Why NuScale Power Stock Fell 29% in the First Half of 2026

NuScale Power's stock crashed 29% in H1 2026 as investors faced reality: the company hasn't built a reactor yet and won't deliver its first module until 2031. Key setbacks included a $507.4 million milestone payment to commercialization partner ENTRA1 Energy, a $690 million operating loss in Q4 2025, plummeting Q1 2026 revenue, and major shareholder Fluor's complete exit. Despite $890 million in cash reserves, mounting losses and lack of firm revenue-generating contracts have made the stock highly speculative.