Understanding the Market | CGN MINING Falls Over 8% AI Drives Tech Giants into Nuclear Power Sector US Nuclear Power Industry Awaits Election Results

CGN MINING fell more than 8%, as of the time of publication, it dropped by 8.26% to HKD 2, with a turnover of HKD 256 million. On the news front, on October 16th, Amazon announced that the company has signed three nuclear reactor development agreements, becoming the latest large technology company seeking new energy to meet the growing power needs of data centers; Google signed a power purchase agreement with California nuclear energy startup Kairos Power; Microsoft reached a similar purchase agreement with energy company Constellation and restarted some equipment at the Three Mile Island nuclear power plant in Pennsylvania. BOC International maintains a "buy" rating on CGN MINING. Positive market views on US nuclear power demand may strengthen its supply-demand fundamentals. The bank believes that US nuclear industry owners are still waiting for the election results before deciding on future development progress. The Republican Party is generally considered more supportive of nuclear power, which may accelerate approvals, especially environmental approvals, making the market more optimistic about nuclear power and uranium. With only two weeks left until the election, the bank advises investors to refocus on the uranium sector and prepare for event-driven trades