• In early August 2026, Curio announced a Memorandum of Understanding with NuScale Power and Framatome to assess an integrated, closed-loop nuclear fuel solution using Curio’s NuCycle recycling technology to support domestic and international nuclear fuel supply chains.
• This collaboration highlights growing industry interest in pairing NuScale’s small modular reactor platform with advanced fuel-cycle technologies that aim to reduce waste volumes and strengthen long-term nuclear energy security.
• We’ll now examine how this fuel-cycle collaboration with Curio and Framatome may reshape NuScale’s investment narrative and long-term positioning.

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NuScale Power Investment Narrative Recap

To own NuScale today, you have to believe small modular reactors can convert years of engineering work and partnerships into firm contracts and eventual cash flows. The Curio and Framatome fuel-cycle MOU supports NuScale’s long-term positioning around waste reduction and fuel security, but it does not directly change the near term need for a flagship power purchase agreement or the immediate risk that minimal revenue and ongoing losses continue to weigh on the business.

Against that backdrop, NuScale’s latest Q2 2026 results stand out more than the fuel-cycle news. Sales were just US$75,000 for the quarter versus US$8.05 million a year earlier, with a net loss of US$47.54 million. For investors focused on catalysts, this earnings trend keeps the spotlight on whether NuScale can translate its partnerships, including Curio and Framatome, into binding customer commitments before its cash position and dilution risk become a more pressing concern.

Yet beneath the promise of advanced fuel recycling, investors should also be aware that...

NuScale Power's narrative projects $367.3 million revenue and $41.3 million earnings by 2029. This requires 170.0% yearly revenue growth and a $427.1 million earnings increase from -$385.8 million today.

Uncover how NuScale Power's forecasts yield a $14.57 fair value, a 47% upside to its current price.

Exploring Other Perspectives

While consensus remains cautious, the most optimistic analysts once modeled revenue climbing to about US$616 million and earnings turning positive by 2029, which contrasts sharply with the ongoing dependence on unfinalized ENTRA1 and TVA contracts; the Curio MOU could prompt both camps to revisit how much of that upside, or downside, still feels realistic.

Explore 11 other fair value estimates on NuScale Power - why the stock might be worth over 10x more than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your NuScale Power research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free NuScale Power research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate NuScale Power's overall financial health at a glance.

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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.