Nuclear Power — Aug 31 – Sep 4, 2026 (Wk 36): Nuclear Power Week: Oklo Project Pulled, NuScale Steady, New IPO, and AI Demand

TL;DR — This week saw a mixed bag for nuclear power stocks, with Oklo experiencing a setback as a key project was pulled, while NuScale Power remained relatively stable. A new nuclear power company, Holtec, announced an IPO, and the broader sector continued to be linked to growing energy demand from AI and big tech companies.

What moved

• Oklo's Meta-backed Ohio project was pulled by PJM, leading to a 5% drop in Oklo's stock, while NuScale Power's stock was largely unaffected. This highlights the project-specific risks within the small modular reactor (SMR) sector, where the success or failure of individual projects can significantly impact a company's valuation. [24/7 Wall St.]
• NuScale Power continued to be viewed positively by Wall Street analysts, with some remaining bullish on the stock. This suggests a continued belief in NuScale's SMR technology and its potential market position, despite the broader sector's volatility. [The Motley Fool] [The Globe and Mail]
• A former US Nuclear Regulatory Commission Chair joined the board of an SMR stock, which led to overnight gains for that company. The addition of experienced regulatory figures can signal increased confidence in a company's ability to navigate the complex regulatory landscape of nuclear power, potentially easing investor concerns. [Stocktwits]
• Holtec Nuclear announced an upcoming IPO, introducing a new publicly traded option for investors interested in the nuclear power sector. This expansion of available investment vehicles indicates growing interest and capital flow into the industry. [tradingview.com]
• Cathie Wood's Ark Invest continued to sell Roblox stock while purchasing shares in nuclear supplier BWX Technologies, suggesting a strategic shift towards nuclear power stocks. This move by a prominent investment firm can draw attention to the sector and potentially influence other investors. [Pluang] [The Motley Fool]

The why behind the week

• The increasing energy demands from artificial intelligence (AI) and big tech companies like Microsoft and Meta are driving interest in nuclear power, particularly small modular reactors (SMRs). These companies are signing multi-decade nuclear power deals, positioning nuclear energy as a key solution for reliable, clean, and scalable power, which directly benefits companies involved in SMR development and nuclear power supply. [foreignpolicyjournal.com] [24/7 Wall St.] [The Globe and Mail]
• The competition between NuScale Power and Oklo for market share in the SMR space is a recurring theme, with analysts frequently comparing their investment potential. The performance of one company relative to the other, especially after significant events like project cancellations, helps investors assess which company might be better positioned for future growth in the evolving SMR market. [Yahoo Finance] [The Motley Fool]
• The broader global shift towards clean energy is creating a favorable environment for nuclear power and related uranium stocks. As countries aim to reduce carbon emissions, nuclear energy is seen as a viable, low-carbon option, which underpins the long-term demand for nuclear power generation and its fuel sources. [financialexpress.com] [The Motley Fool]

📄 Filings that matter (8-Ks, straight from EDGAR)

• $UUUU — completed an acquisition or disposition; unregistered equity sale [SEC filing] 2026-08-28
• $MIR — other events; exhibits [SEC filing] 2026-08-31

The macro backdrop

Every theme swims in this tide — judge the week’s moves against it.

What to watch next

• The market risk score is 41/100. A moderate market risk score suggests that while there isn't extreme volatility, investors should still consider the potential for market fluctuations, which can impact the broader performance of nuclear power stocks. [macro data]
• The median price-to-model-value across three stocks in this theme is 4.23x. This metric provides a valuation benchmark for the sector, indicating how current stock prices compare to their intrinsic value models. A higher multiple might suggest that stocks are trading above their modeled value, while a lower one could indicate the opposite, influencing investor perception of value. [SAVNG data]
• There were no recorded open-market insider buys (routine/10b5-1 stripped) in this theme this week. The absence of insider buying can be interpreted in various ways; it might suggest that insiders do not see their company's stock as undervalued at current prices, or it could simply be a quiet week for insider transactions, with no clear catalyst in our sources. [SAVNG data]
• Continued developments in the SMR sector, particularly regarding new project announcements, regulatory approvals, and operational milestones, will be important. These events directly impact the revenue potential and market acceptance of SMR technologies, which are central to the growth prospects of companies like NuScale Power and Oklo. [Yahoo Finance] [Stocktwits] [The Motley Fool] [The Globe and Mail] [24/7 Wall St.]
• The performance of new entrants to the public market, such as Holtec Nuclear following its IPO, will be a key indicator of investor appetite for nuclear power stocks. A successful IPO and subsequent trading performance could attract more capital to the sector, while a weak performance might signal caution. [tradingview.com]

This week’s headlines (sources)

• 3 Reasons Wall Street Analysts Remain Bullish on NuScale Power Stock — The Motley Fool, Sep 4
• Nuclear Stock Face-Off: Is NuScale Power or Oklo the Better Buy Right Now? — Yahoo Finance, Sep 4
• SMR Stock Gains Overnight: Former US Nuclear Regulatory Commission Chair Joins Board — Stocktwits, Sep 4
• Better Small Modular Reactor Stock to Buy After the Sell-Off: Oklo vs. NuScale Power — The Motley Fool, Sep 3
• Three Nuclear Power Stocks Positioned To Ride AI Energy Demand In September 2026: (NYSE: SMR), (NYSE: OKLO), (NYSE: GEV) — foreignpolicyjournal.com, Sep 3
• Wall Street Loves NuScale Power. Here's the Risk Analysts Are Glossing Over. — The Globe and Mail, Sep 3
• Holtec Nuclear IPO: A New Bet on the Nuclear Power Sector — tradingview.com, Sep 3
• Microsoft and Meta Signed Multi-Decade Nuclear Power Deals. These 3 Stocks Supply That Power — 24/7 Wall St., Sep 3
• 3 Uranium Stocks to Watch Amid Global Shift Towards Clean Energy — financialexpress.com, Sep 3
• Top Nuclear Stocks For September 2026 — Yahoo Finance, Sep 3
• Bird Construction And 2 Top Nuclear Energy Stocks — simplywall.st, Sep 2
• This Unstoppable Trend Could Mint the Industrial Sector's Next Big Winners — The Motley Fool, Sep 2
• What Is a Small Modular Reactor, and Why Is Big Tech Signing Multi-Decade Deals for Them? — The Globe and Mail, Sep 1
• Oklo Sinks 5% as PJM Pulls Its Meta-Backed Ohio Project, NuScale Power Barely Budges — 24/7 Wall St., Sep 1
• Roblox stock drops 3% as ARK Invest sells shares, shifting focus to nuclear power stocks. — Pluang, Sep 1
• Cathie Wood's Ark Just Bought $7.6 Million of Nuclear Supplier BWX Technologies While Continuing to Dump Roblox Stock. Is Nuclear Power Ark's Next Big AI-Adjacent Bet? — The Motley Fool, Sep 1

Every claim above cites its source — headlines link to the original outlet; [SAVNG data] marks our own EDGAR-computed figures. Where our sources don’t explain a move, we say so rather than guess. All weekly roundups →