Nuclear Energy

Nuclear Energy Is Experiencing a Structural Renaissance

Nuclear power is undergoing its most significant resurgence in decades. Global investment in nuclear energy infrastructure has surged past $50 billion annually, driven by the convergence of three megatrends: insatiable AI data center power demand, national energy security imperatives, and the urgent need for zero-carbon baseload electricity that renewables alone cannot provide.

The new nuclear landscape looks fundamentally different from its predecessors. Small modular reactors (SMRs) and microreactors promise faster construction timelines, lower capital requirements, and deployment flexibility that traditional gigawatt-scale plants cannot match. Regulatory frameworks are adapting, with the U.S. NRC streamlining approval processes for advanced designs.

The investment thesis is compelling: nuclear is the only proven technology capable of delivering gigawatt-scale, always-on, carbon-free power. As hyperscale data centers proliferate to serve AI workloads, nuclear power purchase agreements have become a strategic priority for major technology companies. Microsoft, Google, and Amazon have all announced nuclear partnerships.

Uhlig Capital's nuclear exposure includes Aalo Atomics (microreactors, $100M Series B) and Standard Nuclear ($140M Series A) - both accessed through our fund-of-funds portfolio. These companies are positioned to capture demand from the structural growth cycle that nuclear energy is entering.