Going nuclear beyond 2030 | Uranium Sector Update

Global AI data centre consumption is projected to rise from around 426TWh today to more than 1,000TWh by 2030, prompting Big Tech to increasingly turn toward nuclear for its reliability, scalability and low carbon profile.

While existing reactors will meet most near term requirements, recent strategic investment into next generation nuclear providers signals a clear shift in focus to the post 2030 landscape. This renewed conviction has strengthened market sentiment and driven upgrades to our uranium price outlook, including a higher short term peak in 2026 and a long term price expectation of US$90/lb by 2030.

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