Oklo Inc. (OKLO) shares surged 11.17% in intraday trading on Tuesday, riding a wave of enthusiasm that swept through the nuclear energy sector. The rally was primarily fueled by news of a landmark agreement between Meta Platforms and Constellation Energy, which sparked renewed interest in nuclear power stocks.

The catalyst for the sector-wide boom was Meta's commitment to purchase approximately 1.1 gigawatts of energy from Constellation's Clinton Clean Energy Center in Illinois under a 20-year deal. This agreement not only secures the future of the nuclear plant but also underscores the growing importance of nuclear energy in powering the tech industry's expanding needs, particularly in the realm of artificial intelligence and data centers.

Oklo Inc., a Sam Altman-backed nuclear startup, benefited from this positive sentiment along with other players in the nuclear and uranium space. Industry leader Constellation Energy saw its shares surge by 15%, while uranium prices climbed 7%. Fellow nuclear technology firms like NuScale Power and Nano Nuclear Energy also experienced significant gains, rising by approximately 7% each.

The rally in nuclear energy stocks reflects growing investor confidence in the sector's potential, driven by factors such as increasing focus on clean energy solutions, potential policy support, and technological advancements in the nuclear field. As companies like Meta commit to matching 100% of their electricity use with clean, renewable energy, nuclear power is increasingly seen as a viable and necessary component of the future energy mix, particularly for power-hungry industries like AI and cloud computing.