NuScale Power maintains a strong liquidity position of nearly $1.9 billion in cash, equivalents, and investments with no debt as of mid-2026, following aggressive equity raises that funded operations amid near-zero revenue and widening losses. This runway undercuts near-term bankruptcy risk despite heavy cash burn, securities litigation tied to its ENTRA1 partnership, and analyst downgrades highlighting delayed deployments and competition from peers advancing toward construction. Recent milestones include NRC design approvals and a September 2026 fabrication breakthrough for passive cooling components, while key catalysts involve potential Tennessee Valley Authority agreements and progress on the Romania project. Traders weigh these factors against historical SMR cost overruns and dilution pressures when assessing any bankruptcy timeline.