17.06.2026 15:00
Goldman Sachs has described uranium as "the new gold" due to the increasing energy demands of AI data centers. According to the bank, the global uranium market could face a supply deficit of 2 billion pounds by 2045. Investments in nuclear energy by Meta, Amazon, and China are boosting demand, while Kazakhstan, which produces about 40% of the world's uranium, prepared to cut output, driving up price expectations. Analysts predict uranium could rise to $135 by 2027.
With the acceleration of AI investments, energy demand has reached record levels. Goldman Sachs stated that one of the biggest winners of this transformation will be uranium, describing it as the "new gold" and predicting historic price increases for this strategic commodity.
GOLDMAN SACHS ANNOUNCES THE "NEW GOLD": URANIUM
The proliferation of AI technologies and the rapid growth of data centers have begun to shift the balance in global energy markets. Goldman Sachs, one of the world's largest investment banks, has identified uranium, the primary fuel for nuclear energy, as one of the most strategic commodities of the future.
In an analysis prepared by the bank, it was emphasized that AI-driven electricity demand will lead to a significant supply deficit in the uranium market in the coming years.
AI CRAZE HAS SPIKED ENERGY DEMAND
Massive data centers powering AI systems like ChatGPT are consuming increasing amounts of energy. As a result, tech giants are turning to nuclear investments to secure their energy sources.
Meta is working on small modular reactor projects, while Amazon Web Services has started reserving nuclear resources through long-term energy agreements. Meanwhile, China has approved 10 new nuclear reactor projects with an investment of approximately $27 billion.
In the U.S., the reopening of the previously decommissioned Palisades Nuclear Power Plant is among the notable developments.
HUGE DEFICIT EXPECTED BY 2045
According to the Goldman Sachs analysis, the world could face a uranium deficit of about 2 billion pounds by 2045. While global uranium production stood at 173 million pounds last year, annual demand from nuclear power plants reached 204 million pounds, creating a supply gap of roughly 31 million pounds.
This development has driven the price of long-term uranium contracts to their highest levels in 14 years.
RECORD PRICE PREDICTION
Goldman Sachs forecasts that uranium prices could rise to $91 per pound by the end of the year.
Some independent commodity analysts suggest that if the supply shortage grows further, prices could exceed $120 in 2027, possibly reaching $135.
CRITICAL DECISION FROM KAZAKHSTAN
One of the key developments heightening market concerns came from Kazakhstan, the world's largest uranium producer. Kazatomprom, which supplies about 40% of global production, announced a 10% reduction in its 2026 production target.
Additionally, U.S. import restrictions on Russian uranium and Russia's countermeasures have amplified supply-side risks.
WORLD'S URANIUM RESERVES
According to World Nuclear Association data, 28% of global uranium reserves are located in Australia. Kazakhstan ranks second with a 14% share, followed by Canada with 10%. Russia and Namibia each hold an 8% share.
Experts note that just 1 kilogram of uranium produces energy equivalent to about 100 tons of coal, making this mineral one of the most critical elements in the energy transition.