Jim Cramer Talked About These 9 Nuclear Power and Quantum Computing Stocks

5. NuScale Power Corporation (NYSE:SMR) 

Number of Hedge Fund Holders: 18

Cramer expressed worry about companies like NuScale Power Corporation (NYSE:SMR) as he said:

“When it comes to nuclear power over-enthusiasm, we’ve seen some of these smaller companies that offer alternatives to the current plants, they worry me. Companies like Oklo with nuclear fission capabilities, NuScale Power with small form factor technology, they’re exciting, but they’re also years from developing anything meaningful. Or as my friend Michael Cembalest. chair of the Market and Investment Strategy group at J.P. Morgan wrote in his… 2025 outlook, ‘What nuclear renaissance? Wake me when we get there.”

NuScale Power (NYSE:SMR) is a company focused on designing modular light water reactor (LWMR) nuclear power plants. One of the main aspects of its operations is its small modular reactor (SMR) design, which became the first of its kind to be certified by the U.S. Nuclear Regulatory Commission. Despite its progress, the company has faced significant challenges. In late 2022, the Utah Associated Municipal Power System (UAMPS) decided to terminate its agreement with the company.

This agreement, which had been in place since 2015, had originally outlined plans to construct twelve reactor modules with an expected operational start by 2023. However, as the estimated costs of the project ballooned from an initial $3 billion to $9.3 billion, UAMPS chose to end its commitment, leading to the cancellation of NuScale’s first planned small modular reactor project. The termination resulted in a $50 million charge for the company.

The year 2023 also brought further financial challenges for NuScale Power (NYSE:SMR). Soaring expenses forced the company to cancel its plans to build six nuclear reactors in Idaho. The company’s financial struggles were visible in its quarterly reports for 2024, where it reported decreasing revenue: $1.4 million in the first quarter, $1.0 million in the second quarter, and $0.5 million in the third quarter. The company also reported significant net losses during the same periods, with losses of $48.1 million in Q1, $74.4 million in Q2, and $45.5 million in Q3.