Uranium Stocks Thrive Amid AI Power Crisis, Market Cap Soars by 5 Trillion Won in One Day

Cameco Corp. (CCJ) closed at $134.09 on the New York Stock Exchange on the 28th, up 6.44%, with about 3.44 million shares traded. Its market capitalization now stands at roughly $53 billion (around ₩71 trillion), and the single-day increase added about $3.6 billion (approximately ₩4.9 trillion).

Year to date, CCJ has climbed more than 16%, marking six consecutive trading-day gains fueled by a rally in uranium prices and sector strength, significantly outperforming the S&P 500’s returns so far this year. Over the past 12 months, its share price has surged roughly 99%. While earnings and the uranium cycle remain favorable, opinions are divided over its now-elevated valuation.

Headquartered in Canada, Cameco is the world’s second-largest uranium producer and a core player in the nuclear fuel supply chain. Through its stake in Westinghouse, it operates across the entire nuclear fuel cycle. Rising energy-security concerns in the U.S. and Europe, carbon-neutral policies, growing power demand from AI data centers, and Western efforts to bolster domestic nuclear-fuel industries are converging to tighten uranium supplies and strengthen Cameco’s medium- to long-term growth outlook.