Cameco (TSX: CCO) (NYSE: CCJ) surged on Tuesday after the US government announced a strategic partnership with Westinghouse Electric Company, which it co-owns with Brookfield Asset Management, to accelerate the development of America’s nuclear power.
Washington envisions that at least $80 billion of new nuclear reactors will be constructed across the country, using Westinghouse nuclear reactor technology. Once constructed, the reactors are expected to generate reliable and secure power, including for significant data center and compute capacity that will drive America’s growth in artificial intelligence.
The move, the companies say, aligns with US President Donald Trump’s executive order signed in May aimed at advancing the nation’s nuclear technology development, which he sees as vital to its energy security and AI ambitions.
Cameco’s US-listed shares jumped more than 20% to an all-time…
