Nuclear stocks mixed after U.S. Army launches program to deploy small reactors

Nuclear stocks traded mixed Wednesday after the U.S. Army launched a program to deploy small reactors.

Shares of NuScale, a small reactor developer, surged about 11%. Oklo and Nano Nuclear fell more than 3% and nearly 5%, respectively. The uranium company Centrus jumped about 7%.

Those stocks all rallied sharply earlier in the session.

The U.S. Army on Tuesday unveiled a program to build micro nuclear reactors in partnership with the Defense Innovation Unit. The microreactors will be commercially owned and operated with the goal of helping developers scale up their businesses, according to the Army.

The Army launched the “Janus Program” in response to President Donald Trump‘s May executive orders that aim to speed the deployment of advanced reactors. Trump ordered the Defense Department to have a reactor operating at a domestic military installation no later than Sept. 30, 2028.

Investors have speculated heavily on the fortunes of NuScale, Oklo and Nano Nuclear despite the fact that none of the companies have deployed a reactor yet. Oklo and Nano Nuclear have not generated any revenue. NuScale posted $8 million in revenue in the second quarter.

Artificial intelligence power demand and Trump’s executive orders have fueled a wave of market enthusiasm about nuclear power. Goldman Sachs recently told investors to exercise caution on Oklo.