Wall Street's Smartest AI Trade isn't in Chips, but in Energy
The AI supercycle isn't just about chips, large language models, or data centers. It's about power. Massive, constant, and available 24/7.
A new insight is gaining traction on Wall Street. The future of AI will not be limited by computing power, but by kilowatts. And the crucial question is: Which energy source is scalable, CO₂-free, and capable of baseload? It's nuclear power.
Bill Gates, Sam Altman, Ray Dalio, and Larry Fink are already betting on nuclear power. The US Department of Energy is investing billions. SMRs (Small Modular Reactors) are being approved at an accelerated pace. Russian uranium is being banned. And for the first time since the Cold War, the US government is rebuilding its nuclear fuel chain, starting with the mine.
Nuclear is the is the trade behind the trade. The fuel of the future.
And URZ3 Energy Corp. (OTC: URZEF) is at the heart of this development.
The AI Bottleneck is Electricity
The development of artificial intelligence isn't slowing down; it's hitting the power grid limit. The bottleneck in the next phase of expansion isn't GPUs, models, or data centers, but kilowatts. The obvious answer to the baseload question is nuclear power.
By 2030, data centers in the US could consume up to 12% of the nation's electricity, up from around 3% today. The catalyst is coming from hyper-scalers like Microsoft, Meta, Amazon, and Nvidia, which have already collectively invested hundreds of billions in AI infrastructure. Voices from the tech sector are also pointing to this trend. Elon Musk recently estimated that a tenfold increase in computing power could perhaps double the "intelligence" of AI systems, which plausibly further increases their energy demands.
The base load question.
The problem is as simple as it is challenging: solar and wind power cannot provide 24/7 base load without storage. Natural gas is not emission-free. The only 24/7, scalable, and CO₂-free option that exists on an industrial scale is nuclear power.
Grid operators are already warning of rolling outages. Texas was on the verge of a widespread outage during a summer peak. In Virginia, data center projects are being paused due to a lack of grid capacity. The energy requirements of individual AI milestones are also considerable: The training of GPT-4 is estimated at 1.3 GWh - enough to power over 1,000 households for a year. Meanwhile, inference loads are growing even faster.
The political response.
The US government is taking action. Russian uranium has been banned, $3.4 billion has been released for domestic nuclear fuel, and a consortium established under the Defense Production Act is bringing together industry players along the fuel chain. More than ten advanced SMR projects are being advanced for national security purposes and, potentially, for supplying the AI compute layer.
Microreactors are being placed where the demand is colocated next to hyperscale campuses to provide modular, off-grid power. At the same time, BlackRock, Brookfield, and sovereign wealth funds are positioning themselves in nuclear infrastructure to anticipate the foreseeable AI energy shortage.
The real bet of the AI wave is not in chips, but in the fuel behind them, and URZ3 Energy Corp. (OTC: URZEF) is located here in a strategic hub.
Washington reorganizes the nuclear supply chain
The United States sources most of its uranium needs from abroad. In 2023, approximately 95% of its uranium supply was imported, with only 5% coming from domestic production. At the same time, Russian material accounted for approximately 12% of deliveries until Congress passed an import ban in 2024. Since then, Washington has been accelerating the rebuilding of a domestic fuel chain from mine to finished fuel.
Image Source: Bloomberg chart from the article “US Looks to Boost Uranium Reserves for Nuclear Power” published on September 15, 2025.
Import ban on Russian uranium
The Prohibiting Russian Uranium Imports Act (May 13, 2024) prohibits imports of Russian natural uranium and LEU from August 2024 onward; waivers are only possible until January 1, 2028. Suppliers are currently prioritizing contracts and diversifying to secure supplies in a timely manner.
The Department of Energy (DOE) is awarding contracts totaling up to US$3.4 billion under a ten-year LEU procurement program to build domestic enrichment capacity. At the same time, the Russia ban freed up US$2.72 billion for expanding the US fuel chain. In addition, the DOE is providing initial quantities of high-assay LEU for advanced reactors through the HALEU Availability Program.
The Department of Defense is pushing forward with Project Pele, a portable microreactor (1-5 MW) at the Idaho National Laboratory, which will begin testing in the mid-to-late decade and is designed for off-grid, resilient power supply. Civilian companies, including TerraPower, are continuing construction with the sodium demonstrator in Wyoming.
Production bottleneck - few locations, < 5% coverage
Although US production has recently increased, US uranium only met 5% of demand in 2023; the remainder came from Canada, Australia, Kazakhstan, Russia, and Uzbekistan. At the beginning of 2025, production was taking place at only a handful of sites (including Wyoming, Texas, Nebraska, and Utah), a clear indication of the backlog along the chain from mining, conversion, enrichment, and fuel assembly production.
In August 2025, the DOE announced a nuclear fuel chain consortium under the Defense Production Act. The voluntary agreements are intended to pool companies across the entire chain and rapidly scale capacity, including facilitation of antitrust cooperation under the program.
New executive orders and DOE programs aim to shorten/test SMR pathways and authorize fuel lines more quickly. At the same time, a pro-nuclear wave is sweeping across the US. Hundreds of legislative initiatives were introduced in 2025, ranging from incentives and SMR fast tracks to the inclusion of nuclear energy in clean energy standards.
From politics to physical security. Uranium reserves and procurement.
The United States has activated a strategic uranium reserve and has already signed initial purchase agreements to maintain US uranium as a backup. In addition, the DOE purchases LEU from US suppliers to secure supplies for the existing fleet and future advanced reactors.
The direction is clear: less dependence, more domestic capacity from ore to finished fuel. In this environment, the question arises as to what role individual uranium developers in North America can play, including URZ3 Energy (OTC: URZEF), which is already positioned.
Wyoming: Ground Zero of the US Uranium Renaissance
Wyoming's Powder River Basin hosts some of the richest uranium deposits in sandstone formations in the United States. These deposits are ideally suited for in-situ recovery (ISR), a proven process that is cost-effective and has minimal impact on the surrounding environment. This makes Wyoming one of the most important locations for the United States' future uranium supply.
Wyoming boasts decades of production experience, existing infrastructure, and proximity to both Department of Energy (DOE)-backed initiatives and large commercial nuclear programs. Rising uranium prices and new policies requiring U.S. utilities to secure domestic supply are increasingly making the state a pivotal point in nuclear fuel strategy.
The industry also shares its approval. Scott Melbye, President of the Uranium Producers of America, calls Wyoming "one of the best jurisdictions in the world" for uranium development. The state's long mining history and clear, mining-friendly regulations provide a significant location advantage.
Politically, the course has also been set. With the phasing out of Russian uranium imports by 2028 and billions in federal funding for nuclear projects, Wyoming is in the spotlight. US Senator John Barrasso sums it up:
"Wyoming has the uranium to replace Russian imports, and we are ready to use it. Our bipartisan legislation will help defund Russia's war machine, revive American uranium production, and boost investment in the U.S. fuel supply chain."
Image: Senator John Barrasso and President Donald Trump photographed together.
URZ3 Energy: Back in the Basin
Against the backdrop of the US strategy for more domestic uranium supply, URZ3 Energy (OTC: URZEF) with a clear focus. Acquiring and developing uranium projects in North America. Starting with a return to Wyoming.
The flagship Dry Fork project is located in the Powder River Basin, just 10 kilometers from the Nichols Ranch ISR mine. Nichols Ranch isn't just any neighbor. It's the project that the current URZ3 team, under the name Uranerz Energy, once discovered, permitted, built, and brought into production.
The subsequent sale to Energy Fuels in 2015 in a deal valued at $320 million made Uranerz one of the most successful US uranium developers of its time.
By securing land directly next to a proven producer, URZ3 Energy in familiar territory. The geology is known, the regulatory path is clear, and relationships with regulators, contractors, and stakeholders in Wyoming are already established.
This is not uncharted territory, but a return to a basin that the team knows inside and out.
Who is Behind URZ3 Energy?
URZ3 Energy isn't starting from scratch. The company is managed and advised by the same professionals who have already created significant value at Uranerz Energy and URZ Energy and who are among the most experienced minds in the US uranium industry.
Key people and their successes
Paul Goranson, P.E.
Former President/COO of Uranerz Energy, responsible for the design, construction, and operation of the Nichols Ranch ISR mine. Later, COO of Energy Fuels and CEO of enCore Energy. Goranson is considered one of the most experienced ISR managers in the United States. He has also held leading industry positions, including President of the Uranium Producers of America, President of the Wyoming Mining Association, and leadership roles with the Nuclear Energy Institute and the National Mining Association. Previously, he served as Vice President at Cameco Resources and Mestena Uranium, where he led ISR facilities such as Alta Mesa to annual production exceeding 1 million pounds.
Glenn Catchpole, MS, P.Eng.
Former CEO of Uranerz and URZ Energy, with over 40 years of ISR experience, including leading the Cameco Inkai project in Kazakhstan.
Dr. Gerhard Kirchner, P.Eng.
Veteran uranium exploration expert, known for the discovery of the Key Lake deposit in Canada, once the largest uranium mine in the world.
Arnold Dyck, CPA
Long-time CFO of Uranerz, with extensive expertise in financing and uranium projects.
Paul Saxton, B.Sc., MBA, P.Eng.
Mining engineer and manager with decades of experience in mining construction and corporate management across various commodities.
Todd Hilditch & Sandra MacKay
Senior Directors with deep industry knowledge, both instrumental in the acquisition of URZ Energy by AZZ Energy and its subsequent integration into enCore Energy.
Mark Kolebaba
Geologist with significant discoveries, including the Hope Bay gold deposit and the £20 million Amer Lake uranium project; previous leadership roles at BHP Billiton, Cominco, and Uranium North.
Darcy Higgs, B.Com.
Over 40 years of capital markets experience, played a key role in the $75 million financing for the Pretium IPO and was an early investor in Uranerz Energy and URZ Energy.
Review of successes and the next step
This team has already written two great success stories:
Uranerz Energy
Discovered, permitted, constructed, and operated the Nichols Ranch ISR mine before Uranerz Energy merged with Energy Fuels in a deal valued at $320M USD in 2015.URZ Energy
Later integrated into enCore Energy in a $180 million merger. Today, it is a producer with a market capitalization of approximately $500 million.
Added to this are world-class discoveries such as Key Lake, ISR operations with over 1 million pounds of annual production, and leadership roles in US uranium policy at the federal and state levels.
With URZ3 Energy, the team is now launching its third act, with a current market capitalization of only about $7 million.
And with members who can actively shape political processes in Wyoming, URZ3 Energy clearly signals that it not only wants to develop projects but also help shape the framework for the US uranium industry.
Why Timing Counts as an Opportunity
The uranium market is in the early stages of a bull cycle. Institutional capital and billionaires are entering, and prices are rising. At the same time, the U.S. government is determined to replace Russian uranium with domestic production, and Wyoming is at the forefront of this development.
URZ3 Energy is strategically positioned in this environment. The company offers key advantages:
A project in proven ISR territory, directly adjacent to a mine that the team has already developed and sold.
A management and consulting team with unparalleled experience in uranium mining in Wyoming.
The addition of Paul Goranson, whose ISR expertise and leadership roles in national industry associations significantly increase URZ3's credibility and implementation power.
A very low current valuation that offers private investors early leverage on rising uranium prices and future project milestones.
The investment thesis is clear – URZ3 Energy is essentially the same team, the same basin, the same strategy, but in a stronger uranium market, flanked by political tailwind and institutional support.
Image: The Nichols Ranch ISR mine and processing facility in Wyoming, now operated by Energy Fuels Inc. https://www.energyfuels.com/nichols-ranch-isr-mine-plant/
6 reasons why URZ3 Energy (OTC: URZEF) now deserves your attention
1. Energy demand is exploding due to AI
AI infrastructure is driving a power crisis. Data centers could consume up to 25% of US electricity consumption by 2030, up from around 3% today. Nuclear power is the only scalable, carbon-free solution capable of providing baseload.
2. The US government is investing billions in nuclear power
From banning Russian uranium imports to funding SMRs, enrichment, and mine restarts, Washington is putting all its eggs in one basket. Over $6 billion in direct federal funding is transforming the US nuclear landscape. Domestic supply is now a matter of national security.
3. Billionaires and smart money have long been involved
Bill Gates (TerraPower), Sam Altman (Oklo), Ray Dalio (physical uranium), and BlackRock are already involved. The world's smartest capital is investing early and massively in nuclear energy.
4. This project is strategically located in Wyoming
Wyoming is not only rich in uranium - it's also where the first U.S. SMR is being built. URZ3 Energy's project is located in a historically producing district, with existing infrastructure, political support, and direct proximity to America's nuclear future.
5. Billions in value and a proven team
The same team has already built and sold two uranium companies, with billion-dollar exits to Energy Fuels and enCore Energy. With projects like Nichols Ranch, they've proven they can turn exploration into billion-dollar deals. Now they're embarking on a third venture with URZ3 Energy.
6. Uranium stocks are already running hot
UEC: +200%
NextGen Energy: +1,100% since discovery
Cameco Corp.: +700% since 2020
The sector is breaking out and URZ3 Energy (OTC: URZEF) could be the next candidate.
Why URZ3 Energy could win the nuclear power race
The global AI expansion is progressing faster than even optimists expected, and the bottleneck is energy. With massive government investments, exploding electricity demand from data centers, and an impending import ban on Russian uranium, the US nuclear energy sector is being put into overdrive.
From SMRs and defense systems to enriched fuel reserves and clean baseload energy, nuclear power is no longer optional but strategically essential.
URZ3 Energy (OTC: $URZEF) holds highly strategic uranium assets in Wyoming, the same state where Bill Gates' TerraPower is building the first US SMR. This isn't theory, but real-time implementation.
With proven leadership, a clear structure, perfect timing, and a location in one of the leading uranium regions in the USA, URZ3 Energy is built for this moment.
This is exactly the kind of situation that smart investors are betting on before it's too late.
Sources:
(1) "UK and US sign major new nuclear energy deal to boost jobs and energy security - UK Government“ - https://www.gov.uk/government/news/golden-age-of-nuclear-delivers-uk-us-deal-on-energy-security
(2) "US looks to boost strategic uranium reserve for nuclear power - Bloomberg News“ -https://www.bloomberg.com/news/articles/2025-09-15/us-looks-to-boost-strategic-uranium-reserve-for-nuclear-power
(3) "White House unveils America’s AI Action Plan to secure global technological dominance – US Government“ - https://www.whitehouse.gov/wp-content/uploads/2025/07/Americas-AI-Action-Plan.pdf
(4) https://www.whitehouse.gov/wp-content/uploads/2025/07/Americas-AI-Action-Plan.pdf
(5) https://www.wri.org/insights/us-data-centers-electricity-demand
(10) https://www.reuters.com/world/us/us-senate-approves-bill-ban-russian-uranium-imports-2024-05-01/
(11) https://en.wikipedia.org/wiki/Prohibiting_Russian_Uranium_Imports_Act