NuScale (SMR) Hits New All-Time High on 8th Day on Nuclear, AI Boom

We recently published These 10 Stocks Surprisingly Lead Gains While Wall Street Naps. NuScale Power Corporation (NYSE:SMR) is one of this week’s top performers.

NuScale Power extended its winning streak to an eighth straight day on Friday to hit a new all-time high, as investors continued to place bets on stocks benefitting the AI boom, thanks to strong backing from President Donald Trump.

At intra-day trading, NuScale Power Corporation (NYSE:SMR) rallied to a new record of $50.88 and maintained in the $50 level toward the end.

Year-to-date, the company has already grown by 184 percent from its $17.93 closing price on the last trading day of December 2024.

NuScale (SMR) Hits New All-Time High on 8th Day on Nuclear, AI Boom

On August 8, NuScale Power Corporation (NYSE:SMR) is set to release the results of its earnings performance for the second quarter of the year, where investors will be closely watching for any cues of deals with companies following Trump’s signing of an executive order in May that aims to quadruple the nuclear power industry in the US to 400 GW by 2050.

While we acknowledge the risk and potential of SMR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SMR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.