GE Vernova and NuScale emerge as leading SMR developers for AI datacenter decarbonization, attracting capital for 2027+ deployments.
Nuclear energy stocks are drawing fresh attention as investors reassess reliable power sourcing amid shifting inflation, interest rates, and energy costs. With bond yields elevated and oil prices sensitive to geopolitical tension, many portfolios are seeking exposure to power generation themes less tied to fossil fuels. The Nuclear Energy Stocks screener focuses on uranium producers, enrichment players, and reactor operators supplying steady electricity. This article highlights three stocks with significant bearing on the broader nuclear power opportunity.
**Bird Construction**
Bird Construction is a Canadian contractor building and maintaining large industrial, institutional, and commercial projects, from data centers and energy facilities to hospitals, schools, and transit infrastructure, along with electrical, mechanical, and ongoing maintenance services. Its projects span nuclear, LNG, renewables, mining, and telecommunications, giving Bird broad exposure to long-term infrastructure and energy transition spending.
Bird generates all of its CA$3.5 billion in revenue from the general contracting sector in Canada. Investors tracking nuclear and wider energy infrastructure should note Bird's sizeable backlog across nuclear, LNG, data centers, and public infrastructure—a key factor supporting earnings growth forecasts despite current net margins of 1.4% and a P/E well above construction peers. The company is pursuing more recurring maintenance contracts and long-dated projects with public and blue-chip counterparties, though it relies heavily on externally funded debt and large, delayed capital projects, which can pressure margins when work is pushed out. Recent wins include a data center contract with Bell and CA$1 billion in new project awards. Bird's fast-growing backlog and premium valuation raise a clear question: is current pricing justified by coming earnings, margins, and contract quality, or are analyst forecasts missing something important?
**Oklo**
Oklo is a US-based nuclear energy company developing compact Aurora Powerhouse fission plants designed to supply 15 to 75 megawatts of electricity directly to customers such as data centers under long-term power contracts. It is also working on nuclear fuel recycling and fabrication technology to convert used nuclear fuel into fresh fuel for its own reactors.
Oklo attracts attention positioned at the intersection of nuclear power and AI infrastructure. Rather than just supplying equipment, it aims to own and operate its Aurora reactors and sell long-dated electricity contracts. The company has agreements in place, including a 12 GW arrangement with Switch through 2044, access to fuel via HALEU supply and surplus plutonium utilization deals, and regulatory progress including US Nuclear Regulatory Commission design criteria approval and US Department of Energy safety milestones for its Groves Isotope Test Reactor. However, Oklo currently reports essentially no revenue, quarterly net losses around US$33 million, and relies on external funding. Investors must weigh high growth forecasts and recent federal support against unproven profitability, regulatory risk, and volatile share prices.
**GE Vernova**
GE Vernova is an energy infrastructure company supplying equipment and services to generate, transmit, convert, store, and manage electricity across gas, nuclear, hydro, steam, wind, solar, and grid systems in the US and key international regions. Through its Power, Wind, and Electrification segments, it serves utilities, governments, and industrial customers requiring reliable large-scale power and modernized grids.
GE Vernova generates approximately US$20.3 billion from Power, US$10.8 billion from Electrification, and US$8.7 billion from Wind, partly offset by US$0.4 billion in eliminations. Investors are watching because it sits at the intersection of AI data centers, electrification, and grid upgrades, with a reported US$176 billion backlog and a large installed base of around 7,000 gas turbines supporting years of high-margin service revenue. Earnings growth has been strong in recent years, with margins shifting from weak levels to solid profitability. Yet the stock now trades on richer expectations and carries risks from loss-making Wind projects, heavy external borrowing, and recent insider selling. The Q2 2026 earnings miss and share price drop showed how quickly expectations can reset, but also raised questions about whether the growing Power and Electrification backlog more than offsets these concerns. GE Vernova's growing backlog and installed gas fleet may be obscuring a very different earnings path ahead, with real tension between Power, Electrification, and loss-making Wind segments.