A Generational Opportunity to Invest in the Nuclear Renaissance with Ocean Wall
Ocean Wall
Tue 28 Oct 2025 - 15:00 GMT / 11:00 EDT / 16:00 CET
Summary
Ben Feingold, Head of Research at Ocean Wall, outlining what he sees as a generational investment opportunity in the “nuclear renaissance”. Ocean Wall presented the scale of the buildout required to meet global targets to double—and potentially triple—nuclear capacity by 2050, driven by energy security, decarbonisation and accelerating electricity demand. The discussion highlighted the growing role of hyperscale AI data centres seeking reliable, clean baseload power, strengthening the case for nuclear. Ben explained the nuclear fuel cycle and the market’s concentration risks, with Kazakhstan dominating mining and Russia holding significant conversion and enrichment capacity. Ocean Wall argued the uranium market has structurally shifted, with Western utilities increasingly exposed to supply security and procurement risk. The call reviewed the supply deficit since 2018, limited production response from major miners, and the resulting bullish setup for uranium and select equities. Ocean Wall also outlined its investment universe across power, fuel and specialist niches, sharing case studies such as US-focused uranium names and lesser-known nuclear services firms. The session closed with an overview of Ocean Wall’s research, corporate access and deal flow offering, plus plans for a listed equities fund targeting the nuclear value chain.
Topics
Nuclear is Essential for AI Infrastructure: The exponential growth of AI and data centres demands clean, baseload power, making nuclear power a unique solution, especially as AI workloads require uninterrupted power that renewables alone cannot provide.
Geopolitical Factors Favour Nuclear: The need for energy independence and the displacement of Russian energy sources have led governments worldwide to support and invest in nuclear power, ensuring long-term demand and favorable regulatory environments beyond the confinements of short-term political cycles.
Supply Deficit in Uranium Market: Primary uranium supply is constrained due to post-Fukushima production cuts and long lead times for new mines, leading to a structural supply deficit. Rising uranium prices and financial incentives are expected to further drive this trend.
Growing Adoption of SMRs and Technological Advances: Small Modular Reactors (SMRs) are gaining traction due to their enhanced safety, scalability, and ability to be co-located with data centres to provide behind-the-meter power. Technological advancements in SMR designs and nuclear fuel cycles make nuclear energy more efficient, safer, and economically viable.
Financial and Strategic Investments in Nuclear Sector: Increased capital expenditure in the nuclear sector from both financial entities and leading tech companies (Amazon, Microsoft, Meta, etc.) reflects growing strategic emphasis on nuclear power and nuclear fuel as long-term assets for a sustainable and secure energy future.
