NuScale Power's NRC‑Approved SMR Design Leads US Small‑Modular Reactor Push Ahead of 2033 Launch

NuScale Power (NYSE: SMR) is the only U.S. nuclear company whose small modular reactor (SMR) design has received approval from the Nuclear Regulatory Commission. The firm plans to bring its first commercial SMR online in 2033, positioning it as a potential first mover in the emerging SMR market.

The company's shares have fallen sharply, trading about 33% below their 2026 peak and hovering near $11, while analysts remain divided. Supporters cite the modular design—65 ft tall, 9 ft wide units producing up to 77 MWe—and the growing demand for low‑carbon baseload power from AI data centers and industrial electrification. Critics point to the long timeline before revenue from actual power generation begins, projected modest earnings from engineering and licensing work through 2028, and a market valuation of roughly $3.4 billion that many view as high for an unprofitable firm.

Insider selling and the recent liquidation of shares held by Fluor add further caution. Nonetheless, NuScale’s regulatory head start and the broader nuclear‑energy resurgence keep it under close watch among investors seeking long‑term exposure to next‑generation clean energy technologies.