
Uranium futures in the US were above $86.5 per pound, near their highest level in two months as a recovery in broad risk sentiment was combined with the signs of strong longer-term demand in nuclear power. Nuclear power investment has been featured by future operators of power-hungry data centers, driving multiple tech giants in the US to sign contracts for small modular reactors.
Meta signed agreements for up to 7.8 gigawatts of nuclear capacity to support their AI services, and Microsoft signed agreements to renew old reactors that exclusively supply over 800 megawatts for their AI datacenter operations. The US government cut regulations on the construction and permits for uranium converters and enrichers and announced deals for the construction of new power plants. These include a partnership with Cameco, which approved the development of Westinghouse reactors, and a fresh $2.7 billion in contracts to Centrus and two other reactors and enrichers.
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