Global nuclear investment exceeded $80 billion in 2025, according to the International Energy Agency (IEA), nearly double the 2018 level. Nuclear generation also reached a record 2,900 terawatt-hours last year, and forecasts show it continuing to grow through 2030.
The outlook for 2026 is one of recovery. Industry estimates suggest about 15 reactors are due to connect to the grid this year, adding nearly 12 gigawatts of new capacity. 2025 had been a weak year, with only two reactors connected and net capacity down by roughly 1.1 gigawatts. BloombergNEF expects global capacity to resume growing. There are currently 417 reactors operating worldwide and another 77 under construction, with more than 70 gigawatts of new capacity on site, one of the highest levels in the past thirty years.
The push comes from electricity demand. The IEA projects average annual growth of 3.6% for 2026-2030, about 50% faster than in the previous decade. Data centers and artificial intelligence are weighing ever more heavily: the Nuclear Energy Institute expects data center consumption to double globally by 2030 and triple in the United States. Large technology companies are seeking stable, emissions-free power and locking it in through long-term purchase agreements. One example is the 20-year deal between Google and Constellation Energy, the largest U.S. nuclear operator.
China remains the most active builder. It has approved 10 new units at a combined cost of about $27 billion, expanding five existing plants using entirely domestic technology. In the United States, by contrast, growth is coming from restarts, power uprates and license renewals: according to an NEI survey, utilities are pursuing renewals at 20 plants and uprates at 29 units. BloombergNEF estimates a net increase of 7%, or about 7 gigawatts, by the end of the decade. SMRs, such as NuScale’s 77-megawatt-electric modules, round out the picture for those seeking capacity on shorter timelines.
The industry association’s World Nuclear Outlook Report 2026 calls for treating nuclear as a strategic national asset, with the involvement of public, private and multilateral financial institutions. It also calls for more efficient licensing procedures and predictable revenue models in competitive markets. If these three elements take hold, growth in the coming years could rest on stable financing rather than relying solely on demand spikes tied to artificial intelligence.
