May 23 (Reuters) - U.S. Energy Secretary Chris Wright said that President Donald Trump will sign executive orders on Friday aimed at boosting nuclear power.
Reuters reported on Thursday that Trump would sign orders that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains.
Shares of nuclear power companies surged in morning trading. Lightbridge rose 24%; NANO Nuclear Energy rose 18%; Uranium rose 17%; Oklo rose 14%, Centrus rose 13%; NuScale Power rose 10%.
"Our confidence in the AI revolution data center buildout is increasing under the Trump administration, with nuclear energy ultimately playing a key role in powering data centers," Wedbush analysts said in a note.
Nuclear energy has garnered renewed interest from investors and companies, as it is considered to be a cleaner source of fuel and more reliable than wind or solar energy.
The industry is also expected to benefit from Trump's sweeping tax and spending bill, which rolled back many green-energy subsidies but preserved tax credits for nuclear energy.
"We are clearly witnessing the billowing of tailwinds behind the broader nuclear industry," H.C. Wainwright analysts said.
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