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Oklo stock skyrockets more than 500%

Oklo stock skyrockets more than 500% in the last year
Oklo stock skyrockets more than 500% in the last year

Several stocks associated with the nuclear energy niche have seen notable gains during the current renaissance. For instance, Oklo (NYSE: OKLO) has risen an incredible 559.6%. Many think there is still more room for growth in this stock as interest in nuclear power keeps growing.

Oklo stock skyrockets more than 500% in the last year

Over the past year, Oklo’s quick rise has been fueled by several catalysts rather than just one. Following the company’s announcement of letters of intent from two data center customers to deploy its Aurora powerhouse small modular reactors, investors propelled the stock higher in late 2024. Up to 750 megawatts of capacity could be provided nationwide by these agreements.

Additionally, Oklo revealed a non-binding contract to install 12 gigawatts in Aurora projects by 2044. The company partnered with Switch, a supplier of cloud, AI, and enterprise data centers.

The momentum continued into early 2025. Investors flocked to purchase Oklo shares after Sam Altman’s OpenAI announced the Stargate Project in January, hoping that the initiative’s expansion of the data center would help the business.

Another boost for Oklo came in May when President Donald Trump signed executive orders to revive the US nuclear energy industry. The current administration is obviously in favor of nuclear development after years of federal disinterest.

Long term potential

The future of Oklo is still bright. Data center investment is on the rise due to AI-driven computing demands. Global data center spending is expected to increase from $430 billion in 2024 to $1.1 trillion by 2029, according to research from Dell’Oro Group. According to Oklo’s 2024 agreements, there will likely be a need for its reactors through 2025 and beyond.

Regulators’ support has also increased. An Oklo report that might result in operator licensing for its Aurora systems was accepted for review by the U.S. Nuclear Regulatory Commission at the beginning of June.

Atomic Alchemy, Oklo’s subsidiary, contributes an additional layer of expansion in the meantime. The company is expected to increase its role in commercial radioisotope production through a number of projects, including the construction of a radioisotopic production facility in Idaho in June. Despite being less well-known, this market is expected to grow rapidly. Credence Research projects that it will increase at a CAGR of 89.7%, from $5.68 billion in 2024 to $953 billion by 2032.

Featured Image Credit: Pixabay: Pexels: Thank You!

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Matt Rowe is graduated from Brigham Young University in Marketing. Matt grew up in the heart of Silicon Valley and developed a deep love for technology and finance. He started working in marketing at just 15 years old, and has worked for multiple enterprises and startups. Matt is published in multiple sites, such as Entreprenuer.com and Calendar.com. Pitch Financial News Articles here: [email protected]
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