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Citadel Billionaire Ken Griffin Wants North America To Invest in Nuclear Energy

November 20, 2023
x min read

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

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