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Nuclear Power: The Real AI Infrastructure Play?
22 Sep
Summary
- GE Vernova boasts a massive $176.3 billion backlog.
- Oklo's large pipeline relies on non-binding agreements.
- NuScale faces regulatory hurdles for reactor deployment.
The significant power demands of artificial intelligence are driving interest in nuclear energy infrastructure companies, including Oklo, NuScale Power, and GE Vernova. While Nvidia garners most attention, these companies are essential for powering the AI revolution.
GE Vernova stands out with a substantial contracted backlog of $176.3 billion as of the second quarter of 2026. This figure includes contributions from its Gas Power and Nuclear Power businesses, providing a stable revenue stream independent of nuclear sector growth.
Oklo presents a large customer pipeline totaling approximately 14 gigawatts. However, most of this demand is based on non-binding master agreements and Letters of Intent, requiring conversion into firm contracts.
NuScale Power has made strides in regulatory and engineering advancements, notably with its Romania project and ongoing discussions with TVA. Despite this progress, its reactors are not anticipated to be deployable until the early 2030s, potentially delaying their impact on current AI data center power needs.
