Small modular reactors · ENTRA1 & TVA 6GW program
NuScale Power
A US SMR firm with an NRC-certified module targeting utility and datacenter power. Via its commercialization partner ENTRA1 it pursues up to 6GW with the TVA (the largest SMR program in US history) and is in talks with datacenter operators. $1.3B liquidity at end-2025. With Oklo, an SMR axis.
SMR Updated Sep 11, 2026 5 AI consumers· 3 recurring
Per the valuechain.wiki graph, NuScale Power is directly linked to 3 companies (2 supply, 0 revenue, 1 investment relationships) and reaches 4 companies within two hops; the links are backed by 10 dated sources, 2 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · ENTRA1/TVA up to 6GW
- Customer concentration · Datacenter/utility SMR; pre-commercial.
- Segments · SMR module (NRC-certified) · Power services
Revenue from
- Utilities · data centers · TVA (SMR) High confidence
SMR power to TVA, utilities and datacenters (up to 6GW via ENTRA1).Confirms EN NuScale Power Published Oct 29, 2025: NuScale Supports ENTRA1's $25B Agreement (TVA up to 6 GW)Confirms EN SEC EDGAR (NuScale 8-K) Published May 29, 2025: NuScale 8-K — NRC Standard Design Approval (77 MWe); ENTRA1 exclusivity - Government · overseas (SMR · FEED) Medium confidence
US pilot program and overseas FEED (Romania).
Pays to
- Doosan Enerbility (forging · modules) High confidence
Doosan Enerbility is NuScale's main module/forging manufacturer (reactor modules, pressure vessels, large forgings) and an equity investor (~$104M).Confirms KO Energy Economy Published Sep 3, 2025: Doosan Enerbility named manufacturing partner for NuScale SMR main equipmentConfirms KO Newswire Published Apr 26, 2022: Doosan Heavy Industries to manufacture upper forgings for NuScale SMR reactor - Quanta Services Medium confidence
Contracts SMR-plant electrical construction to Quanta and others. - Forging · EPC · R&D (undisclosed) Low confidence
Module forging, EPC (Fluor) and R&D.
Investors
- Nucor Corporation Medium confidence· Amount $15M · PIPE commitment announced 2022-04-06 · PIPE investment commitment for the NuScale-Spring Valley business combination
NuScale Power received a $15 million commitment from Nucor to its pre-listing PIPE and later agreed with Nucor to study supplying Nucor's electric-arc furnace mills with power from its small modular reactors.Confirms KO Korea Energy Economics Institute Published May 26, 2023: World Nuclear Power Market Insight: North America BriefsConfirms EN NuScale Power Published Apr 6, 2022: NuScale Power and Spring Valley Acquisition Corp. Announce $15 Million PIPE Investment from Nucor
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| NuScale Power | node | · | · | -67.9 | +445 | -21 | -31.5 |
| Nucor Corporation | benef1 | +118.4 | +17.4 | +33.8 | -32 | +42 | +61 |
| Quanta Services | benef1 | +59.5 | +24.6 | +51.7 | +46.6 | +33.7 | +48 |
| Doosan Enerbility | benef1 | +57 | -5.6 | -7.5 | +54.8 | +279.1 | -12.6 |
| Doosan Bobcat | benef2 | +25.7 | -2.3 | +48.5 | -1 | +25.1 | +9 |
YTD as of 2026-09-04 · source: Yahoo Finance
NuScale Power operates across NYSE, SMR small modular reactor, ENTRA1/TVA 6GW. It remained weak at -21% in 2025 and -31.5% in 2026. The supply side (avg +17.7%) leads the stock (-31.5%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is Quanta Services (+48%) and the furthest behind is Doosan Enerbility (-12.6%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. With Oklo, an SMR axis.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 1 · Hold 1 · Sell 1 · Avg. target $13 · Price $9.7 (09-04) · Upside +34%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Citigroup | Sell | $7 | May 11, 2026 | Report ↗ |
| B. Riley Securities | Buy | $19 | Apr 24, 2026 | Report ↗ |
| HSBC | Hold | $13 | Apr 23, 2026 | Report ↗ |
Wall Street is split: Citi sticks to Sell ($7) on the lack of firm orders and dilution risk, while B. Riley stays Buy ($19) and HSBC sits at Hold ($13).