Uranium stocks could benefit from two key catalysts.

One, the Trump Administration just expanded its critical minerals list to include uranium in an effort to strengthen domestic supply and reduce reliance on foreign sources.

As noted by Investing News, “The designation of uranium recognizes its strategic importance in powering commercial nuclear reactors, fueling US Navy submarines and supporting defense applications. Currently, the United States imports over 95 percent of its uranium, a dependence that policymakers view as a critical national security concern.”

Two, as the demand for artificial intelligence grows, tech giants are turning to nuclear power to fuel their energy-intensive data centers. Microsoft, for example, recently signed a power purchase agreement with Constellation Energy. That’s because Microsoft needs extra power to run the servers at its Azure business unit, and thinks nuclear might be the best way to produce that power. Alphabet and Amazon are looking to nuclear power for their data centers. Even Alphabet partnered with Kairos Power to open small modular nuclear reactors.

We can always jump into uranium stocks like Uranium Energy Corp. (SYM: UEC), Denison Mines (SYM: DNN), Cameco Corp. (SYM: CCJ) and NexGen Energy (SYM: NXE).

However, if you want the greatest exposure to uranium stocks at a lower cost, you may want to consider exchange traded funds (ETFs), such as:

Global X Uranium ETF (URA)