Core Insights - NuScale Power Corporation (NYSE:SMR) experienced a share price decline of 10.39% from December 23 to December 30, 2025, ranking among the energy stocks that lost the most during that week [1] - B. Riley reduced its price target for NuScale Power from $38 to $24 while maintaining a 'Buy' rating, indicating an upside potential of over 67% from the current share price [3] - Concerns among investors regarding potential stock dilution arose following a partnership agreement with ENTRA1 and an increase in the authorized share count to 662 million shares, nearly double the previous 332 million [4] Company Overview - NuScale Power specializes in small modular reactor technology, with its flagship product being the NuScale Power Module, capable of producing up to 924 MWe of carbon-free energy [2] - The company has seen a share price decline of over 19% since the beginning of 2025, raising questions about its investment potential compared to certain AI stocks [5]

Core Viewpoint - Oklo's stock has experienced significant volatility, rising by 720% since January 1, reaching a peak of $174.14 on October 14, before dropping over 50% to a low of $85.77 on November 25, and then rebounding to around $105 [1][2]. Company Overview - Oklo is a speculative nuclear energy start-up currently in the pre-commercial phase, which limits the availability of detailed operational data typically found in established energy companies [4][6]. - The company is required to publish quarterly earnings reports but currently has no revenue or profits, with expenses primarily related to start-up costs [7]. Technology and Operations - Oklo is developing its first Aurora Powerhouse facility, which will feature a sodium-cooled fast reactor, a type of small modular reactor (SMR) [9]. - The technology being developed by Oklo is unique as it is the only sodium-cooled fast SMR in development, which could operate more efficiently and utilize spent nuclear fuel as a cheaper energy source [11]. Future Prospects - The timeline for the Aurora Powerhouse to begin commercial operations is uncertain, with previous targets set for late 2027 or early 2028, but now dependent on achieving criticality by July 4, 2026 [12]. - Investors may face a waiting period of at least six months to assess the viability of Oklo's business plan [12]. Market Behavior - The stock price of Oklo is highly volatile, influenced by news, analyst updates, and market sentiment rather than concrete operational data [13]. - A significant drop in Oklo's stock occurred after a major investor sold a portion of their stake, highlighting the sensitivity of the stock to investor actions [14]. Investment Considerations - Investors are advised to consider the potential for significant price swings and the uncertainty surrounding Oklo's ability to meet its upcoming milestones, which include completing construction, achieving criticality, and obtaining regulatory approval [15].

Group 1 - NuScale Power Corporation (NYSE:SMR) specializes in advanced small modular reactor technology, specifically the 77-MWe NuScale Power Module [1] - Jim Cramer suggested that investors should consider selling NuScale shares at price points of $27 and $30, indicating a cautious approach to the stock [1] - Cramer expressed a preference for GE Vernova over NuScale, citing GE's expertise in building such technology [1] Group 2 - There is a belief that certain AI stocks may offer greater upside potential and lower downside risk compared to NuScale [1] - The article hints at a potential stock offering for NuScale, which could present a buying opportunity for investors [1]

Investment Rating - The report maintains a "Buy" rating for HA Sustainable Infrastructure (HASI) and a "Neutral" rating for Oklo, while NuScale Power is rated as "Underperform" [41][21][26]. Core Insights - The tone of the Cleantech Symposium improved due to reduced policy uncertainty and increased corporate interest in capitalizing on power growth themes [1]. - Data centers are projected to account for approximately 50% of the expected growth in U.S. power demand, with a forecast of 80-90 GW of incremental data center capacity by 2030 and a 20-25% rise in U.S. electricity demand by 2035 [2]. - Advanced nuclear technologies, particularly small modular reactors (SMRs), are moving towards commercialization, with various companies targeting competitive costs and regulatory approvals [3][13]. - Utility-scale solar is expected to ramp up to 53.5 GW by 2027, although uncertainty in deployment is anticipated from 2028 to 2030 [4][12]. - The need for energy storage solutions is becoming critical, especially in light of supply chain constraints and the shift towards domestic manufacturing [5][11]. Summary by Sections Symposium Panel Takeaways - The Cleantech Symposium highlighted the accelerating U.S. power demand driven by AI/data-center loads and industrial electrification, with solar and storage dominating long-term additions [10][11]. - Interconnection challenges and FEOC compliance are significant factors affecting project bankability and capacity additions [11][12]. Advanced Nuclear - Companies like Oklo and Terra Innovatum are making strides in regulatory engagement and fuel flexibility, with Oklo's first reactor construction underway [21][22][13]. - NuScale's path to commercialization remains uncertain, hinging on key agreements and regulatory approvals [24][26]. Solar and Storage - The residential solar market is expected to see a reset in demand as the 25D ITC expires, but financing innovations may provide pathways for growth [15][17]. - T1 Energy is ramping up domestic module production, with a focus on reducing reliance on Chinese supply chains and increasing domestic content [19][45]. Grid and Energy Efficiency - HASI is expanding its investment pipeline, with a significant project in the SunZia Wind South onshore wind project, indicating strong growth potential in renewable energy investments [37][39]. - The report emphasizes the importance of domestic supply chains and the need for compliance with FEOC regulations to ensure project viability [19][20].

Financial Data and Key Metrics Changes - In Q3 2025, the company recorded revenue of $800,000 from R&D services, compared to no revenue in Q3 2024, reflecting a significant increase in activity [18] - Operating expenses for Q3 2025 were $15.3 million, up from $14.2 million in Q3 2024, primarily due to higher R&D costs [19] - The net loss for Q3 2025 was $13.3 million, an increase from $11.2 million in Q3 2024, but flat compared to Q2 2025 [20] Business Line Data and Key Metrics Changes - The KARNO Power Module has achieved over 200 kilowatts of mechanical power and more than 150 kilowatts of electrical power generation, meeting the needs of initial customers [5][6] - The company has confirmed that the KARNO Power Module meets stringent air quality standards, achieving NOx levels below 2.5 parts per million [6][7] - The UL certification process for the KARNO Power Module is progressing well, with testing requirements for the linear electric motor passed on the first attempt [9] Market Data and Key Metrics Changes - Customer interest in the KARNO Power Module remains strong, with nearly 500 units under non-binding letters of intent [12] - The company is deepening engagement with the U.S. military for energy security applications, with plans to deliver additional KARNO Power Modules for specialized testing in 2026 [13] - The data center market is increasingly adopting 800-volt DC architectures, aligning with the KARNO Power Module's native output [15][46] Company Strategy and Development Direction - The company is focused on transitioning from R&D to commercialization of the KARNO Power Module, with full commercialization expected in 2026 [12][22] - Strategic decisions were made to implement design improvements before UL certification to avoid future recertification [42] - The company is exploring partnerships in the nuclear sector to enhance the efficiency of next-generation nuclear systems [14][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the performance of the KARNO Power Module and its alignment with market needs, particularly in data centers and military applications [24] - The company anticipates being supply-constrained due to strong demand for the KARNO system across multiple sectors [12][35] - Management highlighted the importance of optimizing existing manufacturing capabilities while planning for future expansions [40] Other Important Information - The company expects total cash expenditures of $65 million for 2025, with a year-end cash and investment balance projected at approximately $155 million [21][23] - A 30% tax credit for the KARNO Power Module is expected to accelerate adoption and support commercial ramp-up [18] Q&A Session Summary Question: What vertical is the customer that shifted its acceptance of the initial KARNO units from 2025 into 2026? - The customer is the Navy, with the unmanned ship scheduled to have KARNO units installed in 2026 [25][26] Question: When will all the UL testing be completed? - The completion of UL testing is expected in the next couple of months, with multiple phases of certification [30] Question: Can you provide context around the 500 units in LOI? - The 500 units represent dozens of customers, with a strong demand for the product and ongoing discussions with new potential customers [33][35] Question: How is the company addressing manufacturing scale-up challenges? - The company has brought production in-house and is focused on optimizing existing manufacturing processes while planning for future expansions [39][40]

Core Points - X-energy has signed a Definitive Supply Agreement with Toyo Tanso for fine-grain graphite components valued at approximately $40 million for the Xe-100 small modular reactor deployment [1][3] - The agreement is a significant milestone for the Long Mott Generating Station project in Texas, in partnership with Dow, Inc., and supported by the U.S. Department of Energy [1][5] - Toyo Tanso will manufacture graphite core structural components using IG-110 fine-grain isotropic graphite for the four Xe-100 reactors [2][4] - X-energy is also in discussions with Toyo Tanso regarding graphite components for the Cascade Advanced Energy Facility in Washington state [2][3] - The agreement supports X-energy's broader efforts to develop a robust SMR supply chain in the U.S. and allied countries [3][4] - X-energy has customer engagements with Amazon and Centrica, potentially totaling over 11 GW across the U.S. and U.K., equivalent to approximately 144 Xe-100 SMRs [3][5] - The company is constructing a fuel fabrication facility in Oak Ridge, Tennessee, to ensure a stable domestic fuel supply for its reactors [5][6] Company Overview - X-energy is a leading developer of advanced small modular nuclear reactors and fuel technology aimed at clean energy generation [7] - The company's SMR design is characterized by enhanced safety, lower costs, and faster construction timelines compared to conventional nuclear reactors [7]

Financial Data and Key Metrics Changes - NuScale's overall liquidity increased to $753.8 million as of September 30, 2025, compared to $489.9 million at June 30, 2025, driven by the sale of 13.2 million Class A shares generating $475.2 million in gross proceeds [16] - Revenue for the quarter ended September 30, 2025, was $8.2 million, a significant increase from $500,000 during the same period in the prior year, primarily due to fees received for services related to the RoPower project in Florida [16] Business Line Data and Key Metrics Changes - The partnership with Inter One and TVA aims to deploy up to 6 gigawatts of new nuclear capacity using NuScale technology, marking the largest SMR deployment program in U.S. history [5][6] - The PMA with Inter One includes milestone-based payments to accelerate commercialization, with the first milestone payment of $148.5 million triggered by the TVA agreement [10][16] Market Data and Key Metrics Changes - The demand for reliable, always-on electricity is increasing, particularly in sectors like data centers, AI, advanced manufacturing, and national defense, which NuScale aims to serve with its SMR technology [14][15] - The U.S. government announced a mobilization of up to $550 billion in investments to expand energy infrastructure, with Inter One positioned to receive up to $25 billion for developing a fleet of power plants [6][7] Company Strategy and Development Direction - NuScale is focused on accelerating the commercialization of its SMR technology through strategic partnerships, particularly with Inter One, which is seen as a key player in the energy transition [8][9] - The company aims to leverage its unique position as the only NRC-approved SMR technology provider to meet growing energy demands while supporting U.S. energy independence [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong pipeline of potential off-takers for NuScale's technology and the favorable regulatory environment for nuclear energy [4][8] - The company anticipates the first Inter One energy plant to deliver power to TVA as early as 2030, with additional plants phased in as demand grows [7][15] Other Important Information - NuScale is working with Fluor on the RoPower project in Romania, which is expected to generate revenue and positive cash flow as it progresses towards a final investment decision in late 2026 or early 2027 [12][13] - The PMA with Inter One is designed to be a repeatable and scalable model for future projects, both in the U.S. and globally [10][11] Q&A Session Summary Question: Impact of Doosan's agreement on supply chain - Management confirmed that Doosan has the capacity to produce 20 NuScale power modules per year and is focused on NuScale modules [20][21] Question: Details on the U.S.-Japan agreement - The agreement highlights NuScale's strategic importance and support from Japan, positioning the company favorably in the energy sector [22][24] Question: Clarification on TVA agreement - Management clarified that the TVA agreement is a critical step towards a firm agreement, with ongoing efforts to finalize PPAs [28][29] Question: Fluor's commitment and monetization agreement - Management explained that the monetization agreement with Fluor reflects a natural maturation of their investment and does not indicate a loss of support [34][36] Question: Gating factors for Inter One site evaluation - Management noted that TVA has several sites with prior approvals, which aligns with their strategy to focus on tier one sites [41][42] Question: Confidence in binding agreement with TVA - Management expressed confidence in moving forward with TVA and indicated that other agreements may also be forthcoming [58][59] Question: Operational capabilities of Inter One - Management emphasized that Inter One has extensive experience in large-scale energy projects and will hire experienced EPC companies for construction [47][49] Question: Safeguards for substantial payments to Inter One - Management assured that payments made will roll into other projects if the TVA deal does not materialize, protecting their interests [112][113]

Core Viewpoint - NuScale Power Corp. reported disappointing third-quarter earnings, missing analyst expectations for both losses per share and revenue, leading to a decline in stock price [1][2]. Financial Performance - The company reported quarterly losses of $1.85 per share, which was significantly worse than the Street estimate of a loss of 15 cents, indicating a larger-than-expected financial setback [2]. - Quarterly revenue was reported at $8.24 million, falling short of the consensus estimate of $11.06 million by 25%, highlighting challenges in revenue generation [2]. Strategic Developments - NuScale's technology was selected for ENTRA1's agreement with the Tennessee Valley Authority, marking a significant milestone as the largest Small Modular Reactor (SMR) deployment program in U.S. history, which could provide future growth opportunities [3]. Stock Performance - Following the earnings report, NuScale's stock price decreased by 1.66%, trading at $31.92 in extended trading, reflecting investor reaction to the disappointing financial results [3].

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Core Insights - NuScale Power Corporation (NYSE:SMR) is recognized as a pioneer in small modular reactor (SMR) technology and is positioned to benefit from the increasing demand for sustainable electricity [3][4] - RBC Capital initiated coverage on NuScale with a 'Sector Perform' rating and a price target of $35, while assigning a Speculative Risk rating due to the need for more evidence of the scalability of its partnership model [2][3] Company Overview - NuScale Power Corporation specializes in SMR technology solutions, with its flagship product, the NuScale Power Module (NPM), featuring a water-cooled reactor that has a 77-megawatt electrical output [4] Market Position - The company is identified as one of the best nuclear energy stocks to invest in currently, reflecting its potential in the energy sector [1]