2 Nuclear Energy Stocks to Buy in March

Oklo and NuScale Power continue to attract nuclear investors.

Published on Mar. 2, 2026

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It has been a rough year for nuclear energy stocks that aim to bring small modular reactors (SMRs) into the mainstream, with Oklo and NuScale Power seeing significant declines. However, experts believe the potential for SMR technology is tremendous, particularly in powering the rapid growth of data centers for AI development. While both Oklo and NuScale stocks are trading at relatively low valuations, investors should be prepared for a lengthy and volatile investment journey due to the challenges of regulatory approval and lack of revenue-producing customers.

Why it matters

The rise of AI and data centers has created a surge in electricity demand, and nuclear energy, particularly SMR technology, is seen as a potential solution to meet this growing power need in a low-carbon way. If successful, SMR companies like Oklo and NuScale could be poised for significant long-term growth, making them attractive investment opportunities for aggressive, patient investors.

The details

Oklo (NYSE: OKLO) and NuScale Power (NYSE: SMR) have both seen their share prices decline significantly so far in 2026, by over 10% and 20% respectively. However, experts believe the long-term potential for SMR technology remains strong, as it could revolutionize nuclear power by making it faster, cheaper, and more efficient to deploy. Many experts are bullish on the technology's potential, with a new Bank of America report estimating that nuclear energy could become a $10 trillion opportunity. Both Oklo and NuScale are trading at relatively low valuations, with NuScale's market value down to just $4 billion and Oklo's at around $10 billion. However, investors should be aware of the significant risks involved, including lengthy regulatory approval processes, lack of revenue-producing customers, and ongoing dilution of shareholders to raise cash.

  • NuScale Power received the first approval for an SMR design from the U.S. Nuclear Regulatory Commission in 2023.
  • NuScale's first installed system is not expected to be online until 2030 at the earliest.
  • Oklo could have its first small system up and running by "late 2027", but the company does not yet have regulatory approval to build this system following the denial of its first approval request in 2022.

The players

Oklo

An American company that is developing small modular nuclear reactors.

NuScale Power

An American company that is the first to receive approval for an SMR design from the U.S. Nuclear Regulatory Commission.

Bank of America

A financial services company that published a report estimating that nuclear energy could become a $10 trillion opportunity.

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What they’re saying

“In many ways, nuclear energy has been 'rediscovered' amid surging electricity demand ignited by the rise of AI/data centers, building electrification, industrial growth, and EV.”

— Bank of America (Bank of America report)

The takeaway

While the long-term potential for small modular nuclear reactors remains promising, particularly in powering the growth of data centers and AI, investors in Oklo and NuScale stocks should be prepared for a lengthy and volatile investment journey due to the significant regulatory and financial hurdles these companies face in bringing their technology to market.