Core Insights - The ongoing AI boom is driving demand for affordable and reliable energy, benefiting companies like NuScale Power and Oklo [2] - Oklo has significantly outperformed NuScale in stock market gains, with a 1,370% increase compared to NuScale's 290% and the S&P 500's 15% [3] - Investors are focused on the future performance of both companies, particularly their ability to generate consistent revenue and profits [4] NuScale Power Overview - For the 12 months ending June 30, 2025, NuScale reported $56.1 million in revenue and $124 million in net losses, missing revenue estimates in 10 of the past 12 quarters [5] - Analysts project NuScale's revenue to grow from $47 million in 2025 to $152 million in 2026, reaching $5.1 billion by 2034, with a current price-to-sales (P/S) ratio of 200 [6] - NuScale is expected to incur three more years of losses before achieving profitability in 2030, with projected earnings per share (EPS) of $0.48 [7] Oklo Overview - Oklo has emerged as a market favorite with a 12-month gain exceeding 1,000%, while NuScale is also nearing its all-time high as it works on its first small reactor in Idaho [8]

Core Insights - Fluor's stock has appreciated by approximately 365% over the past five years, translating to a compound annual growth rate of 36%, significantly outperforming the stock market's long-term average [1] Company Overview - Fluor is primarily an engineering and construction company, serving diverse sectors including oil and gas, mining, and power generation, and is often engaged in large infrastructure projects [2] Financial Performance - Despite a 365% increase in stock price, Fluor's revenue has only grown by 6.6% since 2020, while gross profits increased by 36% during the same period [3] - The price-to-sales ratio has surged from 0.07 to 0.47 since 2020, marking an increase of nearly 480% [3] - The company's profit margin averaged around 0% from 2020 to 2024 but has recently reached 25%, indicating improved cost management and execution [4] Valuation Dynamics - The significant appreciation in Fluor's stock price is largely attributed to a substantial increase in its valuation multiple rather than revenue or gross profit improvements [4] - The company's transition from a loss-making entity to a profitable business has led to a sharp rerating of its stock [4] Historical Context - Fluor's stock has experienced multiple cycles of extreme ups and downs, influenced by the cyclical nature of the engineering and construction industry [5] - The recent stock price spike is partly due to Fluor's investment in NuScale Power, which focuses on small modular reactor technology [7] New Business Ventures - Recent performance improvements have been driven by new business ventures, particularly in small modular reactors, which were not part of Fluor's operations in the past [8] Investment Considerations - While Fluor's recent stock performance has been strong, the company has historically been a disappointment for long-term investors due to the volatility in the engineering and construction sector [10] - The success of NuScale presents a potential long-term growth opportunity, suggesting that investors may benefit from focusing on this segment [11]