Meh.
From Investopedia, July 1:
- GE Vernova was the S&P 500's second-biggest decliner Tuesday afternoon.
- Nuclear-power forms Constellation and Vistra were also seeing substantial declines.
- Shares of all three companies are still up significantly over the past 12 months as AI has driven up demand for energy.
GE Vernova (GEV) was the second-worst-performing stock in the S&P 500 Tuesday afternoon, eating into the company's strong 2025 gains.
The energy-industry products and services company's shares were recently down about 7%, while nuclear energy providers Constellation (CEG) and Vistra (VST) fell 5% apiece. Fellow nuclear firm Oklo (OKLO), which is not part of the S&P 500, shed more than 7%.
The major U.S. indexes were in retreat Tuesday. Read Investopedia's full coverage of today's trading here.
Today's moves run counter to the trend seen in recent months. GE Vernova stock has nearly tripled over the past 12 months as the rise of artificial intelligence has driven up demand for energy; its shares are up roughly 50% this year. Constellation shares have more than doubled over the past 12 months, while Vistra is up more than 50%....
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From the company, July 1:
GE Vernova Hitachi Nuclear Energy and Fortum sign early works agreement to advance potential deployment of BWRX-300 small modular reactor
HELSINKI, Finland (July 1, 2025) – GE Vernova Hitachi Nuclear Energy (GVH) and Fortum have entered into an early works agreement to advance potential deployment of the BWRX-300 small modular reactor (SMR) in Finland and Sweden.
Fortum completed a new nuclear feasibility study in March and announced that it had selected the BWRX-300 as one of the technologies it is considering for potential deployment in both nations.
“After diligently evaluating several aspects of SMR technologies over the past two years Fortum concluded that the BWRX-300 is a technology for potential deployment in Finland and Sweden,” said Nicole Holmes, Chief Commercial Officer, GVH. “We have a long history supporting the nuclear industry in the Nordics and we look forward to working with Fortum as it continues to develop its capabilities for new nuclear.”
Through the early works agreement GVH and Fortum will work on pre-licensing and engineering activities for site adaption in Finland and Sweden with potential BWRX-300 deployment in the second half of the 2030s.
The 300 MW BWRX-300, a 10th generation design, builds on decades of real-world boiling water reactor operating experience and innovation, using a proven delivery model and leveraging GVH’s experience with cross-border regulatory collaboration.
Momentum continues to build around the global deployment of the BWRX-300. In May, the Province of Ontario and Ontario Power Generation (OPG) announced approval to proceed with construction of the first BWRX-300 at OPG’s Darlington site near Toronto. A total of four BWRX-300s are planned for the site with construction of the first unit expected to be complete by the end of the decade.
Also in May, Tennessee Valley Authority (TVA) announced that it has submitted an application to the U.S. Nuclear Regulatory Commission to construct the first BWRX-300 in the U.S., at the utility’s Clinch River site in Oak Ridge, Tennessee. These developments support GVH’s leadership position in the SMR sector. Fortum is now poised to benefit from this depth of experience and expertise....
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At the close the stock was down $23.15 (-4.37%) at $506.00, coming back from a $46.95 decline, at which point yours truly was wondering if the newest small modular reactor had been nicknamed "The Chernobyl".
Or something.
