Uranium prices trend upward toward $89/lb on supply constraints and AI-driven demand

Uranium futures are approaching February highs as structural supply deficits from years of underinvestment collide with surging electricity demand from AI data centers. While prices previously consolidated between $84 and $87, the current momentum suggests a sustained tightening of the spot market. It remains uncertain whether current mine output can scale rapidly enough to meet the projected long-term nuclear energy requirements.