ASP Isotopes is an asymmetric bet on HALEU, the enriched uranium fuel advanced reactors need and the West mostly buys from Russia. Its aerodynamic and laser enrichment processes aim for lower cost and faster builds than centrifuges, and TerraPower signed a 10-year deal for up to 150 tons from 2028. The platform also targets Silicon-28, medical isotopes and lithium. Q1 revenue rose 345% to $4.18M, with $290M of cash and investments; HALEU is a Q4 2026 binary, and Centrus is the safer pick. x.com  … Show more

Solstice Advanced Materials hides a mispriced uranium conversion monopoly. It owns Metropolis Works, the only US plant, with 20% of world UF6 supply. Old $20/kgU contracts roll off through 2028 versus $64 spot; almost all of that reset hits EBIT. Buried in specialty materials, it trades near 7.5x EBITDA versus 60x for Centrus and 70x for Cameco. Conversion alone could be worth $15B+ by 2028: $150 a share at 21x, $325-370 at peer multiples. Base case: $110-135 by end-2026, $155-190 by end-2027. … Show more

Centrus Energy controls the real chokepoint in the nuclear trade, HALEU fuel, which next-generation reactors need and almost no one produces domestically. Its new $900 million fixed-price Department of Energy contract, up to $1.07B with options, to expand domestic HALEU production matters more than uranium spot prices. Per @EmmanuelInvest, Centrus plans to move its HALEU cascade to commercial operation, targeting 12 metric tons a year, supporting a $2.4B LEU backlog. x.com 

Oklo is a generational bet that could become a $200-500 billion company in 10 years if it executes modular nuclear at scale, though meaningful reactor revenue won't come until 2028-2030. Its $2.5 billion of cash covers 25-plus years of runway, the NRC accepted its design criteria in 15 days, NVIDIA is helping validate fuel, Atomic Alchemy's license enables isotope revenue from late 2026, and Meta's 1.2 GW campus and a potential Centrus HALEU venture secure customer and fuel. x.com 

ASP Isotopes is the under-followed pure play on Western HALEU, the fuel next-gen reactors need and that Russia effectively supplies alone. It enriches uranium with lasers rather than centrifuge halls and has fuel-supply MOUs with advanced-reactor developers, while peer Centrus trades several times richer. At $5.55, down 62% from its high, it could re-rate toward the $10s if HALEU contracts convert and enrichment scales. The tech is pre-commercial and it burns cash, so a slip could mean $4. x.com  … Show more

Centrus is building the West's replacement HALEU supply, since none exists at commercial scale and the Prohibiting Russian Uranium Imports Act cut off the old source in August 2024. It produces HALEU in Piketon, Ohio, and DOE's $900M contract, up to $1.07B with options, funds 12 tonnes a year with new cascades around 2029. It has $474M of TTM revenue, 36x forward earnings and net cash, though the build burns money. The risk is SMRs slipping and Piketon scaling before binding orders. x.com 

Oklo is a high-conviction play because advanced nuclear is the answer to the AI energy crisis and the company is executing. It reported its first revenue, $1.2M, in Q2 2026, agreed with Meta to develop a 1.2 GW clean-energy campus in Ohio for AI data centers, and signed a letter of intent with Centrus Energy for domestic HALEU fuel for up to five Aurora reactors. The chart shows a higher low after a dip to $36.61, and options gamma clusters at the $50 strike. x.com  x.com 

Oklo's Aurora reactor could turn AI's power bottleneck into a repeatable commercial business if Aurora-INL starts on schedule and later units become cheaper to build. Groves reached first criticality, but its isotope reactor does not prove Aurora's economics. Fuel supply, capital needs and dilution remain major hurdles; a tenfold gain would require a large operating fleet and billions in sustainable revenue and cash flow. x.com 

Centrus Energy benefits from nuclear's role as the only carbon-free baseload source that can meet AI's power needs, as the only US-owned company licensed to enrich uranium at commercial scale. It raised 2026 revenue guidance to $450-500 million, holds a $3.9 billion backlog through 2040, and won a $900 million DOE task order for commercial-scale HALEU, the fuel next-generation reactors need but almost no one can make. Its Oak Ridge expansion is advancing with $560 million committed. x.com 

Cameco is the most interesting pure-play uranium producer thanks to good cost-curve positioning and a history of surviving pricing downturns. It also has exposure to conversion and to enrichment through Global Laser Enrichment, plus the optionality of a Westinghouse IPO. A post the author replies to calls Cameco the best company in the space on assets and management, while noting that Global Laser Enrichment is unproven and valuation is the only knock. x.com  x.com