Why Shares of Cameco, Denison Mines, and Uranium Energy All Crashed Today

Monday opened bleakly for uranium mining stocks. Over the weekend, Chinese artificial intelligence (AI) start-up DeepSeek announced it has developed a large language model by the same name that took just two months and cost only $6 million to develop -- yet somehow seems to be outperforming AI developed by ChatGPT over much more time and at far greater cost.The news seems to imply that Western AI companies have been wasting their time buying way more AI chips than they need to -- and that therefore, no one is going to need huge amounts of nuclear power for all these chips. Shares of all the biggest uranium mining stocks are selling off today in response, with Denison Mines (NYSEMKT: DNN) down 9% through 10:30 a.m. ET, Uranium Energy (NYSEMKT: UEC) falling 10.1%, and Canada's Cameco (NYSE: CCJ) down most of all at 13.2%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool