Nuclear Stocks Surge: OKLO and NNE Soar Amid Tech Giants' Interest in Nuclear Energy

Oct 18, 2024

Nuclear energy stocks experienced significant gains recently, with Oklo Inc (OKLO, Financial) continuing its upward momentum. The stock surged over 25% to $19.67, marking an impressive 96% increase over four days and reaching a historical high.

NANO Nuclear Energy (NNE) also saw a substantial rise, climbing over 17% to $21.75, while NuScale Power (SMR) increased by more than 4% to $18.85. This surge comes as notable U.S. technology companies, such as Amazon (AMZN), are stepping into the nuclear power arena.

Amazon has signed three agreements focusing on small modular reactors (SMR), highlighting its commitment to nuclear energy development. Additionally, other tech giants like Microsoft (MSFT) and Google are actively engaging in nuclear energy initiatives as well.

Oklo Inc, chaired by OpenAI's CEO Sam Altman, aims to launch its first SMR by 2027, showcasing the growing corporate interest and investment in nuclear technology.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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