Three Nuclear Power Plays Set to Dominate Through 2025 and Beyond

The Nuclear Renaissance: Why Now Matters

The nuclear sector is experiencing an unprecedented turnaround. Major technology firms—including Amazon and Alphabet—are joining over 120 global organizations in backing plans to significantly expand nuclear generation. By 2050, the world aims to triple nuclear capacity, while the United States has committed to quadruple its output. This convergence of policy backing, rising electricity consumption, and private sector interest is positioning nuclear energy as a cornerstone of future power infrastructure rather than a Cold War artifact.

For investors with a multi-year outlook, three companies offer distinct entry points into this transforming industry.

Constellation Energy: The Established Foundation

Constellation Energy (NASDAQ: CEG) operates America’s most extensive nuclear fleet with 21 active reactors, establishing itself as the nation’s premier zero-carbon electricity producer.

Recent developments underscore the company’s expansion trajectory. Constellation obtained a $1 billion loan from the Department of Energy to develop the Crane Clean Energy Center, which will inject 835 megawatts of continuous baseload capacity into the national grid. Additionally, the company finalized an agreement in 2025 to acquire Calpine for approximately $16.4 billion. This strategic transaction positions Constellation as the largest U.S. generator of both natural gas and geothermal electricity while simultaneously expanding its customer platform by roughly 2.5 million accounts.

Centrus Energy: The Fuel Supply Linchpin

Nuclear expansion demands fuel, and Centrus Energy (NYSE: LEU) controls one of the only Nuclear Regulatory Commission-licensed facilities in America capable of manufacturing high-assay, low-enriched uranium (HALEU).

Centrus traces its lineage back to America’s uranium enrichment efforts from the 1940s onward, bringing seven decades of technical expertise to its operations. In November 2023, the company achieved a historic milestone by becoming the first American manufacturer of HALEU in seven decades. Following this breakthrough, Centrus shipped 900 kilograms of HALEU under a Department of Energy purchase agreement in June 2025. The DOE has renewed the contract through mid-2026, with a total value of $110 million. Should the U.S. pursue its roadmap for next-generation reactor deployment, Centrus stands to play a critical role in the emerging HALEU supply ecosystem.

Oklo: The Emerging Innovator

Oklo (NYSE: OKLO) focuses on advanced reactor technology, specifically engineered microreactors tailored for decentralized applications. The company’s Aurora reactor is a compact facility designed to generate 15 to 75 megawatts for off-grid deployment at data centers, industrial facilities, military installations, and isolated communities.

The Aurora platform operates on HALEU fuel and demonstrates extended operational periods—potentially running a decade or longer between refueling cycles. Oklo earned selection into the Department of Energy’s Reactor Pilot Program, targeting the deployment of at least three commercialized advanced reactors outside government research facilities by July 4, 2026. The company has also negotiated a framework agreement with data center operator Equinix for up to 500 megawatts of capacity provision.

However, Oklo remains pre-revenue and navigating the Nuclear Regulatory Commission approval pathway. Without a commercial license, Oklo represents a speculative opportunity—one carrying both substantial upside and downside risk.

The Broader Investment Landscape

These three companies collectively span the nuclear industry’s value chain: from established, large-scale operators ensuring grid stability to specialized fuel suppliers enabling next-generation designs, and emerging innovators pioneering decentralized power solutions. Investors seeking diversified nuclear sector exposure might also explore nuclear energy-focused exchange-traded funds as an alternative to individual stock selection.