Snow, sleet, and freezing rain are expected to cover most of Virginia on Tuesday, with slick roads and power outages likely to develop.

UBS has downgraded NuScale Power's stock to 'Sell' from 'Neutral' and slashed its price target to $6 from $10, implying a potential 40% downside from the stock's then-current level. The downgrade reflects concerns about NuScale's ability to transition from regulatory approval to commercial operation of its small modular reactor (SMR) technology. NuScale has received regulatory approval for its US460 standard plant design from the U.S. Nuclear Regulatory Commission (NRC) in May 2025, making it the first SMR design to achieve such clearance. However, UBS points to NuScale's financial challenges, including a cumulative deficit of $824.4 million as of June 30, 2026, and significant cash burn of $372.9 million during the first six months of 2026 compared to $56.1 million in the same period of 2025. The company has raised substantial capital through stock sales, including $1 billion from selling 89.7 million Class A shares in the first half of 2026, but UBS remains skeptical about NuScale's timeline for commercial deployment. Competitors are moving toward construction, while NuScale's expected build time exceeds five years with no concrete client commitments. UBS forecasts only one NuScale project breaking ground in 2028 and projects a cumulative cash burn of $700 million from 2026 through 2028. The U.S. Department of Energy has projected that the U.S. may need up to 200 gigawatts of new nuclear capacity by 2050 to meet rising energy demand, creating a significant market opportunity for SMR developers. However, the DOE also warns that delays in deployment could increase capital needs by up to 50%. NuScale has secured a significant milestone with shareholder approval for the Doicești project in Romania, but UBS emphasizes that making investment decisions and actually operating a nuclear power plant are fundamentally different achievements. The company's financial position remains strong with $766.5 million in cash and $1.89 billion in total liquidity, but the path to commercialization remains uncertain. The downgrade highlights the broader challenges facing the small modular reactor industry in translating regulatory progress into operational reality.

Portland, Oregon, USA – May 30, 2025 – NuScale Power Corp. has achieved a historic milestone with the U.S. Nuclear Regulatory Commission (NRC) approving its second small modular reactor (SMR) design, the 77-megawatt US460, on May 29, 2025. This follows the 2023 certification of NuScale’s 50-megawatt design, making the company the only one with NRC approval for SMRs in the U.S. The US460, featuring six 77-MWe modules for a total of 462 megawatts, is designed for deployment by the end of the decade, with the first module expected to be operational by 2029 at Idaho National Laboratory as part of the Carbon Free Power Project with Utah Associated Municipal Power Systems (UAMPS).