Westinghouse Electric Company, Cameco and Brookfield Asset Management entered a partnership with the United States government to build up to $100 billion worth of new nuclear reactors across the country, the companies said Tuesday.
U.S. listed shares of Cameco rose about 13% in premarket trading.
The companies said that the new reactors will be constructed across the United States using Westinghouse nuclear reactor technology.
The deal aims to accelerate nuclear power deployment and meet surging electricity demand from artificial intelligence and data centers, in line with President Donald Trump's May executive order promoting nuclear energy, the companies said.
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.
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