Oklo Inc. (OKLO) shares surged 6.21% in intraday trading, touching a new record high as power producers across the board saw significant gains. The rally comes on the heels of upbeat forecasts from tech giants Microsoft and Meta, which have boosted investor confidence in energy-intensive sectors.
The broader power production sector experienced a notable uptick, with several companies posting impressive gains. Vertiv and Nuscale Power both climbed 4.8%, while Nano Nuclear saw a 5.3% increase. Industry leader Constellation Energy also hit a record high, rising 1.8%.
Analysts suggest that the positive momentum in the power production sector could be attributed to growing demand for reliable energy sources, particularly as tech companies expand their operations and data center capabilities. Oklo Inc.'s significant outperformance indicates strong investor confidence in the company's prospects within this thriving market environment.
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