Dec 4 (Reuters) - Canada-based uranium miner NexGen

Energy ( NXE ) said on Wednesday it has penned agreements with

multiple U.S. utility companies to supply 5 million pounds of

the nuclear fuel ingredient.

WHY ITS IMPORTANT

Nuclear power has seen a

revival

in the recent years fueled by the rapid development of

artificial intelligence (AI) and power-hungry data centers even

as major companies have made commitments to achieve carbon

neutrality within the next decade.

NexGen Energy ( NXE ) is also in discussions with additional

U.S., European, and Asian utilities for similar contracts.

CONTEXT

The U.S. Energy Information Administration (EIA) estimates

record-high power consumption in 2024 and 2025, fueled by

increasing demand from AI use, data-center expansion, and

residential and commercial consumers.

KEY QUOTE

"Energy demand from reliable sources is increasing by the

week with the need to expand existing nuclear energy

infrastructure and the construction of power consuming data

centres at a time the security of uranium supply is under

significant technical and sovereign risk" said Leigh Curyer,

Chief Executive Officer of NexGen Energy ( NXE ).

SHARE REACTION

U.S.-listed shares of Nexgen Energy ( NXE ) rose 2.2% to $8.3 in

premarket trading.