Fantastic stocks and where to find them

Oklo Rockets to 9th in WSB Rankings Amid Nuclear Energy Revival

Stock SpotlightTuesday, Oct 29, 2024 7:04 am ET

1min read

Oklo has surged to the 9th position in the latest WSB rankings, marking a 12-place rise from the previous day. The company’s stock, currently receiving enthusiastic investor attention, soared 28.21%, adding up to a two-day increase of 35.66%, reaching an all-time high during trading.

Recent trends show investors considering nuclear energy as the next frontier in AI-related ventures. Oklo, backed by OpenAI CEO Sam Altman, focuses on designing small modular reactors (SMRs). The rising curiosity from tech giants regarding nuclear power has propelled Oklo's stock by nearly 140% over the past month.

The increase in clean energy demand has led to a revival in the nuclear sector, partly due to the energy needs spurred by AI data centers. Huge tech companies like Amazon, Microsoft, and Alphabet have signed nuclear power deals to support their expanding energy consumption. For instance, a utility company rekindled operations at Three Mile Island, signing a 20-year power agreement with Microsoft.

Amazon’s investment in a company developing modular reactors emphasizes the importance of carbon-free energy sources. As stated by AWS CEO Matt Garman, transitioning to scaleable, carbon-free energy is crucial in tackling climate change, backing Amazon's focus on nuclear power investments.

This revival is stirring substantial market volatility, with shares of utility firms, uranium miners, and nuclear developers experiencing notable price hikes. Oklo’s stock has demonstrated significant growth, with widespread market optimism about the sector’s future.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.