A large investment firm and a Canadian uranium enrichment company made a big bet three years ago on nuclear power by acquiring Westinghouse, an energy company that had fallen on hard times. Now, that wager is proving prescient.

Soaring demand for electricity, driven by data centers, and renewed bipartisan and global interest in nuclear power have made Westinghouse a go-to source for nuclear power technology.

The prominence of Westinghouse in the development of new nuclear power plants gained international attention Wednesday after the Trump administration announced a broad agreement with Saudi Arabia that could enable the country to enrich its own fuel for nuclear reactors.

Officials in the Trump administration estimated that the deal would provide billions of dollars for the U.S. nuclear industry — starting with Westinghouse, which developed the technology used in the only two reactors built in the United States in the last decade, both in Georgia. A version of Westinghouse’s AP1000 reactors has also been built in China in recent years, and the AP1000 has been selected for projects in Eastern Europe and elsewhere.

Westinghouse regained its footing after Brookfield Asset Management, a New York investment firm, and Cameco, a uranium enrichment company based in Saskatoon, Saskatchewan, acquired it in November 2023. Westinghouse filed for bankruptcy in 2017 after it failed to bring a new fleet of nuclear power plants online.

“More than half of the world’s existing nuclear reactors are based on Westinghouse technology, and today the company provides technical products and services across the global nuclear market,” Dan Sumner, the chief executive of Westinghouse, said in an interview on Wednesday. “The foundation of our turnaround has been built on the strength this operating fleet business.”

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