NuScale Power's Small Modular Reactors Offer $10 Trillion Market Opportunity

The nuclear company's NRC-approved technology could power data centers and drive clean energy transition.

Published on Feb. 27, 2026

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NuScale Power, the developer of small modular reactors (SMRs), recently celebrated a major milestone as the only U.S. company with an NRC-approved SMR design. Its reactor technology addresses many of the pain points of traditional nuclear power, including being small, pre-made in factories, and easily assembled on-site. NuScale's SMRs are particularly attractive for data center developers that need continuous round-the-clock electricity to power artificial intelligence. Bank of America estimates the nuclear energy market opportunity at $10 trillion, and if NuScale captured just 5% of that, it would represent about $500 billion in sales.

Why it matters

NuScale's first-mover advantage with its NRC-approved SMR design positions the company to potentially capitalize on the growing demand for clean, reliable energy sources to power the electrification of the economy and the expansion of data centers. While the upside potential is significant, the company still faces challenges around cost-efficiency compared to other renewable options like wind and solar.

The details

NuScale's SMR technology features small, pre-fabricated modules that can be easily assembled on-site, allowing for incremental capacity additions. This modular approach addresses many of the pain points of traditional nuclear power plants, making NuScale's reactors attractive for data center developers who need continuous, round-the-clock electricity to power AI and other compute-intensive applications. However, NuScale's reactor technology is still relatively costly, as demonstrated by the cancelled Idaho National Labs project in 2023.

  • NuScale recently celebrated a milestone as the only U.S. company with an NRC-approved SMR design.
  • In 2025, Bank of America estimated the nuclear energy market opportunity at $10 trillion.

The players

NuScale Power

A developer of small modular reactors (SMRs) and the only U.S. company with an NRC-approved SMR design.

Bank of America

A financial services company that estimated the nuclear energy market opportunity at $10 trillion in 2025.

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What’s next

NuScale is moving forward with its first SMR project: six NuScale modules at a former coal plant in Romania.

The takeaway

NuScale's NRC-approved SMR technology represents a significant market opportunity in the growing clean energy and data center sectors, but the company still faces challenges around cost-efficiency compared to other renewable options.