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Nuscale Power

All articles tagged with #nuscale power

SpaceX Eyes Hidden Nuclear Stock to Power Its AI Data Centers
business22 days ago

SpaceX Eyes Hidden Nuclear Stock to Power Its AI Data Centers

The Motley Fool argues SpaceX has ample capital post-IPO to fund growth, especially its AI drive and orbital data centers. A little-known nuclear stock, NuScale Power, which designs small modular reactors (SMRs), could offer a fast, scalable way to power SpaceX’s terrestrial data centers. With SMR designs and a roughly $4B market cap, the article suggests SpaceX could pursue an energy diversification strategy that might even involve acquiring an SMR stock to accelerate its energy sourcing as its data-center ambitions expand.

via The Motley Fool|
#ai#business#data-centers
Amazon-Backed X-Energy IPO Spurs SMR Rivalry as Oklo, NuScale Drop
business2 months ago

Amazon-Backed X-Energy IPO Spurs SMR Rivalry as Oklo, NuScale Drop

X-Energy’s Nasdaq debut surged about 27% on its first day, drawing investor interest and pushing valuation near $12 billion, while existing SMR players Oklo and NuScale Power fell on the news. The $1 billion IPO, led by Amazon and others, intensifies competition in the small modular reactor space as Nvidia ties reinforce Oklo’s position and analysts point to upside in NuScale. The move highlights continued market attention on clean energy tech and AI-powered demand driving nuclear stock dynamics.

via TipRanks|
#amazon#business#nuscale-power
NuScale Power's 6-GW SMR Deployment Boosts Stock and Industry Milestone
business10 months ago

NuScale Power's 6-GW SMR Deployment Boosts Stock and Industry Milestone

NuScale Power's stock has surged nearly 400% over the past year due to increased interest in small modular reactors (SMRs), driven by government policies in the US and UK supporting nuclear energy development. Despite the rapid stock increase and major deals like the TVA contract, analysts remain cautious with a neutral rating and a modest price target, citing uncertainties about cost competitiveness and industry credibility.

via TipRanks|
#business#energy-policy#nuclear-energy
NuScale Power Implements Significant Workforce Reduction to Drive Cost Savings
business-energy2 years ago

NuScale Power Implements Significant Workforce Reduction to Drive Cost Savings

NuScale Power, a utility firm specializing in small modular reactor technology, is laying off 28% of its workforce, amounting to 154 full-time employees, in a cost-saving effort expected to yield $50-60 million in annualized savings. Despite receiving design certification for its SMR technology, NuScale has faced financial challenges and recently terminated a project in partnership with a Utah power company. The company's shares fell over 3% following the announcement, and it expects to incur a $3 million charge related to severance costs in the first quarter.

via Reuters|
#business-energy#cost-saving-measures#layoff
"Nuclear Energy Projects in Idaho and Utah Canceled as Costs Soar"
energy2 years ago

"Nuclear Energy Projects in Idaho and Utah Canceled as Costs Soar"

NuScale Power has announced the cancellation of its Carbon-Free Power Project, which aimed to deliver six small nuclear reactors in Idaho. The project failed to attract enough utility customers, despite more than two dozen utilities signing up to buy electricity from the reactors. The decision to cancel the project was influenced by the rising cost of building the reactors, which had increased to $9.3 billion from $5.3 billion due to rising interest rates and inflation. NuScale's stock price fell over 20% following the announcement.

via The New York Times|
#cancelation#carbon-free-power-project#energy
"Nuclear Energy Projects in Idaho and Utah Canceled as Costs Surge"
energy2 years ago

"Nuclear Energy Projects in Idaho and Utah Canceled as Costs Surge"

NuScale Power has announced the cancellation of its Carbon-Free Power Project, which aimed to deliver six small nuclear reactors in Idaho. The project failed to attract enough utility customers, despite more than two dozen utilities signing up to buy electricity from the reactors. The decision to cancel the project was influenced by the rising cost of building the reactors, which had increased to $9.3 billion from $5.3 billion due to rising interest rates and inflation. NuScale's stock price fell over 20% in after-hours trading, and the company plans to repurpose materials developed for the project for other customers.

via The New York Times|
#cancelation#carbon-free-power-project#energy