Listen on The Move
Most portfolios already own the AI trade — but almost none own the energy underneath it, and that's exactly where the next big opportunity lives.
In this episode of Raise Your Average, hosts Pierre Daillie and Mike Philbrick sit down with Justin Huhn, Founder, Lead Analyst and Editor of Uranium Insider, to unpack why uranium is the missing layer beneath the AI trade — and why the structural supply-demand imbalance in the nuclear fuel cycle may be one of the most consequential and overlooked investment opportunities of the decade.
Justin traces uranium's journey from a forgotten commodity trading near $18/lb in 2017 to today's spot price of $85 — and explains why the bull case is more durable now than ever. The convergence of AI data center power demand, Western electricity grid strain, reactor life extensions, hyperscaler nuclear power agreements, and a deeply undersupplied fuel cycle has created a structural setup that, in Justin's view, doesn't require the AI tailwind to deliver significantly higher uranium prices. That tailwind is, as he puts it, "a bonus."
The conversation covers the full uranium fuel cycle — from mine to reactor — including why supply simply cannot respond as quickly as demand, why utilities are systematically late to contract, how hyperscalers like Microsoft, Google and Amazon entering the nuclear fuel market is a landmark signal, and how advisors can think about positioning uranium as an infrastructure-adjacent hedge on the AI power squeeze.
⏱ Chapters
00:00 — Introduction: AI, energy crisis, and the nuclear renaissance
04:04 — Why nuclear is the only power source AI infrastructure actually needs
09:07 — Justin Huhn: from $18/lb uranium to the global nuclear renaissance
13:50 — Safety, carbon, and why the anti-nuclear narrative finally broke
16:16 — Western electricity demand awakens: AI and electrification converge
21:32 — U.S. grid stress: data centers testing the limits of existing infrastructure
23:40 — Every U.S. reactor getting life extended; hyperscalers entering the fuel cycle
26:39 — What Microsoft, Google and Amazon signing nuclear deals actually signals
28:49 — Supply vs. demand: why uranium can't be turned on like an oil well
34:44 — Why uranium price is almost irrelevant to reactor restart decisions
39:17 — How utilities contract uranium: long-term deals, herd behaviour and missed timing
44:57 — Why utilities have been "utterly wrong" about price trajectory — and why that matters
50:35 — How Uranium Insider models supply and demand out to 2040
52:40 — The dynamic trading model: doubling money while outperforming ETFs by 50–60%
53:10 — Reading the physical market, sentiment signals, and RSI for trade timing
57:54 — Uranium as an advisor portfolio play: the AI-adjacent energy infrastructure trade
59:07 — SMR demand, OPG Darlington, and what the next leg of the cycle looks like
#Uranium #NuclearEnergy #AIInfrastructure #EnergyInvesting #UraniumInsider #NuclearRenaissance #DataCenterPower #SmallModularReactors #UraniumBullMarket #RaiseYourAverage #CriticalMinerals #EnergyTransition #NuclearStocks #UraniumMining #PowerGrid #AIDataCenters #AlternativeEnergy #PortfolioConstruction #InvestmentStrategy #FinancePodcast
