Trump's Nuclear Drive Fuels VanEck Uranium ETF 44% Rally As Microsoft, Google, Nvidia Chase AI-Powered Energy Boom

Kaustubh Bagalkote

September 02, 2025

The nuclear energy sector has experienced unprecedented growth as policy shifts and artificial intelligence demands drive electricity consumption to record highs.

Executive Order Quadruples Nuclear Production

President Donald Trump signed an executive order targeting a fourfold increase in domestic nuclear power production over 25 years. The initiative has provided bipartisan support for nuclear energy after decades of stagnation.

“Trump has just pushed so hard on the adoption of this technology,” said Jan VanEck, CEO of VanEck, according to FOX Business. The administration’s backing has accelerated project timelines across the industry.

VanEck Uranium ETF Posts 44% Annual Gains

The VanEck Uranium and Nuclear ETF (NYSE:NLR) has surged 44% year-to-date, raising $1 billion in assets this year alone. Total assets now sit at $2.8 billion, with the 18-year-old fund benefiting from diversified holdings beyond traditional uranium mining.

Top holdings include NuScale Power Corp. (NYSE:SMR), up 7.47% on Tuesday, PG&E Corp. (NYSE:PCG) and Nano Nuclear Energy Inc. (NASDAQ:NNE). The fund’s diversification strategy captures utilities, miners, and emerging small modular reactor companies.

See Also: Larry Ellison Mocked Cloud In 2009--Today Oracle's AI-Powered Cloud Surge Rockets Him To 2nd Richest With 42% Stock Jump This Year

Microsoft Accelerates Three Mile Island Timeline

Constellation Energy Corp. (NASDAQ:CEG) announced that Three Mile Island Unit 1 may restart in 2027, one year ahead of schedule, according to the Fox report. The acceleration follows a power purchase agreement with Microsoft Corp. (NASDAQ:MSFT) to supply its energy-intensive data centers.

The U.S. Energy Information Administration projects AI and cryptocurrency will drive electricity demand to record levels through 2026, creating sustained demand for baseload nuclear power that renewable sources cannot match.

Industry Momentum Builds Across Sector

NextEra Energy Inc. (NYSE:NEE) received Federal Energy Regulatory Commission clearance to restart Iowa’s Duane Arnold plant by late 2028. The company expects $100 million in 2025 investments alone for the restart.

Major tech companies, including Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) and NVIDIA Corp. (NASDAQ:NVDA) have invested in nuclear fusion startups, while Energy Fuels Inc. (NYSE:UUUU) gained 100% year-to-date as the only fully licensed U.S. uranium producer.

Goldman Sachs data shows AI services like ChatGPT could increase data center energy consumption by 160%, supporting long-term nuclear demand fundamentals.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Joshua Sukoff / Shutterstock.com

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