From the Telegraph via Yahoo Finance, May 23:
Donald Trump is poised to sign an executive order that would create a new nuclear “Manhattan Project” designed to help the US win the global race for artificial intelligence.
The order is expected to fast track the development of nuclear power stations in the United States, which would then supply the huge data centres required for AI.
The Trump administration is seeking ways to counter the “huge resources” being deployed by China to develop the nascent technology.
Chris Wright, the US energy secretary, warned earlier this year that the clamour to build the power sources required to meet the growing need from AI had become “Manhattan Project 2”, in reference to the country’s programme to develop atomic bombs during the Second World War.
He said: “It is critical, just like Manhattan Project 1, that the United States wins this race.
“China has huge resources. They are massively focused on artificial intelligence.
“If we don’t unleash American innovation and American entrepreneurs and American construction and bold moves, we will lose Manhattan Project 2.”
The executive order aims to ease the process to approve new nuclear reactors and will also bolster supply chains.
In a sign of his focus on America’s power needs, Mr Trump declared a national energy emergency on his first day back in the White House in January.
The US was the first country to develop nuclear power and has 94 nuclear reactors, supplying 97 gigawatts of energy, which gives it the largest nuclear capacity in the world....
....MUCH MORE
The "set it and forget it" stocks are in the headline, Cameco among the miners and GE Vernova among the nuke reactor manufacturers.
However, as is so often the case the speculative lottery tickets are seeing a lot of enthusiasm for their shares. The problem with them as investments are 1) a lack of stuff like sales/earnings/cash flow and 2) our conviction that we will see at least one and possibly three bear markets before they have products.
And in bear markets it is the companies lacking in sales/earnings/cash flow that get hit hardest; as investors begin to question whether they may have made a big mistake.