Nuclear theme.

Nuclear power generates roughly 10% of global electricity from 440 operating reactors. Another 50+ reactors are under construction globally, primarily in China, India, and Eastern Europe. AI data center demand has become a new source of utility interest in nuclear baseload. Sprott Physical Uranium Trust (SPUT) created a new retail investment vehicle for uranium in 2021, dramatically changing market dynamics. The spot market is thin; most uranium trades on long-term contracts between utilities and producers.