Oklo Inc., a development-stage company focused on building small modular nuclear reactors, witnessed its stock surge by 5.25% on November 6th, 2024. This surge can be attributed to the growing interest and adoption of nuclear energy by major tech companies and investors.
The company recently received a significant boost when the Department of Energy approved the conceptual safety design report for its Aurora Fuel Fabrication Facility. This approval marks an important step towards the construction of Oklo's first nuclear plant, fueling investor confidence in the company's prospects.
Furthermore, tech giants like Microsoft, Alphabet, and Amazon have announced deals to utilize small modular reactors to power their data centers, recognizing the potential of nuclear energy as a reliable and sustainable power source. These developments have highlighted the increasing demand for nuclear energy and have contributed to the recent surge in Oklo's stock price.
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