3 Nuclear Power Stocks to Buy in 2025 for an AI Gold Rush
The artificial intelligence (AI) revolution is reshaping demand for electricity, significantly influencing the landscape of investment opportunities in the energy sector. As AI applications proliferate across industries from automotive technology to consumer electronics, the need for reliable and sustainable energy sources has surged. Nuclear power, known for its capacity to provide consistent energy without carbon emissions, is emerging as a critical player in meeting this increased demand. The convergence of these factors creates a compelling case for investors to consider nuclear power stocks. In this context, we’ll explore three significant players poised for growth in 2025: Vistra Energy (VST), Oklo (OKLO), and Constellation Energy (CEG).
Nuclear Energy Stock #1: Vistra
With a market capitalization of $56.7 billion, Vistra Energy stands out as one of the top retail energy producers in the U.S. The company boasts a capacity of approximately 41 gigawatts, supported by a diverse portfolio that includes nuclear, natural gas, coal, and solar generation methods. Notably, Vistra also operates one of the largest utility-scale battery projects globally. Recent legislative changes, particularly the tax credit included in President Biden’s climate law, favor nuclear generation and enhance Vistra’s strategic position.
In December 2023, Vistra announced the operational start of two new utility-scale solar projects in Illinois and extended the operational timeline of its Baldwin Power Plant, now slated to run until 2027 instead of closing in 2025. These moves reflect their commitment to reliability within the MISO market.
For Q3 2024, Vistra reported a 53.9% year-over-year increase in operating revenues, hitting $6.28 billion, surpassing estimates by $1.27 billion. Its GAAP earnings per share (EPS) settled at $5.25, outperforming consensus by an impressive $3.99. Vistra generated $1.4 billion in adjusted EBITDA and maintained a strong cash flow with $1.7 billion from operations. Its forecasts signal optimism, projecting adjusted EBITDA between $5.5 billion and $6.1 billion for FY25.
Nuclear Energy Stock #2: Oklo
Oklo, backed by OpenAI leader Sam Altman, is a frontrunner in advanced nuclear technology, targeting the construction of small, scalable reactors known as “powerhouses.” Currently valued at $3.1 billion, Oklo’s business model capitalizes on the increasing demand for reliable energy sources needed in data-intensive industries.
Despite not having generated revenue yet, Oklo’s quarterly earnings report as of November 14, 2023, revealed operating expenses of $12.28 million, primarily attributed to R&D endeavors. The company’s cash reserves of $288.5 million ensure its operational sustainability for the coming years. Oklo has also reported a significant expansion in its customer pipeline, growing from 1,350 MW to 2,100 MW.
Looking ahead, Oklo is projected to burn between $35 million to $45 million in cash for FY24, all while recording a loss from operations of $40 million to $50 million. However, with substantial liquidity, Oklo appears poised for strategic growth as it aims to meet energy demands with its small modular reactor designs.
Nuclear Energy Stock #3: Constellation Energy
Constellation Energy operates on a substantial scale, generating and selling electricity primarily in the United States. Formed from Exelon Generation in early 2022, it currently provides approximately 33,100 MW of generating capacity, with nuclear energy comprising about 67% of this total.
CEG’s shares have appreciated 26% since the beginning of 2025, spurred largely by its landmark acquisition of Calpine, a deal valued at $26.6 billion. This transaction solidifies Constellation’s position as the largest nuclear plant operator and independent power provider in the U.S., with enhanced capacity across multiple emission-free sources.
In its third-quarter results released on November 4, 2023, Constellation reported a revenue increase of 7.2% year-over-year, totaling $6.55 billion. Adjusted operating earnings per share was $2.74, beating guidance and analyst expectations significantly. The company also revised its earnings forecast upward, indicating a commitment to sustainable growth driven by rising energy demand.
Conclusion
The nuclear power sector represents a unique investment opportunity as it stands at the intersection of technological advancement and energy demand. Companies like Vistra, Oklo, and Constellation Energy exemplify the potential for growth amid a backdrop of increasing reliance on carbon-free energy. For serious investors looking at the long term, these three companies are worth considering as nuclear energy reestablishes its vital role in the evolving energy landscape.
