Uranium and the AI Era: Why Is It Called The Next Silver?
On Monday, January 26, 2026, uranium once again became a major focus in global markets. Many analysts have started calling uranium the next silver—a strategic asset with the potential for a surge in demand and prices amid major shifts in global energy needs.
The question is simple: why has uranium become so important right now? The answer cannot be separated from one major factor—the explosive growth in energy demand in the era of Artificial Intelligence (AI).
AI Data Centers and a New Energy Crisis
The rapid development of AI, cloud computing, and machine learning has triggered a massive surge in electricity demand. AI data centers require energy supplies that are stable, uninterrupted, and reliable 24 hours a day.
- Operate 24 hours a day, 7 days a week
- Cannot tolerate interruptions
- Require reliability of up to 99.99%
Renewable energy sources such as solar and wind are environmentally friendly, but they have limitations due to their dependence on weather and time of day. This is where uranium-based nuclear energy becomes a key solution.
Advantages of Nuclear Energy for AI Data Centers
1. Stable 24/7 Power (Baseload Power)
Nuclear power plants can generate electricity continuously without being affected by weather. Nuclear capacity factors exceed 92%, far higher than:
- Natural gas: around 56%
- Wind: around 35%
- Solar: around 25%
This is why nuclear power is considered the most reliable energy source to support nonstop AI data centers.
2. Explosive Energy Demand
AI applications such as ChatGPT can require up to 10 times more energy than a standard Google search. Data center electricity demand is projected to grow by approximately 258% by 2030, potentially tripling compared to 2022 levels.
A single large-scale nuclear reactor can generate 1 GW of electricity or more, enough to support an entire massive AI data center campus.
3. Sustainability and Net Zero Targets
Major technology companies such as Google, Amazon, and Meta have strict net zero emissions targets. Nuclear energy is a clean energy source with extremely low carbon emissions, making it ideal for supporting AI expansion without reliance on fossil fuels.
In addition, Small Modular Reactor (SMR) technology enables nuclear power plants that are more flexible, scalable, and can even be built directly at data center sites.
Energy Security and Cost Stability
From a cost perspective, nuclear power offers a major advantage. Uranium fuel costs represent only a small fraction of total nuclear power plant operating expenses.
This makes nuclear-generated electricity prices far more stable than natural gas and coal, which are prone to price volatility. Cost stability is crucial for technology companies with long-term planning horizons.
Real Actions by Tech Giants
- Amazon (AWS) requires approximately 960 MW of nuclear power for its data center in Pennsylvania
- Microsoft signed a 20-year contract to purchase electricity from the Three Mile Island reactor
- Google agreed to purchase nuclear energy for multiple data center campuses
This proves that uranium is not just a concept—it has already become part of global energy strategy.
Why Is Uranium Called The Next Silver?
Entering 2026, uranium is increasingly compared to silver due to its role as a strategic industrial and investment asset.
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Critical Mineral Status
At the end of 2025, the U.S. government officially designated uranium as a critical mineral, alongside silver and copper. -
AI Energy Crisis
Tech giants are securing multi-billion-dollar nuclear contracts to support AI data centers. -
Supply Constraints
Experts predict a deficit of approximately 200 million pounds of uranium through 2040.
This situation closely mirrors silver, which experienced multi-year supply deficits before undergoing a major price surge.
URNM: A Practical Way to Invest in Uranium
- Ticker: URNM
- Name: Sprott Uranium Miners ETF
- AUM: USD 2.49 billion (≈ IDR 41 trillion)
- 1-Year Performance: +93%
- Dividend: ≈ 2.29% per year
- Availability: Can be purchased through local Indonesian brokerages
URNM provides exposure to a wide range of global uranium companies such as Cameco, Energy Fuels, Paladin Energy, Denison Mines, Deep Yellow, NexGen Energy, and the Physical Uranium Trust.
Conclusion
Uranium offers three key advantages in meeting energy needs in the AI era:
- Reliability – stable 24/7 power supply
- Sustainability – supports net zero targets
- High Energy Density & Scalability – ideal for large-scale AI data centers
With the combination of an AI-driven energy crisis, critical mineral status, and supply constraints, many analysts believe that uranium has the potential to become the next silver.
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