Nvidia Not the Only Player: Nuclear Energy Firms Power AI Infrastructure

While Nvidia dominates AI headlines, there are other companies quietly powering artificial intelligence infrastructure. Oklo (NYSE: OKLO), NuScale Power (NYSE: SMR), and GE Vernova (NYSE: GEV) are three firms positioned at the intersection of nuclear energy and AI infrastructure power.

Oklo has generated attention for its small modular reactor technology, securing a 12-gigawatt non-binding master agreement with Switch. The company also holds an agreement with Meta Platforms that supports a 1.2-gigawatt Ohio campus, where Meta retains the ability to prepay for power and fund project development directly.

NuScale Power has made progress on regulatory and engineering fronts but its contracted backlog is thin compared to Oklo's 14 gigawatts of customer pipeline. However, NuScale's advancements are concentrated in technical and regulatory milestones rather than signed commercial agreements.

GE Vernova operates in a different commercial league, with $176.3 billion in remaining performance obligations as of the second quarter of 2026. Its Gas Power segment alone carries an equipment backlog of 116 gigawatts alongside slot reservation agreements. GE Vernova's nuclear exposure includes its BWRX-300 small modular reactor and a more established business servicing existing reactors and supplying nuclear fuel.