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Rolls-Royce Holdings PLC shares reached an all-time high following the company's announcement of its application for US regulatory approval for its small modular reactor (SMR) business. This development coincides with a new US-UK nuclear pact aimed at expediting design checks and licensing processes, allowing for faster project approvals.

The partnership seeks to enhance energy sources to meet rising electricity demands, particularly from data centers. The UK government has also selected Rolls-Royce SMR to develop the nation’s first small modular nuclear reactor.