Technology and Power Infrastructure
Here’s the short version: Recent U.S. policy actions have addressed aspects of the nuclear regulatory framework, developments that may be relevant to ongoing discussions around data center power needs and broader energy infrastructure trends.
In July 2024, Congress passed—and the President signed—the ADVANCE Act, telling the Nuclear Regulatory Commission (NRC) to streamline environmental reviews, cut or eliminate certain fees, and publish guidance for licensing microreactors within 18 months. In practical terms, certain processes and reviews provide additional guidance which may affect how advanced nuclear projects cost or are evaluated.
You can also see momentum in the field. Vogtle Unit 4 in Georgia entered commercial operation in spring 2024, the first new U.S. reactor of the modern era. The NRC then approved NuScale’s uprated 77-MWe small-modular reactor design in May 2025, while TVA formally applied to build a GE Hitachi BWRX-300 at Clinch River. On the fuel side, the U.S. made first domestic batches of HALEU and extended Centrus Energy’s authority to keep producing it—critical for many advanced designs. These aren’t “maybe someday” headlines; they’re real steps that shorten the road from concept to electrons.
Why this matters for AI: data centers are increasingly energy intensive, particularly as computing workloads expand. The IEA projects global data-center consumption will more than double by 2030 to roughly 945 TWh, with AI the biggest driver. The U.S. Department of Energy cites EPRI estimates that U.S. data centers could reach up to 9% of domestic electricity by 2030. Utilities also report a tidal wave of interconnection requests—hundreds of gigawatts—as developers race to find firm, clean power. Nuclear’s round-the-clock output, tiny land footprint, and low carbon profile make it a compelling backbone for the AI era.
We’re already seeing the market connect the dots. In 2024, Microsoft signed a 20-year power deal with Constellation to restart Three Mile Island Unit 1 (renamed the Crane Clean Energy Center), adding ~835 MW of carbon-free capacity aimed at supporting digital growth—an unprecedented example of tech directly underwriting nuclear supply. Operations are targeted for the second half of this decade.
From an industry structure perspective, discussions often group activity into several broad categories:
- Operators & regulated utilities. Companies that already run nuclear fleets (or commission new units) can benefit from premium, carbon-free baseload tied to long-term contracts with hyperscalers. Vogtle’s completion shows these projects can get over the goal line—albeit with lessons learned. (Case study and facts above.)
- Advanced reactor platforms. SMR vendors moving through licensing milestones may be positioned for multi-site replication once first-of-a-kind risk is retired; NuScale’s design approval and TVA’s BWRX-300 application are two concrete markers. Timing still matters; deployment won’t be overnight.
- Fuel supply chain (HALEU). Many advanced designs need HALEU, and domestic capability is still scarce. It is frequently cited in policy and industry discussions as a constraint within certain advance reactor designs. Supply-chain resilience could become a premium.
- Grid & equipment. AI load doesn’t move without transformers and transmission. Large manufacturers are scaling U.S. output to meet demand—another way to participate in the build-out that nuclear will feed into.
- Power offtake/PPAs with tech. The Microsoft-Constellation deal illustrates a template: long-dated contracts that can finance restarts or new builds. If that model scales, it could lower capital costs across the stack.
Risks? Policy is moving faster, but not “fast.” Construction timelines, interest-rate sensitivity, and public acceptance still matter. Fuel standards, waste rules, and grid-connection queues are evolving. As with any theme, diversify across the ecosystem and size positions to your timeline—AI demand looks secular, but projects are lumpy.
A quality investment research firm can map these buckets to specific tickers or funds for you.
Evan R. Guido, Senior Wealth Advisors, is the Founder of Aksala Wealth Advisors LLC, a 2018 Forbes Top Next-Gen Advisors award recipient. Evan heads a team of financial strategists for clients who consider themselves the “Millionaire Next Door.” He can be reached at 941-500-5122 Aksala.com eguido@aksalawealth.com 6260 Lake Osprey Dr. Lakewood Ranch, FL 34240. Securities offered through Cetera Wealth Services, LLC member FINRA/SIPC. Advisory Services offered through Cetera Investment Advisers LLC, a registered investment adviser. Cetera is under separate ownership from any other named entity. The views and opinions presented in this article are those of Evan R. Guido and not of Cetera or its subsidiaries. These opinions are based on Evan’s observations and research and are not intended to predict or depict performance of any investment. These views are subject to change based on subsequent developments. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. These views should not be construed as a recommendation to buy or sell any securities and purely for education and entertainment. Past performance does not guarantee future results. The Top Next Gen list includes 250 rising advisors who help manage over $490 billion in client assets. Each advisor was nominated by their firm, then vetted and ranked by SHOOK Research. The rankings, developed by SHOOK Research, are based on an algorithm of qualitative criterion, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors who are considered have a minimum of four years’ experience and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass the highest standards of best practices. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Fores nor SHOOK receive a fee in exchange for rankings. Lising in this publication and/or award is not a guarantee of future investment success. This recognition should not be construed as an endorsement of the advisor by any client. No compensation was provided directly or indirectly by the recipient for participation or in connection with obtaining or using the third-party or award.