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AI's Power Needs Outpace Data Center Growth, Affecting Nuclear Reactor Developers
Nvidia CEO Jensen Huang has stated that AI requires 1,000 times more power than current capabilities can provide. Despite this, the growth in data centers, which would typically drive demand for nuclear reactor developers like Oklo and NuScale Power, appears to be facing delays. Oklo, still in pre-application stages with the Nuclear Regulatory Commission (NRC), and NuScale Power, which holds NRC approval but awaits customer procurement, may not see immediate benefits from AI's power demand. The situation suggests that reactor demand is contingent on actual data center expansion rather than just AI power forecasts. The trajectory of data center construction in Texas and Missouri will be key indicators to watch.