Explore How AI Is Driving Oklo's 170% Stock Surge Under Sam Altman's Leadership

AI and Nuclear Energy: A Game-Changer for Oklo

By October 2024, Oklo Inc. (NYSE: OKLO) found itself at the intersection of several growing trends, which, combined, enabled the nuclear energy stock to experience one of the most impressive rallies of 2024.

• OKLO shares are, with their October 22 pre-market price of $22.48, a staggering 169.42% in the green in the last 30 days.
• The rally has been continuously strong, as evidenced by the 54.16% rise in the last 5 days.
• Perhaps the most notable driver of this rally is the recent alliance made between artificial intelligence (AI) and nuclear energy.

Oklo has received significant venture capital backing from major players in the booming industry, with OpenAI’s Sam Altman and Palantir’s Peter Thiel perhaps being the most notable investors.

Strengths and Weaknesses of the OKLO Stock Rally

The company received tailwinds in late September when the Department of Energy approved its plans to investigate a location at Idaho National Laboratory in Idaho Falls for a planned nuclear reactor.

• In October, the conceptual design for the Aurora Fuel Fabrication Facility was also approved.
• Oklo designs and produces compact fission reactors capable of providing 15-50 MWe of electrical power for various applications.

Despite this backing, OKLO shares may not sustain their long-term rally due to uncertainties surrounding construction approvals.

The Nuclear Energy Renaissance

Oklo has benefitted from a recent renaissance in nuclear power, driven by big tech plans to utilize the abundant energy source for their AI programs.

• Countries are also seeking to bolster their energy grids with numerous plants under construction globally.
• According to the World Nuclear Association, 60 plants are under construction, and another 110 are planned.

As investors monitor these trends, the question remains: can Oklo sustain its impressive growth in the energy sector?