Granted, SMR's design is licensed by the NRC, and IMO a conventional light-water SMR is WAY more likely to get actually get built than the (IMO) harebrained fast-neutron liquid-metal cooled designs that Gates and Altman are behind.
But that said, I have a REAL tough time valuing SMR at fully 1/5th the market cap of Cameco. Newsflash: Westinghouse employs the majority of nuclear engineers in north America.