Nuclear power is renewable, carbon-neutral, and cheap to produce. However, the high up-front costs of building a new nuclear power plant have impeded nuclear deployment in the U.S.
But a new crop of nuclear start-ups hopes to change that by building small modular reactors (SMRs), which would have a much smaller footprint and lower construction costs than a traditional power plant. One of the first movers in this potentially revolutionary industry is NuScale Power (SMR +7.59%), the first SMR company with designs approved by the Nuclear Regulatory Commission (NRC).
The company is speculative and its stock is volatile, but it could be the ticket to millionaire status for risk-tolerant investors. Here’s why.
Image source: Getty Images.
From design to reality
Excitement around SMR technology surged in 2025, and so did the stock prices of NuScale and SMR-focused rivals like Oklo (OKLO +7.77%). At its peak, NuScale had a market cap of nearly $9 billion and a stock price of over $50/share.
But just as the industry began to see concrete progress toward deployment of their long-awaited technology, investors soured on nuclear stocks. NuScale’s shares have been hit particularly hard over the last six months, tumbling more than 75% to less than $10/share. The company’s market cap now sits just below $3 billion.
Today’s Change
(7.59%) $0.69
Current Price
$9.86
Key Data Points
Market Cap
$3.1B
Day’s Range
$9.65 – $10.21
52wk Range
$9.14 – $57.42
Volume
7.3K
Avg Vol
24M
Gross Margin
33.84%
While the stock is still risky and speculative, NuScale has inked deals with the government of Romania and the Tennessee Valley Authority to deploy its technology, and is moving forward with both projects, although final approvals are still pending.
There are still big risks ahead for NuScale, but with a nuclear-friendly administration in the White House, this start-up’s shares could suddenly soar. Investors who are bullish on SMRs should give NuScale’s stock a fresh look at this newly discounted price.