NuScale Power Eyes AI Data Center Demand Ahead of May 7 Earnings

NuScale Power (NYSE: SMR) has scheduled its next quarterly earnings announcement for May 7, 2026, a date that may serve as a critical catalyst for the company's near-term valuation. The market is specifically looking for evidence of new customer acquisitions within the high-growth data center sector. The company specializes in Small Modular Reactors (SMRs), which the International Atomic Energy Agency defines as advanced reactors with a power capacity of up to 300 MW(e) per unit. These systems are designed to be smaller, cheaper, and faster to construct than conventional nuclear power plants. Demand for this technology is being driven by the massive energy requirements of AI data centers. With global spending on data center infrastructure estimated to reach $7 trillion by 2030, the need for reliable, carbon-free baseload power is intensifying. While NuScale has secured utility-scale agreements with the Tennessee Valley Authority and ENTRA1, it currently trails competitors like Oklo (NYSE: OKLO) in securing dedicated data center contracts. From a macro perspective, Bank of America Global Research expects 18GW of new nuclear capacity to be added annually from 2025 through 2040. However, the acceleration of SMR-specific construction is not expected to peak until 2035, with a total of 50GW of SMR capacity projected by 2040. Currently valued at $3.1 billion, NuScale faces significant execution and adoption risks. However, the potential for a major project announcement during the May earnings call provides a tactical entry point for investors with a long-term horizon.