NuScale Power Builds SMR Supply Chain Amid Financial Losses

NuScale Power is building a supply chain and securing long-lead-time parts to manufacture small modular reactors (SMRs), positioning itself to serve artificial intelligence companies requiring rapid power scaling. As the only company currently cleared by U.S. regulators to build an SMR system, the firm is pursuing several high-potential leads, including a project with RoPower Nuclear S.A that could utilize six reactors pending financing.

The company is also collaborating with ENTRA1 Energy and the Tennessee Valley Authority on a potential nuclear power deployment program described as the largest in U.S. history. However, NuScale Power currently lacks a signed, financially binding sales contract. The company's CFO indicated that such an agreement could be signed by the end of 2026 or early 2027, which would serve to validate the company's business model.

Financial instability has marked the company's recent performance. In the second quarter of 2026, NuScale Power reported an operating loss of $64 million against only $75,000 in revenue. This financial strain, combined with the 2023 withdrawal of its largest customer due to rising costs, has contributed to a share price decline of approximately 75% to 80% from its 52-week high.