According to the Bank of America's latest report, nuclear energy could be the answer to growing global power shortages as demand for electricity continues to rise, driven by the rapid expansion of data centres, the AI revolution, industrial growth and wider electrification. To meet this demand, global nuclear capacity would need to triple by 2050, requiring investment of more than $3 trillion over the next 25 years.

Industry experts suggest that small modular reactors (SMRs) are likely to play a central role in this transformation. These compact, lower-cost reactors can be built faster than traditional plants and scaled to meet the needs of emerging markets such as shipping, heavy industry and high-demand digital infrastructure.

The report highlights strong momentum behind nuclear power, with supportive government policies, renewed public confidence and accelerating investment across the supply chain. From uranium mining and enrichment to advanced reactor development, companies are experiencing renewed growth, reflecting what many analysts are calling a “rediscovery” of nuclear energy.

Bank of America concludes that nuclear is one of the most consequential energy technologies of the next quarter century, offering reliable, safe and clean power as the world works to reduce emissions and build resilient energy systems.