Cameco Goes Nuclear, And So Does Wall Street
A new era for nuclear power begins as Cameco, Brookfield, and the U.S. government strike an $80 billion deal to build next-generation Westinghouse reactors, sending Canadian energy stocks soaring.
Editorial Team (ET)October 29, 2025
When news broke that Cameco Corp and Brookfield Asset Management had struck a landmark partnership with the U.S. government to help build nuclear reactors across the United States, the market lit up. Cameco’s stock skyrocketed more than 20 percent, closing at C$146.62 on the Toronto Stock Exchange, while Brookfield’s class A shares edged up to C$77.91. The surge reflected investor excitement over what could be one of the most consequential nuclear power deals in modern history.
This isn’t just another corporate handshake. The U.S. government’s plan involves financing and facilitating the permitting for at least US$80 billion worth of new Westinghouse nuclear reactors. That figure alone puts the deal in rarefied air, marking a turning point for both the nuclear industry and North America’s clean energy ambitions. For Cameco, the Saskatchewan-based uranium giant, the agreement is a validation of years spent betting on the nuclear renaissance.
Cameco and Brookfield jointly acquired Westinghouse in late 2023, bringing one of the most recognized names in nuclear technology back under North American control. Now, that bet is paying off. The new partnership signals that Washington is not only serious about rebuilding its nuclear capacity but also about securing domestic and allied supply chains for the reactors that will power the next century.
Cameco CEO Tim Gitzel called the agreement a game-changer. He said the commitments from the U.S. government will strengthen confidence in the long-term growth of nuclear power and fuel greater demand for both Westinghouse’s and Cameco’s technologies. It’s a sentiment that echoes through the industry, where nuclear energy is increasingly seen as indispensable for achieving net-zero goals and maintaining energy security in a geopolitically volatile world.
