Why NuScale Power Stock Blasted 445% Higher in 2024

Core Viewpoint - NuScale Power experienced a significant stock decline of 68% in 2023, but rebounded with a remarkable 445% increase in 2024, driven by its potential as a nuclear power solution for data centers facing high power demands from AI computing [1][2]. Stock Performance - In early 2024, NuScale Power shares initially fell by 5.8% but began to recover in March, with a notable 54% rise attributed to analysts raising the price target from $4.25 to$8 [3]. - The stock saw a 51% increase in May after Standard Power expressed interest in using NuScale's small modular reactors for data centers [4]. - In June, the stock surged by 34% following the U.S. government's recognition of nuclear power as a viable solution for increasing power demands [4]. Investor Sentiment - Investor optimism remained high throughout 2024, fueled by news that major companies like Amazon and Alphabet were considering nuclear power to meet AI-related power demands, alongside expectations of supportive policies from the incoming Trump administration [5]. Current Market Position - As of early 2025, while the S&P 500 has decreased by nearly 1%, NuScale Power's stock has increased by about 5%, indicating continued investor support despite the speculative nature of the investment [6].