Nuclear energy capacity could double by 2050 amid rising AI power demand

A new global assessment by the Energy Transitions Commission suggests that nuclear energy capacity could double to approximately 750 GW by 2050, representing about 10% of the global electricity supply. This growth is driven by rising electricity demand from AI data centers and heightened energy security concerns. However, the report notes that nuclear expansion is not cost-competitive with wind and solar in most nations, and achieving these targets would require annual investment to rise from $50 billion to $200 billion.

Supply chain concentration remains a significant risk, with Russia controlling 40% of global uranium enrichment capacity as of 2025. Additionally, small modular reactors are estimated to be one to two decades away from widespread deployment.

In Northern Europe, a separate study by Energiforsk and EY Sweden emphasizes the importance of long-term operation (LTO) for existing nuclear plants. As industries in Sweden and Finland electrify and data centers expand, these nations face significant generation gaps. Without extending the life of current reactors, Sweden and Finland could face electricity shortages of up to 167 TWh and 169 TWh, respectively, by 2045.