Overview

• The IEA says new projects cannot rely solely on public money and calls for financing costs to fall, with annual investment needing to double to about $120 billion by 2030.
• The agency highlights small modular reactors as a cost-dependent option that could reach roughly 80 GW by 2040 if the industry hits aggressive cost targets.
• Wall Street caution is rising as Bank of America flags stretched valuations and downgrades Oklo to neutral and NuScale to underperform.
• Tech demand for clean power is accelerating deals, including Microsoft’s 20-year purchase agreement with Constellation, while U.S. restarts like Palisades advance with federal support.
• China has supplied about 80% of recent new capacity and is on track to overtake the U.S., while EU recognition of nuclear as clean and UK–France build plans aim to spur investment that Morgan Stanley sees reaching $2.2 trillion by 2050.