NuScale Power has lost 67% of its value in 2026. Is it finally time to buy? NuScale Power's market cap is now well under $3 billion. By Ryan Vanzo - Nov 6, 2026 at 2:30PM EST Key points. * Investors have punished the shares of NuScale Power this year. * Stock price volatility largely reflects challenging macro concerns. * 10 stocks The Motley Fool, LLC like better than NuScale Power" It has been a tough year for NuScale Power (SMR +14.30%) investors. Over the first six months of 2026, shares of the nuclear energy developer fell from $15 to $10. Then, over the subsequent months, NuScale's stock price continued to sink lower. Today, shares hover just above $5. And yet the long-term picture for NuScale remains bright. The company's market capitalization is now well below $3 billion, yet it is pursuing a multi-trillion-dollar opportunity. There are plenty of reasons to believe NuScale stock has big upside potential. But are the risks worth an investment? To answer this question, investors should understand two key moving parts. 1. AI sentiment will continue to drive NuScale's stock price. Nuclear power generation capacity in the U.S. has essentially been flat since the late 1980s. Domestic electricity demand generally showed little to no growth from 2005 to 2020. High costs, social backlash, regulatory hurdles, long construction times, and minimal growth in electricity demand have long deterred utilities from developing additional nuclear power facilities. The energy-hungry AI industry, however, is quickly changing that dynamic. "The U.S. electrical grid needs to add the equivalent of more than 20 New York Cities by the early 2030s," research from JPMorgan Chase concludes. "That's how much demand for power is expected to outstrip supply in the coming years - mostly due to AI data centers, whose power needs are skyrocketing far beyond existing electrical capacity, and projections for AI power needs are being revised ever higher." NuScale's small modular reactors (SMRs) can deliver low-carbon power more quickly and at a lower up-front cost than conventional nuclear power plants. That's why SMRs are receiving newfound attention, despite the idea being many decades old. Anthropic's revenue grew 12X last year. 2 ways to invest before it lists. Somebody is going to make a fortune on Anthropic's IPO. It probably won't be regular investors waiting for the day it goes public. Unless investors know where to look. Because two companies anyone can buy today already own pieces of Anthropic. And one of them owns a piece of OpenAI, too. That attention helped NuScale go public through a reverse merger in 2022 at roughly $10 per share. By 2025, enthusiasm for artificial intelligence (AI) reached a fever pitch. More data center construction meant more potential business for NuScale, fueling its stock price above $50. In recent weeks, however, confidence in a massive, capital-intensive AI data center build-out has waned. Bloomberg reports that AI enthusiasm is "collapsing," with signs that sentiment may continue to slide. If this trend continues, expect NuScale's stock price to suffer. SMR - NuScale Power. $5.00 +$0.63 (+14.30%) NYSE · As of 2:48 PM ET 11/06/26 SMR · 5Y -56.04% Key data points. Market cap $1.79B Day's range $4.64 - $5.08 52wk range $4.28 - $32.09 Volume 28.2M Avg volume 33.8M Gross margin 16.03% 2. Real-world project catalysts create upside opportunity. NuScale's stock price weakness has largely reflected challenging macro factors. Another challenge has been a lack of company-specific catalysts. The biggest potential catalyst is news regarding a power purchase agreement (PPA) for its biggest SMR project with ENTRA1 and the Tennessee Valley Authority. This planned 6-gigawatt system would be the largest in the world. But key partners have yet to commit financially by signing a long-term PPA. In February, NuScale's management team noted that the PPA drafting process had begun. In August, CEO John Hopkins confirmed that he is communicating with ENTRA1 - NuScale's financing partner - daily about a PPA. But The Motley Fool, LLC has yet to receive any word on whether a signed PPA is on the horizon. NuScale's third-quarter earnings call is scheduled for Thursday, Nov. 5. If there is any positive news regarding a potential PPA, NuScale shares could respond sharply. Beyond the upcoming earnings call, however, a finalized PPA might be the only positive potential catalyst for NuScale if AI enthusiasm - and thus enthusiasm regarding long-term SMR adoption - continues to wane. "Since mid-October, the AI trade has gone from market engine to market problem," research from Barclays warns. "The AI build-out increasingly relies on outside capital, and the signals from capital markets have turned less friendly." To be clear, demand for AI technologies continues to surge. What's now in question is how fast and aggressive the data center build-out will be. A more controlled build-out allows AI companies to develop more conventional forms of energy generation, including natural gas, wind, and solar. NuScale's SMR technology is most attractive in an environment where AI companies are willing to pay a premium for power to come online quickly. As AI companies face funding constraints, sentiment surrounding NuScale could drop further, barring any company-specific catalysts. Should you buy stock in NuScale Power right now. Before you buy stock in NuScale Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and NuScale Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of its recommendation, you'd have $353,560!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of its recommendation, you'd have $1,115,850!* Now, it's worth noting Stock Advisor's total average return is 852% - a market-crushing outperformance compared to 203% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. *Stock Advisor returns as of November 6, 2026.

NuScale's Q3 revenue falls to $281,000 as it starts reactor fabrication with Doosan. Key points * Revenue was $281,000 versus $8.2 million a year earlier; net loss attributable to Class A stockholders was $43.7 million, or $0.11 a share [[1]]. * Cash, cash equivalents and short- and long-term investments totalled about $1.9 billion at September 30 [[1]]. * Doosan Enerbility will fabricate the first upper reactor coolant system for the NuScale Power Module in Changwon; terms were not disclosed [[1]] [[2]]. NuScale Power reported third-quarter revenue of $281,000, down from $8.24 million a year earlier, when Fluor's engineering work for the RoPower project in Romania was still generating sales [[1]]. Net loss attributable to Class A stockholders was $43.7 million, or $0.11 a share, against $273.3 million, or $1.85, in the third quarter of 2025 [[1]]. The EPS matched the Zacks consensus, while revenue missed it by about 91% [[3]]. CEO John Hopkins said the company "progressed from development to physical production" in the quarter [[1]]. On October 29, NuScale signed a contract with Doosan Enerbility to build the first upper reactor coolant system, the top section of the reactor pressure vessel, at Doosan's Changwon plant [[2]]. Neither company disclosed the value [[2]]. NuScale did not report a firm plant order; it said it continues to support ENTRA1 Energy's talks with the Tennessee Valley Authority on a large commercial deployment program, without terms or a timeline [[1]]. In the same quarter it began fabricating first-of-a-kind reactor safety components with MillenniTEK [[1]]. Quarter at a glance. | Metric | Q3 2026 | Q2 2026 | Q3 2025 | | Revenue | $0.28M | $0.08M | $8.24M | | R&D expense | $18.0M | $18.4M | $11.1M | | Loss from operations | $(64.8)M | $(64.0)M | $(538.4)M | | Net loss to Class A | $(43.7)M | $(47.5)M | $(273.3)M | | EPS | $(0.11) | $(0.13) | $(1.85) | Figures are from the release [[1]] and MLQ's SEC-derived quarterly financials [[4]]. The year-ago loss included $519.2 million of general and administrative expense [[1]]. Investment income rose to $19.1 million from $5.8 million, cushioning the operating loss [[1]]. Cash and investments fell from about $1.89 billion at June 30 to $1.86 billion [[4]]. Zacks says the shares have lost about 63.8% this year [[3]]. Companies mentioned. At the intersection of AI, tech, and markets. The stories that matter, in one email. Free - unsubscribe anytime.

NuScale Power reported third-quarter 2026 revenue of $0.3 million, down from $8.2 million a year earlier, when work on the RoPower project in Romania boosted sales. Operating expenses fell to $65 million from $549 million. The company ended the quarter with about $1.9 billion in liquidity, up from about $916 million a year ago. It has agreed with Doosan Enerbility to manufacture the first article production of its power module, a step from development to physical production. Chief executive officer John Hopkins said NuScale is optimistic about a deal with the Tennessee Valley Authority, but gave no timeline. The RoPower project is delayed after a new government took office in Romania.