Nuclear stocks rose on Wednesday. Oklo rose over 10%; NANO Nuclear Energy up nearly 4%; NuScale Power, Energy Fuels, Lightbridge up over 3%; NRG Energy up 2%.

Nuclear power will receive most of the money from the Energy Department’s loan office as the Trump administration pushes to quickly break ground on new reactors, Secretary Chris Wright said on Monday.

“We have significant lending authority at the loan program office,” the Secretary of Energy said at a conference hosted by the American Nuclear Society in Washington D.C. “By far the biggest use of those dollars will be for nuclear power plants — to get those first plants built.”

President Trump signed an executive order in May that called for the U.S. to break ground on 10 large nuclear reactors by 2030. Alphabet, Amazon, Meta Platforms and Microsoft are investing billions of dollars to restart old nuclear plants, upgrade existing ones, and deploy new reactor technology to meet the electricity demand from artificial intelligence data centers.

Wright said he expects electricity demand from AI to attract billions of dollars in equity capital to build new nuclear capacity from “very creditworthy providers.” The Energy Department could match those private dollars by as much as four to one with low cost debt financing from the loan office, he said.

“When we leave office three years and three months from now, I want to see hopefully dozens of nuclear plants under construction,” Wright said.