Core Viewpoint - A renewed interest in nuclear energy presents significant growth opportunities for Cameco, a leading uranium miner, which has seen a 60% stock increase this year and is well-positioned for future gains [1][6]. Group 1: Company Overview - Cameco is the second-largest uranium producer globally, operating in a $10 billion industry and producing 17% of the world's uranium [1][3]. - The company has a 49% ownership stake in Westinghouse, which manufactures advanced nuclear reactors, enhancing its position in the nuclear fuel cycle [2][5]. Group 2: Production and Financial Performance - Cameco's Q3 2025 results showed a 15% revenue drop to $441.7 million compared to Q3 2024, attributed to production difficulties [7]. - Despite the recent quarterly setback, long-term growth trends remain positive, with revenue for the first nine months of 2025 up 17% and EBITDA up 33% year-over-year [8][9]. Group 3: Market Position and Government Support - The U.S. government announced an $80 billion investment in new Westinghouse AP1000 reactors, which is expected to bolster Cameco's market position in supplying uranium [10][12]. - The U.S. has banned Russian uranium imports and faces challenges in sourcing from Kazakhstan, making Canada, where Cameco operates, a strategic partner for uranium supply [12][13]. Group 4: Future Outlook - The U.S. aims to quadruple its nuclear output by mid-century, indicating a strong demand for uranium and new reactors, which aligns with Cameco's growth strategy [14]. - Canadian uranium exports benefit from lower tariffs, further enhancing Cameco's competitive edge in the U.S. market [15].

Company Overview - Asp Isotopes (ASPI) is an advanced materials company focused on developing technology for producing enriched isotopes, utilizing a proprietary Aerodynamic Separation Process [2] - The company was incorporated in Delaware in September 2021 and has roots tracing back to the 1980s [2] Financial Performance - In Q3 2025, Asp Isotopes reported total revenues of $4.9 million, significantly up from $1.1 million in the previous year [1] - The company's losses widened to $0.15 per share from $0.12 per share, exceeding the consensus estimate of a loss of $0.10 per share [1] - Net cash used in operating activities increased to nearly $20 million from about $13 million year-over-year, but cash balance improved to $113.9 million from $61.9 million [6] Market Outlook - The nuclear energy sector is projected to grow from approximately $37 billion today to about $51.83 billion by 2035, driven by factors such as AI data center expansion and global government support for reducing fossil fuel emissions [4] - The VanEck Uranium and Nuclear ETF (NLR) has seen a 49% increase year-to-date, indicating strong market interest in nuclear energy [5] Analyst Ratings - Asp Isotopes has been assigned a "Strong Buy" rating with a mean target price of $11, suggesting an upside potential of about 83% from current levels [7] - The overall sentiment in the nuclear energy sector is positive, with analysts expressing confidence in companies like Talen Energy and Ur Energy, which also have strong ratings and growth potential [12][17] Investment Considerations - The nuclear energy theme is gaining traction, with companies like Asp Isotopes positioned as bold bets in a growing sector [18] - Talen Energy, with a diversified energy portfolio, is highlighted as particularly strong among its peers [18]

Key Points The US Department of Energy will loan Constellation Energy $1 billion to reopen Three Mile Island. The loan will cover nearly all of Constellation's $1.6 billion estimated startup cost. The loan term will be 30 years. 10 stocks we like better than Constellation Energy › It's been more than a year since Constellation Energy (NASDAQ: CEG) announced it will reopen Three Mile Island Unit 1 and sell electricity from that nuclear plant to power data centers for Microsoft (NASDAQ: MSFT) -- ki ...

The Wall Street Journal claims there is an AI cold war between the US and China. Palanteer Technologies defense head Mike Gallagher joins me now. Mike, are we winning the AI cold war.I have to tell you that my colleague Kevin Olirri is sitting next to me. He says we are losing the war with China. What say are you.>> Well, Kevin's much smarter than I am. I see no reason to disagree with him, but I do think we have a narrow lead in key important areas. For example, when it comes to the hardware underlying AI ...

VANCOUVER, British Columbia, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) (“Anfield” or the “Company”), applauds the U.S. Geological Survey’s (USGS) finalization of the 2025 List of Critical Minerals, which reinstates uranium as a critical mineral essential for national security, energy independence, and economic resilience. This landmark decision, announced on November 6, 2025, and aligned with Executive Order 14154 (“Unleashing American Energy”), expands ...

Core Insights - The investment case for nuclear energy is gaining traction due to several distinct tailwinds, including technological advancements and the fundamental benefits of nuclear power [1] Growth Potential of Small Modular Reactors - 35% of financial advisors highlighted the growth potential of small modular reactors (SMRs) as the most interesting aspect of the nuclear sector, indicating a shift towards modular construction and flexible deployment in various applications [2] AI Demand Drivers - 22% of advisors noted nuclear's potential benefits as an AI adjacency, emphasizing that reliable electricity is crucial for the growth of AI, with power demand expected to increase significantly [3] Support from Technology Companies - Major technology companies are increasingly supporting nuclear development, recognizing their reliance on stable power sources [4] Traditional Strengths of Nuclear Power - 18% of respondents cited carbon-free power generation as a key strength, while 13% pointed to reliability and long operational lifespans, and 11% emphasized energy and national security benefits [4] Comprehensive Investment Narrative - The investment case for nuclear energy is multifaceted, combining new growth drivers like SMRs and AI with the established benefits of clean, reliable, and secure baseload power [5]

Q3 2025 Performance - Revenue reached $223.1 million, with organic growth of 4.7% compared to Q3 2024[12] - Adjusted EBITDA increased by 14.7% to $52.4 million compared to Q3 2024, with contributions from both segments[15] - Adjusted Free Cash Flow generation was $18 million in Q3 2025, with $53 million YTD and a 35% YTD conversion rate[12] - Adjusted diluted EPS increased by 50% to $0.12[41] Nuclear Power Momentum - Nuclear Power end-market organic revenue grew by 11% YTD[8] - Adjusted Orders in Nuclear Power end-market increased by 21% in Q3 2025 compared to Q3 2024[16] - SMR-related orders amounted to $17 million in Q3 2025, a 9% increase compared to Q3 2024[17] - A $10 million SMR new build order was secured in Q3 2025, and a $55 million installed base order was secured in October 2025[8] Medical Segment Update - Approximately 75% of the Medical segment's revenue is directly related to cancer care[27] - Dosimetry organic revenue grew by 7%[57] 2025 Guidance - The company is on track for 2025 guidance[11] - Organic Revenue Growth is projected between 4.5% and 6.0%, and Total Revenue Growth between 7.0% and 9.0%[62]

Core Insights - The U.S. Government has formed a strategic partnership with Westinghouse Electric Company, Cameco Corporation, and Brookfield Asset Management to construct at least $80 billion worth of new nuclear reactors, aimed at accelerating nuclear power and artificial intelligence deployment in the U.S. [1][2][3] Industry Overview - The partnership is expected to reinvigorate the nuclear power industrial base in the U.S., making nuclear energy a central pillar of the country's strategy to maintain global leadership in nuclear power development and AI [2][4] - The construction of new reactors will create or sustain approximately 45,000 manufacturing and engineering jobs per two-unit Westinghouse AP1000 project, with a national deployment projected to generate over 100,000 construction jobs [4] Company Contributions - Westinghouse is recognized as a global leader in nuclear energy, with its technology serving as the foundation for more than half of the world's operating nuclear power fleet [7][11] - The AP1000 reactor, developed by Westinghouse, is noted for its advanced safety systems and modular construction design, with six reactors currently operational and additional units under construction [8] Strategic Goals - The partnership aims to enhance U.S. energy sovereignty, create high-paying jobs, and position the country at the forefront of a nuclear renaissance [3][4] - Brookfield Asset Management plans to double its investment in critical infrastructure over the next decade, supporting the growth of AI and meeting increasing electricity demand [3][4] Financial Mechanisms - The partnership includes profit-sharing mechanisms that allow all parties, including the American public, to benefit from the long-term financial and strategic value generated by the growth of nuclear energy and AI capabilities [6]

22 October 2025 Asia-Pacific Nuclear Power Asia-Pacific Nuclear Power: What to invest in for China's next Five-Year Plan? Brian Ho, CFA +852 2123 2615 brian.ho@bernsteinsg.com Neil Beveridge, Ph.D. +852 2123 2648 neil.beveridge@bernsteinsg.com Hengliang Zhang +852 2123 2629 hengliang.zhang@bernsteinsg.com China is poised to become the world's largest nuclear power operator by 2030. China's nuclear capacity stood at 61GW in 2024 and is on track to reach 100GW by 2030, with further expansion to 150-200GW by 2 ...

Nuclear Energy Industry - The current status of nuclear power plants in the United States is that there are no new plants being built, which presents a unique opportunity for companies like Cameco, a uranium producer [2][5] - The demand for energy is expected to increase, and nuclear energy is seen as a clean and reliable source that can operate continuously, making it an attractive option for energy production [3][4] - The regulatory environment is shifting from a "not in my backyard" (NIMBY) mentality to a more favorable stance towards building nuclear facilities, indicating a potential resurgence in nuclear energy development [3][4] Uranium Market - The uranium market is anticipated to grow significantly, with demand increasing while the ability to mine new uranium is becoming more challenging, creating a favorable environment for existing producers like Cameco [6] - Cameco also owns Westinghouse, a major nuclear builder, which positions the company well within the nuclear supply chain [6][7] Copper Industry - The copper market is experiencing robust demand, and companies like Teck Resources are undergoing corporate restructuring to focus on copper, which is expected to see price increases to incentivize new supply [8][9] - The ongoing M&A activity in the copper sector is expected to create operational synergies and enhance revenue potential for companies involved [9] Antimony and Gold Mining - The company Perpetual is attempting to restart a gold mine that also contains antimony, a critical resource, highlighting the challenges and complexities of reviving closed mines [10][11] - The U.S. government is actively investing in the resource economy, which may facilitate the mining of critical resources like antimony and help restart supply chains [11][12]