Centrus Energy to Join TD Cowen's Nuclear Fuel Roundtable in 2024
- Nvidia CEO Jensen Huang supports nuclear energy as a solution for AI's rising energy demands.
- Microsoft's reopening of the Three Mile Island nuclear station aims to meet the energy needs of AI infrastructure.
- The growing interest in nuclear energy could benefit companies like Constellation Energy, NuScale Power, and Centrus Energy.
In the United States, Nvidia CEO Jensen Huang has publicly endorsed nuclear energy as a sustainable solution to meet the increasing energy demands of artificial intelligence (AI). Speaking to Bloomberg, Huang highlighted that AI's energy consumption could soon rival that of small countries, emphasizing the urgent need for diverse and sustainable energy sources. His comments coincided with Microsoft’s decision to reopen the Three Mile Island nuclear station, a significant move aimed at addressing the energy requirements of expanding AI infrastructure. The anticipated energy needs of AI, particularly in large data centers operated by major tech companies like Google and Meta, are projected to be as high as that of entire nations by 2027. This situation has prompted a renewed interest in nuclear energy, which Huang describes as a 'wonderful way forward' for powering AI data centers. In light of this nuclear renaissance, three companies are highlighted as potential beneficiaries: Constellation Energy, which has seen a significant rise in its stock price following plans to restart the Three Mile Island plant; NuScale Power, known for its small modular reactors; and Centrus Energy, a key supplier of nuclear fuel. As AI continues to grow, the advocacy for nuclear energy by industry leaders like Huang could further stimulate the sector's expansion, making these stocks attractive for investors looking to capitalize on the intersection of technology and energy sustainability.