Group 1 - President Trump emphasized the importance of nuclear energy at the World Economic Forum, announcing an executive order to approve new nuclear reactors and aiming to expand U.S. nuclear capacity to 400 gigawatts by 2050 [2][3] - Shares of Oklo, NuScale Power, and Nano Nuclear Energy experienced gains following Trump's announcement, although they remain approximately 50% down from their 52-week highs due to broader market corrections [3][6] - The Department of Energy allocated $2.7 billion for uranium enrichment, aiming to reduce foreign dependence and support the rising energy demand from AI data centers, which could benefit advanced nuclear developers [4] Group 2 - Oklo is focusing on microreactors, specifically its Aurora design, and is working towards operational readiness for its first plant by 2027-2028, with a significant deal in place with Meta Platforms for a 1.2-GW nuclear campus in Ohio [5][6] - Despite being pre-revenue, Oklo has received a buy rating from Bank of America with a target price of $127, indicating positive market sentiment towards the company [6] - NuScale forecasts a loss of $0.92 per share for 2026, highlighting the financial challenges faced by these companies as they navigate the nuclear energy landscape [6]

Core Insights - NuScale Power and GE Vernova are key players in the nuclear energy sector, focusing on small modular reactors (SMRs) and power solutions respectively [1][2] - The global small modular reactor market is projected to grow from $5.96 billion in 2025 to $8.77 billion by 2032, with a CAGR of approximately 4.59% [2] NuScale Power Overview - NuScale Power is the only SMR vendor with U.S. Nuclear Regulatory Commission (NRC) design approval, providing a competitive edge [4] - The company has a significant project with ENTRA1 and Tennessee Valley Authority (TVA) for a 6-GW SMR program, which includes 72 modules across multiple plants [5] - Despite its advantages, NuScale Power's revenues are currently low, reporting $8.2 million for Q3 2025, and it faces substantial milestone payments [6] - The TVA agreement is not yet a binding Power Purchase Agreement (PPA), which poses risks for future revenue generation [7] GE Vernova Overview - GE Vernova is advancing in the SMR market with the BWRX-300, designed to produce around 300 megawatts per unit [8] - The partnership with Samsung C&T enhances GE Vernova's market prospects, particularly in Europe, with plans for deploying five BWRX-300 units in Sweden [9] - GE Vernova is progressing through the U.K. regulatory process and has active projects in Canada and the U.S., indicating strong project development [10][12] Earnings Estimates Comparison - NuScale Power's 2026 earnings estimate is a loss of $0.62 per share, improving from a projected loss of $2.23 per share in 2025 [13] - In contrast, GE Vernova's 2026 earnings estimate is $13.27 per share, up from $12.77, showing a significant improvement from 2025's projected earnings of $7.29 per share [14] Price Performance and Valuation - Over the past six months, GE Vernova shares have increased by 6.5%, while NuScale Power shares have decreased by 58.2% [16] - NuScale Power has a forward sales multiple of 43.12X, significantly higher than GE Vernova's 4.36X, making GE Vernova more attractive for value-seeking investors [18] Conclusion - Both companies are positioned to benefit from the nuclear energy sector's growth, but NuScale Power faces challenges with small revenues and long project timelines [21] - GE Vernova's partnerships and regulatory progress provide a more stable investment outlook, making it a preferable choice for investors [22][24]

Group 1 - Oil stocks generally rose, with CNOOC (02883) up 4.32%, PetroChina (00857) up 3.33%, CNOOC (00883) up 2.98%, and Sinopec (00386) up 3.01%. International oil prices saw a slight increase, with WTI crude oil futures for February closing at $60.62 per barrel, up 0.43%, and Brent crude oil futures for March at $65.24 per barrel, up 0.49% [1] - CATL (03750) fell over 4%, down 4.4% as of the report. A report from Citi raised concerns about CATL's growth prospects due to slowing EV sales in China, rising lithium prices, and reduced export VAT rebates [1] - Kintor Pharmaceutical (02171) rose nearly 4% after announcing a clinical collaboration with Dispatch Bio to initiate a Phase I clinical trial in China by 2026 for a treatment method targeting solid tumors [1] Group 2 - Guoxia Technology (02655) surged over 7% following a strategic cooperation agreement with Shuneng Electric to enhance collaboration in the energy storage sector [2] - Kingsoft Biotech (01548) dropped over 6% after its affiliate Legend Biotech's stock fell more than 11%. Kingsoft reported that Legend's CARVYKTI had a net sales of approximately $555 million for Q4 [2] - Hong Kong real estate stocks saw a general rise, with Hysan Development (00014) up 5.17%, Sun Hung Kai Properties (00016) up 3.36%, and Wharf Real Estate (01997) up 4.02%. A report from Citi indicated a recovery in Hong Kong property prices, predicting a continued upward trend, albeit at a moderate pace due to tempered interest rate cut expectations [2] Group 3 - Baidu Group (09888) rose nearly 5%, with a cumulative increase of over 40% in the past two months. The company launched the official version of its Wenxin large model 5.0, featuring 2.4 trillion parameters [3] - Pacific Basin Shipping (02343) increased over 9%, reaching a new high of HKD 2.96, benefiting from a rise in the Baltic Dry Index, which increased by 74 points or 4.3% to 1803 points [3] - GDS Holdings (09698) rose nearly 3% after announcing the sale of shares in DayOne for $385 million, recovering approximately 95% of its investment principal with a return rate close to 6.5 times [4] Group 4 - The US stock market saw an expansion in gains, with the Nasdaq up 1%. Notable tech stocks like Intel (INTC.US) rose 11.72%, reaching a market cap of over $250 billion, the highest in four years [5] - The storage sector continued to strengthen, with Micron Technology (MU.US) up 6.61% and Western Digital (WDC.US) up 8.49%. Counterpoint Research indicated that the storage market has entered a "super bull market" phase, surpassing previous highs due to increased demand from AI and server capacity [5] - The Nasdaq Golden Dragon China Index surged 2%, with popular Chinese stocks like Bilibili (BILI.US) up 5.65% and Baidu (BIDU.US) up 8.17% [6]

Core Viewpoint - Nuclear stocks experienced a significant pre-market surge following President Trump's announcement of a strong push for nuclear energy development in the U.S. and the signing of an executive order to approve the construction of multiple new nuclear plants [1] Company Performance - Oklo Inc (OKLO.US) saw an increase of over 7.6% [1] - NuScale Power (SMR.US) rose by more than 5.8% [1] - Centrus Energy (LEU.US) gained over 4% [1] - Cameco (CCJ.US) increased by more than 3.6% [1]

Core Viewpoint - Nuclear power stocks experienced a significant pre-market surge following President Trump's announcement of a strong push for nuclear energy development in the U.S. and the signing of an executive order to approve the construction of multiple new nuclear plants [1] Company Performance - Oklo Inc (OKLO.US) saw an increase of over 7.6% [1] - NuScale Power (SMR.US) rose by more than 5.8% [1] - Centrus Energy (LEU.US) gained over 4% [1] - Cameco (CCJ.US) increased by more than 3.6% [1]

Core Viewpoint - The Global X Uranium exchange-traded fund has experienced significant growth over the past year and continues to show potential for further advancement [1] Group 1 - The Global X Uranium ETF has been a focal point in the market due to its substantial performance last year [1]

Core Insights - NuScale Power is experiencing increased demand due to the rise of AI-driven data centers, which require reliable and continuous power supply [1][5] - The company believes its small modular reactors (SMRs) can meet this demand effectively, particularly in behind-the-meter power solutions [2][11] - NuScale Power's commercial plans are supported by agreements with ENTRA1 and the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts (GW) of nuclear capacity [3][11] - The U.S.-Japan framework aims to mobilize up to $550 billion in investments to enhance energy infrastructure, with NuScale Power and ENTRA1 being key players in this initiative [4][11] Demand and Market Position - The demand for power from data centers remains robust, and NuScale Power's future growth hinges on securing binding power purchase agreements and advancing project timelines [5][11] - The company faces significant competition in the nuclear energy sector from firms like Oklo and Constellation Energy, which are also pursuing clean energy solutions for data centers [6][7][8] Financial Performance - NuScale Power's stock has declined by 55.6% over the past six months, compared to a 52.4% decline in the Zacks Electronics - Power Generation industry [9] - The company's shares are currently trading at a trailing 12-month Price/Book ratio of 13.86, which is higher than the industry average of 13.21 [13] - The Zacks Consensus Estimate for 2026 indicates a projected loss of 62 cents per share, an improvement from a previous estimate of a 67 cents loss [16][17]

Core Viewpoint - Amentum has been selected as the program delivery partner for the first deployments of Rolls-Royce Small Modular Reactor (SMR), which aims to provide up to 1.5GW of low-carbon energy in the UK, supporting net zero goals and creating over 8,000 long-term jobs [1][4]. Group 1: Partnership and Responsibilities - Amentum will serve as the program delivery partner responsible for integration, oversight, governance, construction management, and execution of SMR deployment [2][3]. - The collaboration between Amentum and Rolls-Royce SMR is expected to enhance energy security in the UK and continental Europe, leveraging Amentum's expertise in complex energy infrastructure [4][5]. Group 2: Project Execution and Impact - Amentum will utilize its nuclear life cycle experience to ensure the on-time and on-budget delivery of SMR-generated power in the UK and Czech Republic [3][4]. - The partnership is anticipated to significantly advance the deployment plans for Rolls-Royce SMRs, contributing to the growth of the energy sector and job creation in the UK over the next four years [4][5]. Group 3: Industry Context and Future Outlook - With global electricity demand projected to double in the coming decades, Rolls-Royce SMR represents a new approach to nuclear energy, featuring smaller, scalable, factory-built power plants [4]. - Amentum's extensive experience and robust supplier network are positioned to meet growing energy requirements and drive long-term industrial growth [4][5].

Industry Overview - Nuclear energy is experiencing a resurgence as a cleaner and more scalable energy source, driven by the increasing demand for energy from AI data centers [1] - The interest in nuclear power is particularly focused on smaller-scale nuclear reactors, known as small modular reactors (SMRs) [1] Company Comparison - NuScale Power and Nano Nuclear Energy are both involved in the SMR business, with NuScale focusing on permanently installed SMRs and Nano specializing in microreactors [3] - Investors are currently valuing both companies based on their future potential rather than current results, with Nano being perceived as the "smaller" company [4] Market Capitalization and Potential - NuScale has a market cap of approximately $6 billion, while Nano's market cap is around $1.75 billion, suggesting that Nano may have greater long-term upside potential, though this could also indicate greater uncertainty about its future success [5] - NuScale has already received regulatory approval for its reactors and is in the commercialization stage, with last year's revenue reported at $40 million and expectations for sales to triple this year [7]

Core Insights - X-energy Reactor Company and SGL Carbon have entered into a 10-year graphite supply agreement for X-energy's Xe-100 small modular reactor, with an initial three-year contract valued at over $100 million [1][2] - The agreement aims to enhance X-energy's supply chain for its 11 GW commercial pipeline, supporting the production readiness for future projects [1][4] Company Overview - X-energy is a leading developer of advanced small modular nuclear reactors and fuel technology, focusing on clean energy generation and redefining the nuclear energy industry with safer and more efficient designs [5] - SGL Carbon is a world leader in carbon-based solutions, generating sales of 1.0 billion euros in 2024 and employing approximately 4,400 people across 29 locations [6] Partnership Details - Under the initial contract, SGL has begun producing graphite components using NBG-18 medium-grain isotropic graphite for the Xe-100 reactor, which is part of a four-unit plant in Texas [2][3] - The long-term framework includes reserved production capacity for the Cascade Advanced Energy Facility, a planned 12-unit Xe-100 project in Washington State [2][3] Strategic Importance - The partnership is expected to ensure supply chain continuity for safety-critical materials, supporting X-energy's growing commercial order book [2][4] - X-energy's collaboration with SGL builds on previous agreements with other industrial leaders, reinforcing a resilient U.S. and allied industrial ecosystem for advanced nuclear energy [4]