The nuclear theme is on fire, with Brookfield and Cameco announcing a strategic partnership with the U.S. government to accelerate an $80B+ build out of Westinghouse reactors.

With the two companies collectively owning Westinghouse (roughly 50/50), the news represents a huge financial tailwind…

… but for America, the partnership is a matter of national security - with an aging nuclear fleet that needs to be rebuilt…

… leveraging in-country technology, considering the volatile geopolitical backdrop. That’s positive for construction names like Aecon (ARE), who partner with Westinghouse…

… and it also improves the fundamental case for uranium miners, who aren’t meeting current demand as is…

… and will need to ramp up production to keep pace with future nuclear capacity. As we’ve said before, Cameco is the cleanest way to play nuclear…

… while Brookfield is showing up all over AI infrastructure, with a $5B partnership with Bloom Energy announced two weeks ago.