The nuclear energy sector is making a big comeback, and VanEck’s Uranium and Nuclear ETF (NLR) is leading the charge with an impressive 17.29% surge in the year to date. This growth comes at a time when the demand for nuclear power is skyrocketing, thanks to the rapid rise of energy-hungry technologies like artificial intelligence (AI).
Data centers, which are essential for AI and other tech operations, are expected to use around 11% of all U.S. electricity by 2030. In response, companies like Microsoft (MSFT) and Google (GOOGL) have turned to nuclear energy. Microsoft partnered with Constellation Energy (CEG) to restart the Three Mile Island reactor and Google teamed up with Kairos Power to develop small modular reactors (SMRs).
