Company Performance - OKLO shares surged 169 42% in the last 30 days reaching a pre market price of $22 48 on October 22 2024 [1] - The stock experienced a 54 16% rise in the last 5 days and a 22 38% rally in the last session [1] Key Drivers of the Rally - The rally is driven by the alliance between artificial intelligence (AI) and nuclear energy with significant venture capital backing from major players like OpenAI's Sam Altman and Palantir's Peter Thiel [2] - The Department of Energy approved Oklo's plans to investigate a location at Idaho National Laboratory for a nuclear reactor and the conceptual design for the Aurora Fuel Fabrication Facility was also approved [3] Company Operations and Technology - Oklo designs and produces compact fission reactors providing 15 50 MWe of electrical power for data centers AI remote settlements military bases and industrial plants [3] Industry Trends - The nuclear energy sector is experiencing a renaissance driven by big tech's plans to utilize nuclear power for AI programs [5] - Multiple firms and funds involved with atomic energy have been rallying with initiatives like Microsoft's plans to restart the Three Mile Island nuclear reactor [5] - Fission is gaining traction as a reliable and clean energy source to meet the AI boom's energy demands and mitigate climate change [5] - Globally 60 nuclear plants are under construction and 110 are planned across all continents except Australia and Antarctica [5] Potential Challenges - Work at the Idaho site may not begin in 2027 as planned due to pending construction approval from the Nuclear Regulatory Commission [4] - Fission reactors may face obsolescence depending on the progress of fusion reactor projects like the International Thermonuclear Experimental Reactor (ITER) [4]
This Sam Altman-backed energy stock is up 170% in a month