Big tech’s impact on nuclear power stocks has been almost palpable. And while artificial intelligence (AI) data center demands could act as a boon for nuclear power producers and uranium miners for some time, I’d argue that the reason to own nuclear power stocks extends well beyond the AI boom.

Growing concern over climate change and the increased emphasis on green practices from corporations will not fade away overnight. Of course, wind and solar power are bound to play a more significant part in feeding our power needs in the distant future. However, nuclear reactors seem like a clean solution to help bridge the gap as the world very slowly transitions away from fossil fuels. In short, the hunger for energy needs something timelier and more cost-effective to step up to the plate.

As nuclear reactors embrace next-generation technologies to further minimize the disastrous downsides of going nuclear, perhaps reactors of all sizes will be embraced by more corporations and cities. In short, nuclear has a ton of tailwinds riding behind it. Data center tailwinds are just one of them. In this piece, we’ll look at two nuclear energy stocks that I view as intriguing options for November.

Key Points About This Article

• Cameco and Constellation Energy look like interesting buys on weakness this November.
• It’s not just data centers that could power nuclear energy’s comeback over the next decade.
• If you’re looking for some stocks with huge potential, make sure to grab a free copy of our brand-new “The Next NVIDIA” report. It features a software stock we’re confident has 10X potential.

Cameco

Cameco (NYSE:CCJ) is a Canadian uranium miner I praised in previous pieces. While betting on the commodity producers themselves is not necessarily the best or most profitable way to bet on a trend, I do think that Cameco is one of the more value-conscious ways to bet on a long-term nuclear boom. Why? There may not be enough uranium to go around once all these new reactors go into service. Further, it’s hard to tell when the uranium market will look better on the supply side.

At the end of the day, the supply and demand dynamics of uranium are important to understand before you place a bet on one of its miners. With fewer big-league producers compared to other commodities, there’s a good chance demand could heavily outweigh demand. That’s a good thing for Cameco, a firm that’s not just an industry leader but one of the best miners around. As industry dynamics play out in 2025, I think it’s hard to envision a scenario where Cameco doesn’t rise as a winner.

Should the company fall short on earnings this week, perhaps dip-buyers should weigh jumping into the name. At the end of the day, nuclear reactors can’t stay online without a steady supply of uranium. And that’s why Cameco is such a great play for those looking to play the long game on nuclear.

Constellation Energy

Constellation Energy (NASDAQ:CEG) is a power provider that likely has a lot of nuclear tailwinds already baked in. More recently, CEG shares and many other nuclear stocks took a hit to the chin as regulators stepped in front of the big Amazon (NASDAQ:AMZN) power deal. Indeed, it was a heavy blow to the energy plays. However, I do think the best time to punch one’s ticket into a top nuclear power play is as it cools down. The stock is now off 18% from its high.

While not as large a discount as I’d like, given the run that preceded the swift correction, I do find Constellation to be one of the top nuclear power stocks to land new deals in the new year and beyond. Indeed, if a steady stream of new clients is on the way, perhaps we’ll look back on the latest dip as nothing more than noise. And despite surging over 150% in the last two years, CEG stock could still technically appeal to the value crowd at just 25.91 times trailing price-to-earnings (P/E).

Though I have no idea if the sell-off in CEG stock will worsen going into year’s end, I continue to view the company as one of the better ways to play the world’s growing appetite for nuclear energy. Further, if you’re keen on AI data center-related nuclear power, CEG is a standout option.

As always, though, don’t be too aggressive in catching the falling knife, as the share price meltdown could bring the stock right back to the $190 range — a level of support that may be worth watching.

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