NuScale Power Shares Remain Far Below Their Late-2025 Peak as Small Modular Reactor Hopes Persist

Small modular reactor developer NuScale Power (NYSE: SMR) has seen its stock settle well off the highs reached during last year’s surge of investor interest in nuclear energy, even as enthusiasm over nuclear power’s potential role in supplying AI data centers continues to shape the sector.

Shares were trading recently at $9.70, down 0.72% from the previous close of $9.77, giving the Portland, Oregon–based company a market capitalization of roughly $2.98 billion. That level stands in sharp contrast to mid-October 2025, when the stock touched its 52-week high of $57.42. At that time, investors were bidding up nuclear-related names on the expectation that power-hungry data center expansion could drive a broader nuclear revival.

NuScale is among the most closely watched companies in the small modular reactor field. Its flagship product, the NuScale Power Module, is a light-water reactor capable of generating 77 megawatts of electricity. The company also provides design support and nuclear regulatory licensing basis information to customers pursuing deployment.

The gap between the stock’s 52-week high and its current price illustrates how quickly sentiment around nuclear technology has shifted. Analyst commentary published this week suggested that a hypothetical $1,000 investment made at the $10 level would grow to roughly $5,742 by 2030 if the shares returned to their October 2025 peak — a scenario that would depend heavily on NuScale converting developmental progress into commercial traction. The company has not issued such a projection itself, and no timeline for that outcome is guaranteed.

NuScale competes in an industry where commercialization timelines are long and capital intensive. Small modular reactors must clear regulatory reviews, secure customers, and achieve manufacturing scale before revenues can materialize meaningfully. The company’s placement in the Industrials sector, within the specialty industrial machinery classification, reflects its position as an equipment and technology provider rather than a traditional utility operator.

Market participants have also been tracking broader moves in energy-adjacent technology names. Separately, Progress Software (Nasdaq: PRGS) traded at $44.05, down 1.35% on the day, with a market capitalization of about $1.81 billion — though the infrastructure software maker has no direct connection to NuScale’s reactor business.

For NuScale, the central question for investors and industry observers remains whether utility and data center customers move from exploration to firm commitments for small modular reactor deployments, which would provide the first concrete test of the commercial thesis that drove last year’s rally.

What to watch

• NuScale’s upcoming quarterly earnings report and any updates on customer agreements or deployment milestones.
• Progress on regulatory approvals for small modular reactor projects in the U.S. and abroad.
• Announcements from hyperscale data center operators regarding nuclear power purchase commitments.
• Any shifts in federal energy policy affecting nuclear licensing and funding.

Source: original release