Bank of America Forecasts 10 Trillion Dollar Nuclear Energy Market

Bank of America estimates a 10 trillion dollar nuclear energy opportunity over the next 30 years, fueled by surging electricity demands from the artificial intelligence industry and expanding data center infrastructure. This broader trend has led to a rediscovery of nuclear energy as a viable power source.

NuScale Power, which specializes in utility-scale small modular reactor (SMR) technology, currently holds a market capitalization of 4 billion dollars. Market analysts identify a 1.5 trillion dollar SMR market opportunity, suggesting NuScale Power could see significant growth. Other competitors, such as Oklo Inc., are targeting smaller, bespoke SMR deployments for individual infrastructure like regional data centers.

Despite the long-term potential, Bank of America predicts that meaningful adoption growth for SMRs will not occur until 2030 or 2035. This timeline suggests that investors may have to wait a decade or more to realize the projected gains from these technologies.