NuScale Power Has Lost 67% of Its Value in 2026. Is It Finally Time to Buy?

NuScale Power has shed 67% of its value in 2026, sliding from $15 to under $5 per share as AI enthusiasm fades and power purchase agreements slip. The move leaves the stock priced on a single binary: whether a PPA gets signed.

The source ties NuScale's valuation heavily to a signed PPA with ENTRA1 and TVA for a 6-gigawatt small modular reactor (SMR) project. Without that signature, the stock lacks a concrete contract to anchor the rest of its story.

Sentiment is the second driver. The article says AI companies now face funding constraints and are weighing alternative energy sources. That cuts directly at the thesis that AI data center demand would pull nuclear power forward, even though the source still frames the broader nuclear opportunity as multi-trillion-dollar.

Interpretation: a drop from $15 to under $5 suggests the market has already stripped out much of the AI premium and is now pricing delay risk. That leaves the ENTRA1/TVA agreement as the clearest swing factor in either direction. A signing would validate the 6-gigawatt project; continued silence keeps the delay narrative intact.

The "is it time to buy" framing rests on this setup: a large opportunity on paper, a collapsed share price, and a valuation that hinges on one agreement rather than diversified contract wins.