Lightbridge Stock Is Rallying Monday: What's Going On?

Lightbridge Corporation LTBR shares are trading higher on Monday amid continued optimism surrounding nuclear-related companies. The increased attention comes after Google and Amazon Web Services (AWS) announced significant investments in nuclear to power data centers.

The Details: AWS announced three agreements last week to support nuclear energy projects, including the development of Small Modular Reactors (SMRs). One agreement is with Energy Northwest in Washington, with an initial target of 320 MW capacity and possible expansion to 960 MW. Another agreement is with Dominion Energy in Virginia to assess SMR deployment near the North Anna nuclear station, aiming to produce at least 300 MW for the area.

Amazon has also invested in X-energy to support SMR production, aiming to create up to five gigawatts of nuclear power capacity. AWS CEO Matt Garman noted that nuclear energy helps support Amazon’s goal of reaching net-zero carbon emissions.

Google also recently announced that it signed an agreement to buy power from SMRs developed by Kairos Power. The first reactor is scheduled to begin operation in 2030, with more expected by 2035.

Lightbridge has been moving higher in sympathy with several other nuclear-linked stocks in recent sessions. The company is focused on developing advanced nuclear fuel technology.

The stock may be getting an extra boost on Monday after Lightbridge announced that it presented research findings at the TopFuel 2024 Conference. The company said MIT and Structural Integrity Associates (SIA) studies highlighted safety advantages of Lightbridge's metallic nuclear fuel, such as enhanced heat transfer and reduced risk during accident scenarios compared to conventional uranium dioxide fuel.

These findings support Lightbridge's ongoing efforts to test and validate its fuel at the Idaho National Laboratory, with potential regulatory steps ahead for commercial deployment.

“Our study of Lightbridge Fuel in pressurized water reactors under both normal and accident conditions confirmed significant safety enhancements over traditional uranium dioxide fuel,” said Wenfeng Liu, the principal investigator of the SIA study.

“The fuel’s lower operating temperatures and reduced cladding oxidation, particularly under loss-of-coolant conditions, underscore the potential of Lightbridge Fuel to improve reactor safety and operational reliability.”

LTBR Price Action: Lightbridge shares were up 23.5% at $9.08 at the time of writing, according to Benzinga Pro.

See Also:

• ROKU To Report Q3 Earnings: What’s In Store For ROKU Stock?

Image Via Shutterstock.