U.S. uranium futures traded above $86.50 per pound, hovering near a two‑month high as improving risk sentiment coincided with signs of robust long‑term demand for nuclear power. Anticipated nuclear investment is being driven in part by future operators of power‑intensive data centers, prompting several major U.S. technology companies to sign agreements for small modular reactors.
Meta has signed agreements for up to 7.8 gigawatts of nuclear capacity to support its AI services, while Microsoft has committed to renewing older reactors that will exclusively supply more than 800 megawatts to its AI data center operations.
At the policy level, the U.S. government has moved to ease regulations on the construction and permitting of uranium conversion and enrichment facilities and has announced new deals to build additional nuclear power plants. These include a partnership with Cameco, which cleared the way for development of Westinghouse reactors, as well as a new $2.7 billion package of contracts awarded to Centrus and two other reactor and enrichment companies.
