As artificial intelligence races forward, a new kind of “gold rush” is taking shape — not for data, chips, or algorithms, but for energy. And one unlikely metal is emerging as the key fuel behind it all: uranium.
The New Gold Rush: AI and Energy
Every economic revolution has its version of a gold rush — a moment when opportunity and hype collide. In the 1800s, it was gold miners. In the dot-com era, it was internet startups.
But the real winners were rarely the prospectors themselves — it was the ones selling the “picks and shovels.”
Today, that rush is artificial intelligence, and the new picks and shovels are the energy sources that make it all possible.
AI isn’t just transforming industries; it’s consuming massive amounts of electricity. To power the next generation of AI models, data centers, and intelligent systems, the world needs far more clean, reliable energy than the grid can currently supply.
And that’s where uranium — the raw fuel for nuclear power — comes in.
Why Uranium Matters Now
Back in 2021, when uranium was trading around $30 per pound and nuclear energy was still unpopular, Titan’s investment team saw something the market had overlooked:
- Demand was rising fast, but supply wasn’t keeping up.
- Utilities were renewing long-term contracts to secure future uranium supply.
- Nuclear power was quietly regaining favor as a clean, dependable energy source for a world shifting toward electrification.
At the same time, the two largest uranium producers — Cameco and Kazatomprom — had cut production, leaving a growing gap between global consumption (≈190 million pounds) and annual production (≈160 million pounds).
This imbalance created a clear opportunity — and Titan built a position across five uranium holdings:
Cameco (CCJ), NexGen (NXE), Denison (DNN), Uranium Energy Corp (UEC), and Sprott Uranium Miners ETF (URNM).
Today, uranium is one of Titan’s largest single themes, representing over $60 million in client capital.
How AI Supercharged the Uranium Thesis
When Titan first invested, uranium already had strong fundamentals. But the past two years have accelerated things dramatically — largely because of AI’s explosive power demands.
1. AI Needs Massive Energy
AI data centers are growing at 35% per year, while global grid capacity expands just 2–5%. This mismatch has forced Big Tech to look for alternative power sources.
That’s why:
- Microsoft joined the World Nuclear Association and signed a historic deal with Three Mile Island.
- Meta inked a 20-year nuclear power purchase agreement.
- Amazon is investing $20 billion in nuclear-powered infrastructure.
AI’s hunger for clean, constant energy is making nuclear power — and uranium — more valuable than ever.
2. Governments Are Now On Board
For decades, nuclear energy had a public image problem. That’s changing fast.
- The ADVANCE Act streamlined approvals for new reactors.
- The U.S. government announced plans to quadruple nuclear capacity.
- Even the World Bank lifted its 60-year ban on nuclear financing.
This policy shift marks the start of a new era: nuclear power is being rebranded as a key part of the clean energy transition.
3. Supply Is Still Tight
Despite higher prices, uranium production remains constrained.
Major producers have extended their output cuts through 2026, and while new mines from NexGen and Denison are nearing approval, they’re still years away from producing.
With utilities willing to pay almost any price for steady supply, long-term uranium contracts have soared — strengthening Titan’s thesis even further.
Investing in an Age of Acceleration
At Titan, we believe we’re living through an era of rapid change — where technology, energy, and capital are converging faster than ever before.
Each major leap in human progress has required a new source of power:
- The Industrial Revolution ran on coal.
- The 20th century was driven by oil.
- The digital age runs on electricity.Now, the AI era will depend on nuclear energy — and uranium is its jet fuel.
The Contrarian Opportunity
While AI stocks dominate headlines, Titan’s contrarian view is simple:
- The long-term potential of AI is still underestimated.
- The biggest winners may not be the tech giants themselves — but the energy enablers powering them.
Just as railroads fueled the Industrial Age and oil powered the automotive era, uranium may be the essential resource of the AI century.
This is more than an investment thesis — it’s a recognition that energy is destiny.
And in the new world being built by AI, uranium could be the element that makes it all possible.
