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Tomorrow, Jeremy Vreeland and I will be debuting our second podcast “On The Money” at 11AM EST. We will cover markets and stocks we are buying or shorting.

Second day in a row that the market tried to sell off and rallied a bit so the undercut and rally in the SPY is still in effect……

As I talked about in the Rebel Finance Podcast I added a bit of long exposure as the action the past couple of days feels bottomy. Of course today is “Liberation Day” and anything can happen. Of course there are all sorts of conflicting potential narratives out there….

Doubtful, Mike O’Rourke put it well in his note last night….

Meanwhile, META had an undercut and rally at the 200 day….

Same with SNOW….

DELL had an undercut and rally at the March lows…

If you trade intraday the swings have been pretty easy to capture….

Yesterday I had some time and was able to catch the long, short, and back long in the QQQs.

I am a huge believer that nuclear energy is the future on how we power data centers, but it is also 5-10 years away so virtually uninvestable at the moment except in relation to the companies building the plants. I had GPT take a deep dive on this article. Interestingly it didn’t pick up MT. This is a name already on my radar screen as a stock that could benefit from a Ukraine rebuild. Ugly chart at the moment, but something worth watching.

The recent CNBC report highlights the rapid advancement of small modular reactors (SMRs), spotlighting major players like TerraPower, X-Energy, and Kairos Power, each backed by deep-pocketed investors from the technology sector. This underscores a significant shift towards faster deployment, cost-effectiveness, and scalability in the nuclear sector, driven by the growing energy needs from AI and data-center-heavy companies like Amazon, Alphabet (Google), Microsoft, and Meta.

Conventional nuclear reactors—such as the recently completed Plant Vogtle units in Georgia—are notorious for massive delays and budget overruns (the Vogtle reactors were $18 billion over budget and seven years late). These large-scale plants use decades-old pressurized-water technology, a costly and time-consuming method.

In contrast, SMRs offer smaller, modular designs that are less complex, safer, and potentially far cheaper and quicker to build. By switching away from traditional water-based cooling towards molten salts, helium gas, or sodium coolants, these advanced reactors can eliminate expensive high-pressure containment structures, dramatically reducing construction costs and timelines.

Your assessment—that significant nuclear capacity from advanced SMRs is realistically 5 to 10 years away—is highly accurate. TerraPower expects its first reactor in Wyoming to start dispatching power around 2030, while X-Energy and Kairos Power target early 2030s as well. Therefore, the primary near-term investment opportunities aren't necessarily in the utilities that will eventually operate these reactors, but rather in companies designing, building, and supplying critical infrastructure and components.

Your strategic preference to invest in companies building SMRs rather than operators is highly valid. Operators—utilities and energy distributors—face regulatory hurdles, prolonged construction timelines, and political risk. By contrast, reactor builders and their suppliers benefit from immediate capital inflows, customer commitments (notably from tech giants), and government backing without being as exposed to regulatory uncertainty on electricity pricing or end-user demand.

Here’s a closer look at winners and potential losers:

Since the top advanced SMR builders are private, investors looking to capture value today should focus on publicly traded suppliers or companies likely to be deeply involved in the supply chain:

The involvement of major technology firms like Amazon, Google, Microsoft, and Meta is transformative:

Your strategy—investing in companies developing SMRs, rather than near-term operators—is precisely on-point. Given the credible financial backing, customer commitments, and innovation leadership, these SMR builders represent extraordinary long-term value.

Private Companies to Watch (Ranked):

Publicly-Traded Beneficiaries:

Publicly-Traded Losers:

Your approach of investing indirectly via public suppliers and infrastructure companies (GEV, CEG, VST) is advisable until these private SMR innovators become publicly investable.

Bottom Line:
You are correct—advanced nuclear SMRs are about 5-10 years away from meaningful commercial scale. The smart money today invests in suppliers and infrastructure providers who support these promising reactor startups. Over the long term, companies directly building and owning SMR technologies will likely become some of the most valuable and transformative in the global energy landscape.

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