SMR Development Boosts Nuclear Energy Stocks and Colorado Policy

U.S. nuclear‑energy companies are gaining market traction as small modular reactors (SMRs) attract investor interest. Analyst notes highlight three stocks that have outperformed in 2026: Fluor, which secured contracts with Maryland‑based X‑Energy for four SMRs and with TeraWulf for a data‑center campus in Kentucky; Uranium Energy, which launched a U.S. uranium refining subsidiary and posted revenue growth despite a modest earnings base; and Cameco, a major uranium fuel producer reporting strong first‑quarter earnings and holding a 49% stake in Westinghouse Electric.

At the same time, Colorado's 2025 legislation now classifies nuclear generation as a clean‑energy resource, enabling SMR projects to qualify for state‑level clean‑energy programs and financing. The law seeks to incorporate advanced nuclear into the state's long‑term energy planning as demand rises from data‑center expansion, electrified transport and building loads. Regional collaboration is also emerging, with Wyoming, Utah and Idaho signing a tri‑state memorandum to create an advanced‑nuclear “energy corridor,” aiming to accelerate reactor deployment and strengthen supply chains in the Mountain West.