheets that can handle shocks by working through the curated list of solid balance sheet and fundamentals (12 results) before the crowd starts paying closer attention.

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.