Cameco, Brookfield Asset Management Shares Rise on Nuclear Power Partnership With U.S. Government
By Adriano Marchese
Shares in Cameco and Brookfield Asset Management rose Tuesday morning after the U.S. government formed a partnership with their company Westinghouse Electric to help build nuclear reactors.
Cameco shares trading in Toronto rose 16% higher to 140.64 Canadian dollars ($100.53) while Brookfield shares rose 2.3% to C$78.16.
The plan is for the U.S. to build at least $80 billion of new nuclear reactors across the country to fill the growing need for energy.
The strategic collaboration aims to speed up how quickly nuclear power is brought online, in step with President Trump's executive orders issued back in May, the parties said in a statement Tuesday.
The U.S. is facing a sharp rise in energy demand driven by AI, electrification, and industrial growth, while supply chains and infrastructure struggle to keep pace.
Under the new partnership formed between the U.S. government, Westinghouse Electric, Cameco and Brookfield Asset Management, new reactors will be built using Westinghouse technology, and generate power for data center and computing capacity.
Cameco and Brookfield completed their acquisition of Westinghouse Electric in November of 2023, giving Brookfield a 51% stake and Cameco the other 49%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 28, 2025 10:14 ET (14:14 GMT)
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