NuScale Power Valuation Retraces as SMR Market Volatility Increases

NuScale Power (NYSE: SMR) has seen a significant contraction in its valuation, with shares tumbling more than 75% over the last six months. After reaching a peak price of over $50 per share and a market capitalization of nearly $9 billion, the stock is now trading below $10 per share, bringing the company's total market value to just under $3 billion. The decline follows a period of heightened enthusiasm for small modular reactor (SMR) technology in 2025. SMRs are designed to overcome the primary barrier to nuclear expansion in the U.S.—prohibitive upfront construction costs—by offering a smaller physical footprint and lower capital requirements than traditional large-scale nuclear power plants. Despite the price correction, NuScale maintains a critical regulatory lead as the first company in the SMR sector to receive design approval from the Nuclear Regulatory Commission (NRC). The company is currently pursuing deployment projects with the government of Romania and the Tennessee Valley Authority, although these initiatives are still awaiting final approvals. While the investment remains speculative, the company's trajectory may be influenced by a nuclear-friendly federal administration. NuScale continues to compete in a volatile emerging energy sector alongside other SMR developers, including Oklo (NYSE: OKLO).