Sohn Conference Foundation

Alex Silver

BWX Technologies combines a contracted, sole-sourced government business representing 75% of revenue with 400+ Navy nuclear cores built without a safety incident and scarce licensing and manufacturing capabilities.ANM’s thesis hinges on 4–5-year time-to-power, a potential mPower-based PWR white space, and more than 100% upside from about $200, but customer interest must de-risk any updated design.