Nuclear power revival + supply concentration, has uranium reached the starting point of a decade-long bull market?

UBS believes that the global nuclear energy revival is driving uranium demand into a long-term growth channel, with expectations that demand will increase by over 50% by 2035. The supply side is highly concentrated, and major producers are adopting a "value-first" strategy, leading the market to enter a continuously expanding structural shortage after 2030. Once utilities sign long-term contracts on a large scale, it could trigger a stepwise increase in uranium prices, initiating a decade-long bull market cycle

Trump plans to invest $80 billion to restart the "AP1000" large nuclear power project with soaring costs, and Japan will "foot the bill."

To meet the power demand from the explosion of the AI industry, the U.S. government plans to invest $80 billion to restart nuclear power construction, betting on Westinghouse Electric's AP1000 large reactor technology. This plan, supported by funding from the U.S.-Japan trade agreement, aims to build 8 reactors at four locations, attempting to control the cost of each unit to $10 billion through standardized construction, in order to break the "cost curse" of long-term budget overruns and delays in U.S. nuclear power projects

To address the power shortage, the United States plans to add up to 10 new nuclear reactors, potentially with Japan "footing the bill."

Carl Coe, Chief of Staff of the U.S. Department of Energy, stated that although government intervention in the private market is contrary to convention, the current situation constitutes a "national emergency." The plan may utilize the $550 billion investment pledged by Japan. Companies in the nuclear power industry chain, such as Westinghouse Electric and BWX Technologies, are expected to benefit. This will break the stagnation of nuclear power construction in the United States that has lasted for more than a decade

The South African Minister of Electricity announced the construction of a new nuclear power plant near Cape Town and the advancement of a small modular reactor program, expecting to add 4 GW of nuclear power capacity

International Energy Agency: It is expected that by 2035, global nuclear power installed capacity will increase by at least one-third

The International Energy Agency predicts in the "World Energy Outlook 2025" that future electricity demand will grow significantly, especially in developed economies and China. Renewable energy, particularly solar photovoltaics, will grow rapidly, with China continuing to dominate the global market. Nuclear energy is expected to recover, with global nuclear power installed capacity projected to increase by at least one-third by 2035. In the short term, global oil and gas supplies are ample, but geopolitical risks remain