Shares of nuclear energy stock Cameco (CCJ) exploded 23% to reach a record high of $110.16 on Oct. 28 after news spread that the uranium company and Brookfield Asset Management (BAM) signed a binding term sheet with the U.S. Department of Commerce to establish a strategic partnership that will accelerate the deployment of nuclear power, in accordance with the President Donald Trump’s May 23, 2025 Executive Orders.
As part of the plan, the U.S. government will help channel at least $80 billion into the construction of new nuclear reactors powered by Westinghouse’s advanced reactor technology, including near-term financing for long-lead components. For context, Westinghouse — acquired by Brookfield and Cameco in November 2023 — is a global leader in nuclear innovation.
