Reactors & SMRs

The small modular reactor pipeline and the nuclear-for-AI offtake deals reshaping forward uranium demand.

Tracked projects

Under construction

In development

Pipeline capacity

Hyperscaler-backed

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ProjectDeveloperMWeStatusOfftakerTargetLatest milestone

Curated from public filings, company PRs, DOE/NRC announcements and the WNA. A tracker — figures are point-in-time.

Real

Forward U₃O₈ Demand Model

Bottom-up demand built from the reactor fleet, the construction pipeline and SMR projects — vs. a reference supply baseline.

Modeled

demand

2030 demand

2035 demand

2035 deficit

Building demand model…

Methodology: 1 GWe ≈ 170 tU/yr (~85% capacity factor); 1 tU ≈ 0.0026 Mlbs U₃O₈. Sources: WNA / IAEA PRIS fleet + the curated SMR pipeline. The forward curve is a model, not a quote.

View the global reactor fleet & nuclear supply chain