For nearly two decades, the playbook for U.S. tech investors focused almost exclusively on software scalability. However, as artificial intelligence transitions from digital experimentation to industrial implementation, the conversation has shifted toward the physical constraints of the revolution. Specifically, the massive power requirements of the next generation of data centers.
During a recent panel at Exchange, Stacey Morris, head of energy research at VettaFi, and Zeno Mercer, head of robotics and AI research at VettaFi, discussed how the convergence of AI and the next generation of nuclear power is creating a unique structural opportunity for long-term portfolios.
The Nuclear Renaissance
U.S. power demand is projected to grow at a 2% compound annual rate through 2030, with roughly half of that growth driven by AI infrastructure. Morris noted that hyperscalers like Amazon, Google, and Meta are increasingly turning to nuclear power as a reliable, emission-free solution to meet aggressive climate goals without sacrificing uptime. “Nuclear is the most reliable of those different types of energies,” Morris explained. She cited its 24/7 baseload capacity and rare bipartisan policy support as key differentiators.
From Software to Physical AI
While large language models (LLMs) captured the initial market excitement, the next major unlock involves physical AI — the integration of intelligence into robotic systems. Mercer argued that we are entering a “Cambrian explosion” for robotics. The shift from chat interfaces to autonomous agents that understand and interact with the physical world drives this evolution, he said.
“By 2030, a lot of you in this room will have a humanoid in your house,” Mercer predicted. He highlighted a future where “robotics payments” may eventually mirror the ubiquity of today’s car payments.
Investing in the Ecosystem
For advisors, the opportunity set extends into the broader nuclear value chain and autonomous logistics. Hyperscalers have already locked in approximately 10 gigawatts of nuclear capacity. That’s enough to power eight million U.S. homes, according to Morris. This demand pull benefits an entire ecosystem, ranging from uranium enrichment firms to developers of small modular reactors (SMRs).
To capture this thematic convergence, investors often look toward diversified ETFs that mitigate the execution risk of individual pre-revenue startups. The Range Nuclear Renaissance Index ETF (NUKZ ) provides exposure across the nuclear value chain, including established utilities like Constellation Energy (CEG) and Vistra (VST). Additionally, for exposure to the automated physical AI layer, the ROBO Global Robotics and Automation Index ETF (ROBO ) offers a seasoned approach to the computer vision and sensing technologies Mercer described.
Looking for regular updates? Subscribe here for weekly insights on robotics, AI, and healthcare technology, delivered straight to your inbox. Subscribe here to keep a pulse on nuclear investing through our weekly research.
For more news, information, and analysis, visit the Nuclear Energy Content Hub.
vettafi.com is owned by VettaFi LLC (“VettaFi”). VettaFi is the index provider for ROBO and NUKZ, for which it receives an index licensing fee. However, ROBO and NUKZ are not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of ROBO and NUKZ.
