Forget NuScale's Quarterly Numbers: Its TVA Deal Could Be the Biggest Nuclear Contract in U.S. History.

Nuclear energy could become a $10 trillion business, according to Bank of America analysts, who are particularly enthusiastic about small modular reactors (SMRs). SMRs may reshape nuclear energy supply chains within the next decade as electricity demand increases due to the growth of AI and data centers. NuScale Power, the only U.S.-approved company to build SMRs, has secured a major contract with the Tennessee Valley Authority (TVA) for a 6-gigawatt facility, which would be the world's largest SMR if constructed.

NuScale's second-quarter results will be released on Nov. 5, and the company will only see significant progress if a power purchase agreement (PPA) is signed with the TVA, unlocking construction. However, NuScale's market capitalization remains under $4 billion, and the company's stock price has been volatile, reflecting skepticism about the TVA project's success.

Despite previous setbacks with other major customers, a signed PPA could significantly boost NuScale's stock price and business prospects.