- With faster approvals and a stronger domestic uranium supply, Trump targets a fourfold increase in U.S. nuclear power by 2050.
- AI-driven energy demand fuels the push for nuclear expansion, including backing the $500b Stargate data centre project.
- Nuclear stocks surge after announcement, while experts warn success depends on execution, not just policy.
President Donald Trump signed four executive orders on Friday, May 23, to overhaul the U.S. nuclear energy sector. The orders aim to quadruple atomic power output by 2050, speed up reactor approvals, secure domestic uranium supply, and meet soaring power needs driven by artificial intelligence (AI).
The U.S. runs 94 civilian nuclear reactors, many of which are more than 40 years old. Trump said the country must act fast to keep up with rising electricity demand. “We’re going to make nuclear energy fast, safe, and powerful again,” he said.
One order directs the Nuclear Regulatory Commission (NRC) to complete license reviews for new reactors within 18 months. Current reviews often take several years. A senior White House official said the administration wants to test new reactors before Trump’s term ends 2029.
The stock market quickly reacted. Shares of nuclear startup Oklo, focused on Small Modular Reactors (SMRs), jumped over 23% to $52.17. NuScale Power, another SMR firm, rose nearly 19%. Constellation Energy and Vistra Corp. climbed more than 2% each. Cameco, a Canadian uranium company, gained 11% on expectations of rising U.S. demand for enriched uranium.
Energy Secretary Doug Burgum said the orders strengthen America’s position in energy and technology. “To lead in AI, we need reliable, carbon-free power,” he said. Burgum explained that nuclear power will help support massive data centres and AI systems.
AI expansion continues to increase pressure on the national grid. A project called Stargate — backed by OpenAI’s Sam Altman, SoftBank, and Oracle — plans to invest $500 billion in U.S. data centres. The administration expects these centres to rely on nuclear energy to meet their energy needs.
Another order targets uranium supply—the U.S. imports about 25% of its enriched uranium, mainly from Russia. Trump’s directive calls for increased domestic mining and enrichment to reduce foreign reliance. Officials believe this move will improve energy independence and national security.
Other world powers continue to invest heavily in nuclear energy. France plans to build 14 new reactors by 2038. China operates 57 reactors and is building 27 more. Russia leads in nuclear exports, with 26 projects underway.
Some experts raised concerns. President of nuclear consultancy UxC, Jonathan Hinze, said the orders provide no new funding. He argued that the Department of Energy must manage its existing programs wisely to deliver results.
Despite concerns, investors remain optimistic. Rob Thummel, senior portfolio manager at Tortoise Capital, said firms like Constellation and Vistra stand ready to benefit. “They have the scale and strategy to move fast,” he said.
Trump’s nuclear orders signal a sharp shift in U.S. energy policy. The administration seeks to position atomic energy at the centre of America’s clean energy future and tech-driven growth.