As tech giants turn their attention toward nuclear power for artificial intelligence and data centers, one producer is seeing its shares surge.
Oklo, a nuclear power company that counts OpenAI chief executive Sam Altman as an investor, has seen its shares climb around 150% previously month. The stock is up almost 50% thus far this yr. Nonetheless, during mid-day trading on Thursday, Oklo was down almost 5%.
The Santa Clara, California-based company, which has three project sites, says it’s “developing next-generation fission powerhouses to supply abundant, inexpensive, clean energy at a world scale.” Oklo’s Aurora powerhouse can produce 15 megawatts of electrical power (MWe), which the corporate says can scale as much as 50 MWe and operate for ten years or longer before needing to be refueled.
Oklo’s shares have been on the up since Microsoft (MSFT) made a 20-year power purchase agreement in September with Constellation Energy (CEG) that may restart the Unit 1 reactor at Three Mile Island. Constellation, which owns a lot of the U.S.’s nuclear power plants, has seen its shares rise around 36% previously month. Its stock is up 138% thus far this yr.
Through the Microsoft and Constellation deal, which is able to launch the Crane Clean Energy Center (CCEC), Microsoft will purchase energy from the Unit 1 reactor as a part of its sustainability goal. The CCEC, which is predicted to come back online by 2028, will add greater than 800 MW of carbon-free electricity to the ability grid, a study by the Pennsylvania Constructing and Construction Trades Council found.
This week, Google (GOOGL) announced it had signed “the world’s first corporate agreement to buy nuclear energy” from small modular reactors, or SMRs, developed by California-based Kairos Power. The tech giant said it expects to bring Kairos Power’s first SMR online by the top of the last decade.