What prompted BNP Paribas Clean Energy Solutions fund to reverse its stance and invest in SMR stocks after previously calling the sector 'non-viable'?

The fund reversed its stance due to a reassessment of recent entrants in the nuclear power sector, specifically targeting companies with lower operating risks—evidenced by strong order books, credible financial backers, and capital-light business models—after previously dismissing SMRs as prone to 'meme-like' rallies and unsustainable valuations, especially following the sharp selloff that began around October when stocks like Oklo Inc. and Nuscale Power Corp. plunged from earlier highs driven by AI-data-center hype.

Which SMR company has the BNP Paribas Clean Energy Solutions fund confirmed investing in, and what key facts about it are cited in the article?

The fund confirmed its first SMR investment is in X-Energy Inc., which listed in late April; the article notes X-Energy had a $10 billion market capitalization as of end-April, was backed by Citadel Advisors LLC and Ares Management Corp., and had signed a 2024 deal with Amazon.com Inc. to deliver over 5 gigawatts of new power projects in the US by 2039.

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