Jensen Huang Says AI Needs Nuclear Power: Here Are 3 ASX Uranium Stocks to Buy

ASX uranium stocks surged after Nvidia CEO Jensen Huang appeared on The Joe Rogan Experience and made a bold prediction about AI’s future. He declared that nuclear power is “the smartest way” to solve AI’s growing energy crisis. He also predicted that tech giants will soon build their own small nuclear reactors because the existing power grid simply can’t handle AI’s demands. The reaction on the ASX was immediate.  Lotus Resources (ASX: LOT) soared 12.1 per cent, Elevate Uranium (ASX: EL8) climbed 10.1 per cent, and Bannerman Energy (ASX: BMN) added 5.6 per cent. When Jensen Huang speaks, markets move.

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Why This Matters for Uranium Investors

When Nvidia CEO Jensen Huang speaks, markets pay attention. Nvidia is the company powering the AI boom, and its CEO just said nuclear energy is essential for AI to keep growing.

Huang explained that AI data centres need enormous amounts of electricity. He called them “gigawatt factories” and said plugging them into the existing power grid would cause instability. Instead, he expects tech companies to build their own small nuclear reactors on-site. “I think in the next six or seven years, you’re going to see a whole bunch of small nuclear reactors,” Huang said. Rogan called it “the smartest way to do it.”

For uranium investors, this is big. It echoes what uranium supporters have argued all along: the AI boom will need nuclear power. With uranium prices already back near US$70–83 per pound, Huang’s endorsement could be the spark for the next move higher.

Three ASX Uranium Stocks Worth Watching

Lotus Resources (ASX: LOT) was the standout performer, surging 12.1 per cent. The company is restarting its Kayelekera uranium mine in Malawi, which previously produced over 10 million pounds of uranium before closing in 2014. With low restart costs of around A$140 million and production expected in early 2026, Lotus offers near-term exposure to rising uranium demand at a relatively low entry price.

Bannerman Energy (ASX: BMN) gained 5.6 per cent. Its Etango project in Namibia is construction-ready, targeting around 3.5 million pounds of uranium per year once operational. The company has AU$68.8 million in cash and no debt, giving it a strong financial foundation as it works towards a final investment decision in 2025.

Elevate Uranium (ASX: EL8) jumped 10.1 per cent. The company is building a portfolio of uranium projects across Africa and Australia. Recently, it sold off non-core assets to sharpen its focus on the most promising opportunities. For investors who want broader exposure to the sector, Elevate offers a diversified play on rising uranium demand.

The Investor’s Takeaway

Jensen Huang’s comments add real credibility to the uranium story. This isn’t speculation or hype. The CEO of the world’s most valuable company just told millions of podcast listeners that AI needs nuclear power to grow.

For investors, the timing looks interesting. Uranium supply remains tight, new mines take years to develop, and demand from AI data centres is just getting started. That said, uranium stocks can be volatile, and not every project will succeed. Among near‑term plays, Lotus and Bannerman stand out with advanced projects and clear paths to production.

If Huang is right and tech giants start building nuclear reactors, uranium producers could be among the biggest winners in the years ahead.