The Trump Administration Launches "Project Prometheus" With These Nuclear Energy Stocks (Hint: NuScale Didn't Make the Cut)

The Trump Administration selected X-Energy, Oklo, and Standard Nuclear as partners for Project Prometheus, a new AI-focused nuclear development initiative backed by $60 million in federal funding over three years. X-Energy earned Tier 1 partner status and committed $10 million to the project.

NuScale was excluded from the partnership, extending a drought of Department of Energy support that dates back to 2019. The omission stands out given NuScale's previous prominence in the small modular reactor space.

X-Energy's Tier 1 designation and financial commitment signal the administration's preference for advanced reactor designs that can power AI data centers. Oklo (OKLO) and Standard Nuclear received partner roles without disclosed funding commitments. The three-year, $60 million federal allocation represents a modest but directional bet on nuclear's role in meeting AI infrastructure power demands.

The program arrives as energy-intensive AI buildouts strain grid capacity. Nuclear stocks have rallied in recent months on expectations that tech companies will need baseload power sources beyond intermittent renewables. XLE, the energy sector ETF, provides broader exposure to the energy transition theme.