Shares of nuclear energy stock Cameco (CCJ) surged 23% to a record high after a strategic partnership was formed with the U.S. Department of Commerce to accelerate nuclear power deployment. The U.S. government will invest $80 billion for new nuclear reactors utilizing Westinghouse’s technology. This development is expected to support data centers and AI infrastructure. Cameco, a major uranium supplier, is poised for growth as nuclear expansion increases globally. However, CCJ stock’s valuation is high, trading at 84.21 times forward earnings. Cameco delivered strong Q2 earnings, exceeding revenue and profit expectations. Wall Street analysts rate CCJ as a “Strong Buy.”

Read more at Barchart: Trump Just Gave Cameco a Major Boost. Should You Buy the Nuclear Energy Stock Here?