Shares of Oklo (NYSE: OKLO) are soaring today, up 5.7% as of 1:33 p.m. ET. The jump comes as the S&P 500 and Nasdaq Composite both moved higher.
While there isn’t a specific catalyst today, the company’s stock is continuing to rise after an important announcement last week and broader momentum in the nuclear industry.
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Oklo is teaming up with the Air Force
The company, which develops advanced small nuclear reactors (SMRs), announced last week that it has been “conditionally” selected to provide power to an Air Force base in Alaska. The contract, which still needs to be finalized, has been in the works for years. Past attempts to close a deal had been delayed, but it now appears the necessary hurdles have been cleared.
The company’s Aurora Powerhouse, an SMR, will provide all the power the remote base needs locally, allowing the base’s independence from the grid.
Image source: Getty Images.
Trump bets on nuclear power
Late last month, President Donald Trump signed several executive orders to speed up the permitting of new reactors and boost domestic uranium production. The administration believes that nuclear energy can provide a key part of the country’s energy needs, especially in light of the growing demand from artificial intelligence data centers. The clear endorsement of the administration has fueled nuclear stocks across the industry, including Oklo, for weeks.
Oklo is in a unique position
SMRs offer unique advantages over traditional nuclear reactors, namely, the fact that they can be tailor-fit to a specific site, like the Air Force base or the many artificial intelligence data centers that are being built across the country. It’s clear there is demand. If Oklo can produce a working, safe model, it will be massively successful. Of course, with any company developing new technologies, there is no guarantee it will be successful. I think there is plenty of reason to believe it will be, however. I think Oklo is a good pick.
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Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
