Hedge fund manager Ken Griffin is a Wall Street legend. And now he’s getting outspoken about a new opportunity: nuclear energy.
What’s happening:
- Citadel founder Ken Griffin recently spoke out publicly about the need for North America to put more capital into nuclear energy
- Ken Griffin has been long outspoken about the need for North America to become leaders in electric vehicles, solar and clean energy
What they’re saying:
- “China is one of the few countries making a huge investment in nuclear again. We desperately need nuclear power in the West.” said Ken Griffin at the Bloomberg New Economy Forum in Singapore
Why it matters:
- China and other global governments have recently been making an enormous push towards accelerating their nuclear energy infrastructure
- Hedge funds have also been starting to pile into uranium explorers and developers with the price of physical uranium soaring
Going deeper:
- With a growing need to source more uranium due to the rapid increase in new nuclear power projects, there has been a renewed interest in areas known for historically rich deposits of uranium such as the Athabasca Basin in Northern Canada
By the numbers:
- The price of physical uranium is up approximately +45% since the beginning of the year
- This represents the highest price for uranium in more than 15 years
- China is expected to approve more than 6 new nuclear power plants per year moving forward
