‘Trading on hype’: Investors bet against nuclear despite big tech interest

By Kayla Olaya

October 28, 2024 — 5.15am , register or subscribe to save articles for later. Save articles for later

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4 minUranium miners have emerged among the most shorted stocks on the Australian market, with local investors betting against a boom in US tech companies’ use of nuclear power to fuel energy-hungry AI data centres.Microsoft, Google and Amazon have signed multimillion-dollar nuclear deals to power their data centres. More recently, Amazon invested $US500 million ($757 million) in developing small modular reactors, and Bill Gates’ nuclear company TerraPower has secured more than $US3 billion in funding for “next-generation nuclear power”. One of Deep Yellow’s uranium mines in the Northern Territory. Credit: This surge in nuclear interest has trickled down to the ASX, though investors remain sceptical. Uranium companies Boss Energy, Paladin Energy […]

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