NuScale (SMR) Soars to New High on US Army Nuclear Tech Adoption

We recently published 10 Stocks Stealing Today’s Spotlight; 5 on All-Time Highs. NuScale Power Corporation (NYSE:SMR) is one of the best performers on Wednesday.

NuScale Power propelled to a new all-time high on Wednesday as investors gobbled up shares following the US Army’s newly launched program for the deployment of small modular reactors in the country.

During the trading session, NuScale Power Corporation (NYSE:SMR) soared to its highest price of $56.16 before trimming gains to end the day just up by 16.68 percent at $53.43 apiece.

On Wednesday, the US Army officially unveiled the “Janus Program,” which supports President Donald Trump’s executive order in May this year for the development of nuclear reactors in the country. Investors speculated that the agency could tap nuclear reactor operators, including NuScale Power Corporation (NYSE:SMR), for the project.

The Department of Defense was ordered to have a reactor fully operational no later than September 30, 2028.

In other news, investors also gobbled up shares in NuScale Power Corporation (NYSE:SMR) and other nuclear technology stocks, having been tied to JPMorgan’s $1.5 trillion security and resiliency investment program.

According to JPMorgan, diversified sources of energy production and the modernization and resiliency of the grid “will be imperative to the national interest and advancing artificial intelligence.”

While we acknowledge the potential of SMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.