A new nuclear reactor Combined License (COL) would be a significant milestone for the US nuclear renaissance. Approval in 2026 would directly benefit nuclear fuel suppliers (e.g., CCJ, LEU) and Small Modular Reactor (SMR) developers (e.g., OKLO, SMR, NNE), validating expectations of regulatory easing. While impact on broad indices is limited, it is a strong catalyst for specific stocks in the sector.