Oklo Inc. (OKLO) saw its stock soar 6.62% in pre-market trading on Friday, as investors reacted positively to reports of the Trump administration's plans to boost energy supply for artificial intelligence (AI) growth, with a particular focus on nuclear power.
According to a Reuters report, the Trump administration is preparing a package of executive orders aimed at addressing the massive power demand growth for data centers driving AI expansion. The measures under consideration include making it easier for power-generating projects to connect to the grid and providing federal land for building data centers. These actions are expected to significantly benefit nuclear energy companies like Oklo.
The news has sparked a broader rally among nuclear energy stocks, with NuScale Power gaining 4.2% and other companies in the sector also seeing notable increases. Analysts suggest that this renewed focus on nuclear energy as a solution to the growing power demands of AI could provide a significant boost to companies like Oklo, which are at the forefront of developing advanced nuclear technologies.
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