Uranium stocks could have another explosive few years ahead. According to the World Nuclear Association (WCA), global uranium demand is expected to soar by about 28% by 2030, as nuclear power gains momentum. That's due to the global push for energy security and the massive, growing needs of artificial intelligence data centers. In fact, as the demand for artificial intelligence grows, tech giants are turning to nuclear power to fuel their energy-intensive data centers.
Microsoft Corp. (NASDAQ: MSFT), for example, recently signed a power purchase agreement with Constellation Energy (NASDAQ: CEG). That's because Microsoft needs extra power to run the servers at its Azure business unit, and thinks nuclear might be the best way to produce that power. Alphabet (NASDAQ: GOOGL) and Amazon (NASDAQ: AMZN) are looking to nuclear power for their data centers. Alphabet partnered with Kairos Power to open small modular nuclear reactors.
You should also consider this note from Mining.com: "After 2030, output from existing mines is forecast to halve, creating a pressing need for new mines and restarts of idle operations. With it taking 10 to 20 years to develop new uranium projects, the association stressed the importance of accelerated investment now to avoid disruptions."
Also, the Trump Administration just expanded its critical minerals list to include uranium in an effort to strengthen domestic supply and reduce reliance on foreign sources. As noted by Investing News, "The designation of uranium recognizes its strategic importance in powering commercial nuclear reactors, fueling US Navy submarines and supporting defense applications. Currently, the United States imports over 95 percent of its uranium, a dependence that policymakers view as a critical national security concern."
All of which could serve as a powerful catalyst for uranium stocks, like Cameco Corp. (NYSE: CCJ), Denison Mines (NYSEAMERICAN: DNN), and Oklo (NYSE: OKLO). But if you want greater exposure at a lower cost, look at exchange-traded funds (ETFs), such as:
Uranium Stocks ETFs: Global X Uranium ETF
With an expense ratio of 0.69%, the oversold Global X Uranium ETF (NYSEARCA: URA) provides investors access to a broad range of companies involved in uranium mining, and the production of nuclear components, including those in extraction, refining, exploration, or manufacturing of equipment for the uranium and nuclear industries, holds about 50 related uranium stocks.
That includes Cameco, NexGen Energy, Uranium Energy, Paladin Energy, Denison Mines, and NuScale Power. At the moment, the URA ETF is oversold at $44.25. From here, we'd like to see it rally back to $57.50 a share, near term.
Uranium Stocks ETFs: Sprott Uranium Miners ETF
With an expense ratio of 0.75%, the Sprott Uranium Miners ETF (NYSEARCA: URNM) ETF invests in uranium miners and physical uranium. Some of its top holdings include Cameco Corp., Paladin Energy, Denison Mines, Uranium Energy Corp., Deep Yellow Ltd., Yellow Cake PLC, and Ur-Energy, to name just a few. The URNM ETF is also oversold at $55.08. From here, we'd like to see it rally back to $65 a share initially.
Uranium's Long-Term Setup Looks Compelling
Uranium is no longer just a niche energy play—it's becoming a strategic resource tied to artificial intelligence, national security, and long-term energy stability. With global demand projected to surge and supply growth constrained by long development timelines, the uranium market appears structurally tight heading into the next decade. Government support, including the U.S. designation of uranium as a critical mineral, further strengthens the investment thesis.
While individual stocks like Cameco, Denison Mines, and Oklo offer targeted exposure, ETFs such as URA and URNM may provide a more balanced way to participate in the sector's upside. If nuclear power continues gaining momentum, uranium stocks and ETFs could be positioned for another powerful leg higher.
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