Google has announced a planned €5bn ($5.83bn) investment in Belgium for 2026 and 2027, with a focus on expanding its St. Ghislain data centre campus. This investment aims to bolster the company's AI infrastructure for Google Cloud and enhance core services such as Search, Maps, and Workspace. The St. Ghislain site will see further integration into Google’s global network of 42 cloud regions, advancing the company’s capacity to meet enterprise demand for high-performance, low-latency AI services. Organis ...

Core Insights - NuScale Power and OKLO are significant players in the small modular reactor (SMR) sector, focusing on cleaner and scalable nuclear energy solutions [1][2] - The global SMR market is projected to grow from $5.81 billion in 2024 to $8.37 billion by 2032, with a CAGR of 4.98% from 2025 to 2032, indicating substantial growth opportunities for both companies [2] NuScale Power - NuScale Power is advancing in SMR technology and has a growing partner base, including tech giants and financial institutions, positioning it as a key player in sustainable energy [4][12] - The company received its second U.S. Nuclear Regulatory Commission approval for a 77-megawatt design in Q2 2025, enhancing its competitive position and customer interest [5][11] - Significant progress has been made in manufacturing and commercialization, with partnerships like Doosan Interability and ENTRA1 Energy solidifying its market position [6] OKLO - OKLO is expanding its presence in the SMR market through strategic partnerships, including a memorandum of understanding with Korea Hydro and Nuclear Power to develop advanced nuclear technology [7][8] - The company also announced a partnership with ABB to establish a digital monitoring room, supporting operator training and the deployment of its automated Aurora powerhouses [9] - Despite its expanding portfolio, OKLO has not yet generated revenues, with its first Aurora powerhouse expected to go live in 2027, leading to concerns about high operating costs [19] Stock Performance and Valuation - Year-to-date, NuScale Power's shares have appreciated by 100.9%, while OKLO's shares have soared by 250.1%, with OKLO's outperformance attributed to federal policy support and growing demand [10][11] - Both companies' shares are currently considered overvalued, with NuScale trading at a Price/Book ratio of 20.56X and OKLO at 14.89X [15] - For 2025, the Zacks Consensus Estimate predicts a loss of 46 cents per share for NuScale and 50 cents for OKLO, with both companies facing challenges in profitability [17] Conclusion - NuScale Power is highlighted as the stronger investment option due to its regulatory approvals, diversified applications, and strong industry partnerships, while OKLO faces revenue delays and high operating costs [18][20]

Group 1: Microsoft’s Energy Strategy - Microsoft is considering the use of natural gas with carbon capture technology to power AI data centers, contingent on commercial viability and cost competitiveness [1] - The company aims to match all its electricity consumption with carbon-free energy by 2030 and has procured over 30 gigawatts of renewable power to achieve this goal [2] - Microsoft has also engaged in nuclear power initiatives, including a deal to support the restart of the Three Mile Island plant, although significant nuclear power development in the U.S. is not expected until the 2030s [3] Group 2: Industry Trends and Challenges - Data center developers are increasingly viewing natural gas as a near-term power solution despite its carbon emissions, with the Trump administration promoting natural gas production [4] - The cost of new natural gas plants has tripled, and the timeline for building these plants extends to 2030, presenting challenges for deployment [7] - Renewable energy sources are currently more cost-effective and available compared to natural gas, with industry leaders indicating that renewables are ready to meet immediate power needs [8] Group 3: Collaborations and Future Outlook - Exxon Mobil and Chevron are entering the data center space, planning to develop natural gas plants with carbon capture technology, indicating a trend towards integrating fossil fuels with cleaner technologies [5] - Discussions are ongoing between Microsoft and various technology providers, although specific conversations with oil majors were not confirmed [6] - The focus on accelerating the construction of power plants for data centers reflects a critical need in the industry, as highlighted by industry executives [7]