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2026-05-25 11:59:16
Macquarie: AI Data Center Electricity Drives Up Uranium Prices, Bullish on Australian Uranium Producers like Paladin (1) Macquarie stated that the continued growth in electricity consumption by AI data centers has boosted demand for uranium-fueled nuclear energy, and Australian uranium producer Paladin Energy and developers Bannerman Energy and Deep Yellow are expected to benefit from the favorable uranium price environment. (2) The bank upgraded Paladin's rating from neutral to outperform, noting that its stock implied a uranium price of US$77 per pound, lower than the spot price of US$84, which it considers "an excellent way to invest in the uranium cycle and the AI megatrend." (3) Macquarie also upgraded Boss Energy's rating from underperform to neutral, stating that although it remains concerned about the downgrade of its Honeymoon uranium project's resource volume and the new feasibility study, these factors are now more fully reflected in the stock price expectations.
