Oklo Inc.'s stock soared 5.09% intraday on Friday, as the market reacted positively to news of major technology companies investing in next-generation nuclear power projects.

The surge follows a Reuters report detailing how Big Tech firms like Meta, Amazon, and Google are backing advanced nuclear companies to secure electricity for their power-hungry AI data centers. Specifically, Meta has signed a deal with Oklo to develop a 1.2 GW nuclear technology campus in Ohio, providing the company with crucial funding and revenue certainty.

Analysts note that the race to power AI data centers is giving a fresh boost to the nuclear sector, with long-term agreements from tech giants making companies like Oklo more attractive to investors by reducing financing risks and supporting project development.