Goldman Sachs: China Leads Nuclear Race with 40 Reactors Under Construction

Amid a global push for energy security, a new report from Goldman Sachs underscores a widening gap between East and West in the nuclear energy sector. China is currently building 40 grid-scale nuclear reactors, significantly outpacing the speed of construction in Western nations. While microreactor developer Antares achieved a technical milestone by reaching criticality for its pilot design in the U.S., Western progress remains largely characterized by R&D achievements and proposals rather than the physical scale-up seen in China and Russia.

This disparity presents a strategic challenge for Western energy and mining firms, even as Cameco (CCJ) indicated that up to 20 new large-scale reactors are in the pipeline for formal announcement. Per market data, Western producers are competing against state-backed giants like Russia's Rosatom, which maintains a dominant position in the global enriched uranium supply chain. Recent earnings commentary from peers like Constellation Energy (CEG) suggests a focus on extending the life of existing plants to compensate for the slower pace of new domestic builds.

Monitoring market levels, Cameco (CCJ) stood at $105.44 (close June 08, 2026), trading within a range of $104.67 to $107.04. Traders should watch for upcoming contract announcements from CCJ and broader industrial data from China, such as the recently reported Services PMI of 54.4 (June 03, 2026), which signals sustained economic activity driving long-term energy demand.