Shares in X-Energy (XE), the Amazon (AMZN)-backed small modular reactor (SMR) developer, extended their Friday market-debut jump by adding another 8% gain early Monday. By contrast, rival Oklo’s (OKLO) shares were only up 1%, while NuScale Power’s (SMR) slipped into the red zone.
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Forget margin or options. Here's how the pros trade SMRX-Energy launched its initial public offering (IPO) at an offer price of $23 but closed its first regular trading day about 27% higher at $29.29, showing strong investor interest. The move sent Oklo’s and NuScale Power’s shares down on Friday.
‘The Largest Commercial Deployment’
The Maryland-based energy company was founded in 2009 by billionaire entrepreneur Kam Ghaffarian and scientist Eben Mulder. The firm specializes in developing SMRs and fuel technology for the generation of clean power, including for massive AI workloads.
Already, X-Energy has nuclear energy deployment agreements with Amazon, chemical producer Dow (DOW), and British energy services company Centrica (CPYYY). In October 2024, Amazon and Ken Griffin, the founder and CEO, anchored the company’s Series C-1 $500 million funding round, with participation from others such as affiliates of Ares Management (ARES).
X-Energy is working with Amazon to bring more than 5 gigawatts online in the U.S. by 2030. In a statement, they described the plan as “the largest commercial deployment target of SMRs to date.”
Nuclear Energy Race Intensifies
The development marks a challenge for publicly traded rivals Oklo and NuScale Power, which are both running to deliver their first nuclear power plant. The former recently secured a 1.2 gigawatt supply contract with tech giant Meta, while the latter is working with independent energy company ENTRA1 and U.S. public utility Tennessee Valley Authority to deliver up to six gigawatts of capacity.
Which Nuclear Stock Is the Best Buy?
NuScale Power offers the bigger upside of about 38% based on an average price target of $16.91, TipRanks’ Stock Comparison tool shows. This comes with a Moderate Buy consensus rating from analysts.
