🚩Russia Halts Uranium Exports to US

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This is what we got for you this week:

• 🚩Russia Halts Uranium Exports to US

• 😍6 Countries Pledge to Triple Nuclear at COP29

• 🚀US Releases 200 GW National Nuclear Target

• 🤖Nvidia to build AI inside Nuclear Plant

🚩Russia Halts Uranium Exports to US

Russia has imposed temporary restrictions on enriched uranium exports to the U.S. as a countermeasure to U.S. sanctions.

While Russia will continue to honor its uranium supply contracts with other nations, the U.S. faces significant challenges. Russia supplies about 20% of the enriched uranium used in U.S. nuclear power plants and accounts for 40% of global enrichment capacity.

Russia intends to redirect uranium supplies to "friendly" nations, strengthening partnerships with countries hosting Rosatom-built reactors.

Experts predict these restrictions will drive up uranium prices and Russian officials believe the restrictions will be particularly painful for the U.S., potentially forcing it to overpay for urgent imports or to establish new long-term contracts.

😍6 Countries Pledge to Triple Nuclear at COP29

At COP29 in Baku, six additional countries—El Salvador, Kazakhstan, Kenya, Kosovo, Nigeria, and Turkey—joined the declaration to triple global nuclear energy capacity by 2050, increasing the total to 31 signatories, up from 25 at COP28 last year.

Announced by ministers and high-level officials, this expanded commitment underscores nuclear energy's vital role in achieving net-zero emissions and advancing Paris Agreement goals.

Dr. Sama Bilbao y León, Director General of the World Nuclear Association, praised the coalition as a "global coalition of the ambitious," emphasizing nuclear's potential to deliver reliable, cost-effective, and climate-resilient energy.

The declaration has also gained support from leading banks and tech companies, reflecting a growing consensus on nuclear energy's importance in bolstering energy security, stability, and global decarbonization efforts.

🚀US Releases 200 GW National Nuclear Target

The Biden-Harris Administration has unveiled its roadmap to triple U.S. nuclear power capacity by 2050, targeting an additional 200 GW through new reactor construction, plant upgrades, and reactor restarts.

Immediate goals include reaching 35 GW by 2035 and enhancing the nuclear sector’s production capacity to 15 GW per year by 2040.

The roadmap emphasizes safe, responsible expansion to boost energy security, create high-paying jobs, and strengthen U.S. leadership in nuclear technology. It outlines steps for building large and small modular reactors, streamlining regulatory processes, and addressing the legacy impacts of past nuclear programs on communities.

This bipartisan-backed strategy positions the U.S. to reclaim global leadership in nuclear energy, advancing critical climate and economic objectives.

🐦Elon Tweet of the Week

🤖Nvidia to build AI inside Nuclear Plant

PG&E is partnering with Nvidia to deploy advanced AI hardware at Diablo Canyon Power Plant, California's last operational nuclear facility.

For security reasons, nuclear plants are disconnected from external networks, limiting the use of powerful AI to manage the vast data generated by the plant’s reactors and systems.

To overcome this, Nvidia, in collaboration with nuclear AI company Atomic Canyon, will integrate its Hopper GPU-powered Neutron Enterprise system directly within the plant.

This AI platform is designed to enhance operational efficiency by providing rapid access to critical information and streamlining operations. It aims to deliver significant cost savings, bolster safety measures, and ensure the continued delivery of reliable, clean energy.

⚛️Nuclear Nuggets

Vietnam wants to restart nuclear power plans to meet its rapidly expanding energy needs, the government has said, after it scrapped two multibillion-dollar projects in 2016.

Orano has started construction of its Advanced Thorium Extraction Facility in western France. This facility is the world's first industrial plant dedicated to the production of thorium-228.

Officials at the South Ukraine Nuclear Power Plant have confirmed construction on 2 new nuclear reactors is underway. Ukraine is also preparing to resume the construction of the previously halted Chyhyryn plant in Cherkasy Oblast.

The Romanian government signed a contract with AtkinsRéalis at COP29 to build two new CANDU nuclear reactors.

😂Meme of the Week

💪Review of the Week

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research