Why are ASX uranium stocks like Paladin Energy going gangbusters on Thursday?

Investors are piling into ASX uranium shares today. But why?

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published November 20, 2025 11:47 am AEDT

The All Ordinaries Index (ASX: XAO) is in the green today, with ASX uranium stocks, including Paladin Energy Ltd (ASX: PDN) shares, doing a lot of the heavy lifting.

In morning trade on Thursday, the All Ords is up a welcome 1%.

Here's how these leading ASX uranium stocks are tracking at this same time:

Boss Energy Ltd (ASX: BOE) shares are up 4% at $1.70
Deep Yellow Limited (ASX: DYL) shares are up 8.1% at $1.73
Paladin Energy shares are up 4.5% at $8.36
Lotus Resources Limited (ASX: LOT) shares are up 4.6% at 17.3 cents
Bannerman Energy Ltd (ASX: BMN) shares are up 5.7% at $3.18

Here's what's spurring ASX investor interest today.

Image of a fist holding two yellow lightning bolts against a red backdrop. — Image source: Getty Images

ASX uranium stocks catching US tailwinds

The Aussie uranium miners are catching tailwinds on two fronts today. And both are blowing out of the United States.

First, the US Department of Energy announced that it will loan US$1 billion (AU$1.5 billion) to Constellation Energy to help fund the restart of the Three Mile Island nuclear power plant. That site was home to the worst nuclear accident in the US in 1979 when one of the units suffered a partial meltdown.

In welcome news for ASX uranium stocks like Paladin Energy, however, US President Donald Trump is an adamant supporter of nuclear energy and encourages its use to help power the rapid growth of AI data centres.

Microsoft Corp (NASDAQ: MSFT) has contracted the Three Mile Island nuclear facility to power its own data centre expansions. The plant is scheduled to recommence operations in 2027.

Commenting on what he labelled the "American nuclear renaissance", US Energy Secretary Chris Wright said (quoted by Newsweek):

Constellation's restart of a nuclear power plant in Pennsylvania will provide affordable, reliable, and secure energy to Americans across the Mid-Atlantic region. It will also help ensure America has the energy it needs to grow its domestic manufacturing base and win the AI race.

What other US nuclear news is fuelling investor optimism?

ASX uranium stocks, including Boss Energy, Paladin Energy, and Deep Yellow, are also getting a boost from news that the US intends to buy up to 10 new large-scale nuclear reactors.

In an interesting twist, Bloomberg reports the reactors may be paid for with part of Japan's US$550 billion pledge to fund US projects.

Energy Department chief of staff Carl Coe noted, "The role of having the government involved in private markets is sacrosanct — you just don't do it. But this is a national emergency."

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