The nuclear story has completely flipped — and according to
Cameco CEO Tim Gitzel, this is now the strongest market he’s seen
in over 40 years.
In this conversation on In the Money with Amber Kanwar, Gitzel
explains why uranium and nuclear energy have gone from a
post-Fukushima downturn to a full-scale global comeback. He walks
through the turning points — from the shutdown of Japan’s
reactors and a decade-long bear market, to today’s surge driven
by climate goals, energy security concerns, and rising
geopolitical tensions. As countries rethink their dependence on
foreign energy and fragile supply chains, nuclear power is moving
back to the center of the global energy mix.
The discussion also dives into Cameco’s transformation from a
uranium producer into a more vertically integrated nuclear
player, including its major stake in Westinghouse alongside
Brookfield Asset Management. Gitzel explains how that deal
positions the company to benefit from a massive global buildout
of reactors — including a landmark $80 billion commitment from
the U.S. to expand nuclear capacity.
Finally, Gitzel breaks down the next wave of demand: AI and data
centers. With electricity needs set to surge, he explains why
nuclear’s reliability, long lifespan, and energy security
advantages are making it increasingly essential — and why this
cycle could look very different from anything the industry has
seen before.
If this cycle plays out as expected, nuclear won’t just be part
of the energy mix — it could become the backbone of the next era
of global power.
Timestamps
02:25: Intro
04:50: Best environment for nuclear in over 40 years
06:15 Tim Gitzel’s path to Cameco CEO
08:30 Fukushima and what’s happened since
12:35 What kept Gitzel at Cameco through the lean years?
13:45 The new commitment to nuclear power
14:50 Cameco’s stake in Westinghouse
18:30 Cameco’s partnership with the U.S. government
26:20 Rumours that the U.S. is also working with competitors +
cost overrun concerns
30:35 ATB Cormark Capital Markets
31:05 Cameco in Canada
34:00 The war in Iran & impact on nuclear
36:35 AI, data centres & nuclear
42:00 Succession planning & Tim’s legacy
44:00 Does it all go away if there’s another accident?
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In the Money delivers expert stock picks, actionable ideas, and
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