Justin Huhn: Uranium is the Missing Layer Beneath the AI Trade

About this episode

Justin Huhn discusses the critical role of uranium in the context of the AI trade and the investment opportunities it presents.

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…

People in this episode

Hosts: Pierre Daillie, Mike Philbrick

Guest: Justin Huhn

Topics covered

• uranium investment
• AI trade
• energy supply-demand
• nuclear fuel cycle
• portfolio management
• infrastructure hedge

Keywords

• uranium
• AI trade
• investment opportunities
• nuclear energy
• supply-demand imbalance
• energy market
• portfolio strategy

Mentioned in this episode

Organizations: Uranium Insider, Microsoft, Google, Amazon

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