Cameco Corp (NYSE: CCJ) rallied nearly 19% this morning after the world’s largest uranium firm teamed up with the Trump administration on an $80 billion nuclear power pact.
The US has also partnered with Westinghouse Electric and Brookfield Asset Management on this land-mark initiative aimed at bolstering America’s energy infrastructure and meeting the AI-driven demand for electricity.
The disclosed agreement will fund the construction of new Westinghouse AP1000 nuclear reactors across the country – projects expected to support over 100K construction jobs and power energy-hungry data centers.
Following today’s rally, Cameco stock is up a whopping 170% versus its year-to-date low in April.
Why is this nuclear pact majorly bullish for Cameco stock
The US government’s nuclear power pact announced today is a structural tailwind for CCJ shares, which stand to benefit on multiple fronts.
As a strategic partner and uranium fuel supplier for Westinghouse’s AP1000 reactors, Cameco is now embedded in the US nuclear buildout.
More importantly, the scale of the agreement – at least $80 billion – implies sustained demand for enriched uranium over the next decade.
The deal also improves Cameco’s global footprint since the Trump administration eventually aims to export Westinghouse technology to allies like Poland, Ukraine, and Bulgaria.
With nuclear gaining bipartisan momentum as a clean, reliable power source, CCJ’s vertically integrated model, from mining to fuel fabrication, positions it as a key enabler of energy transition.
Are CCJ shares attractive as long-term holding?
Yes – Cameco shares offer a compelling long-term bull case.
The company has transformed from a cyclical uranium miner into a strategic energy partner with pricing power and geopolitical relevance.
Its recent acquisition of a stake in Westinghouse gives it downstream exposure to reactor services and technology, diversifying revenue streams.
Financially, CCJ boasts a solid balance sheet, disciplined capital allocation, and long-term contracts that shield it from spot price volatility.
While it’s trading at a premium (~80x forward earnings), that valuation reflects its scarcity value in a world re-embracing nuclear.
As governments prioritize energy security and decarbonization, CCJ stock is one of the few investable pure plays on the uranium renaissance.
How to play Cameco heading into 2026
The US nuclear power pact marks a generational inflection point for energy policy – and Cameco is at the heart of it.
While short-term volatility may persist, the structural demand for uranium is now underpinned by national security, AI infrastructure, and global decarbonization goals.
For investors seeking exposure to the intersection of energy, geopolitics, and technology, CCJ shares offer a uniquely levered bet on the future.
Heading into Tuesday, Wall Street had a consensus “buy” rating on Cameco stock with price targets going as high as $106, and it’s reasonable to assume that some firms could push it higher after the $80 billion initiative today.
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