Shares of nuclear power companies surged after a report that U.S. President Donald Trump would sign executive orders as early as Friday to jumpstart the industry.

Trump is expected to streamline the regulatory process for new reactor approvals and enhance fuel supply chains, Reuters reported citing four sources familiar with the matter.

U.S. power consumption is expected to touch record highs in 2025 and 2026, after stagnating for nearly two decades, as power-hungry data centers dedicated to AI and crypto miners plug into the grid.

"Our confidence in the AI revolution data center buildout is increasing under the Trump administration, with nuclear energy ultimately playing a key role in powering data centers," Wedbush analysts said in a note.

Uranium mining stocks led the gains, with Uranium Energy , Energy Fuels and Centrus Energy surging between 15% and 18%.

U.S.-listed shares of Cameco were up 6.8%, while the Global X Uranium ETF rose nearly 9%.

Nuclear utilities Constellation Energy gained 5.3%, while Vistra and GE Vernova advanced between 2% and 3.4%.

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Nuclear energy has garnered renewed interest from investors and companies, as it is considered to be a cleaner source of fuel and more reliable than wind or solar energy.

The industry is also expected to benefit from Trump's sweeping tax and spending bill, which rolled back many green-energy subsidies but preserved tax credits for nuclear energy.

"We are clearly witnessing the billowing of tailwinds behind the broader nuclear industry," H.C. Wainwright analysts said.

Shares of companies involved in developing new nuclear technology, such as small modular reactors, also gained on Friday. Sam Altman-backed nuclear startup Oklo surged nearly 18%, while Nano Nuclear Energy and NuScale Power soared more than 15% each.