Research · Living data · Updated 2026-07-17
Public companies across the nuclear theme — uranium miners, reactor builders, SMR developers, and the utilities going nuclear to power AI.
Nuclear went from a stranded, out-of-favor sector to one of the most-watched themes in markets, and the catalyst is unusual: artificial intelligence needs enormous baseload power, and nuclear is the cleanest way to supply it around the clock. NextTrack maps 110 public companies across the nuclear theme — uranium miners, fuel-cycle names, conventional reactor builders, small modular reactor (SMR) developers, and the utilities running the plants. The count refreshes on every rebuild.
| Metric | Live figure |
|---|---|
| NextTrack tracks | 110 nuclear-themed companies |
| Last updated | 2026-07-17 |
"Nuclear stocks" bundles several very different businesses, and conflating them is the classic error. NextTrack separates them:
- **Uranium & fuel cycle** — miners and enrichment/conversion names, a commodity-price bet. - **Conventional reactors & utilities** — the operators running existing plants, a regulated, cash-generative utility bet. - **SMR developers** — pre-revenue companies building next-generation small modular reactors, a venture-style bet on a technology that is mostly not yet commercial. - **Supply chain & services** — engineering, components, and decommissioning.
Across these slices, 110 companies carry the nuclear tag. Which slice you own determines whether you're taking commodity risk, regulatory risk, or pure technology risk.
The demand story changed. Hyperscale data centers signing power-purchase agreements for nuclear output — and interest in restarting shuttered plants — turned a decarbonization narrative into a near-term earnings driver for the operators. For the pre-revenue SMR developers, the same demand is the entire thesis, but the timeline is measured in years and the regulatory path is real. Reading the theme means separating the utilities that generate cash today from the SMR names that are selling a future.
Sort the 110-name list by market cap and you'll see the barbell: a handful of large, cash-generative utilities and diversified uranium producers at the top, and a long tail of small, speculative SMR and exploration names below. The speculative tail is where the theme's biggest moves — up and down — happen. The full ranked, sortable list is on the gated theme page.
Nuclear membership comes from a curated theme taxonomy mapped to companies and rolled up recursively across sub-themes, so the parent "nuclear" theme includes every company tagged to uranium, SMRs, utilities, or the fuel cycle. Membership is reviewed as companies enter or exit the space. Explore the interactive map on the [nuclear theme page](/themes/nuclear), or browse [all themes](/themes).
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