Oklo Inc. (OKLO), a nuclear power startup co-founded by OpenAI CEO Sam Altman, witnessed a significant pre-market surge of 5.14% on Wednesday, as investors doubled down on the growing demand for nuclear energy to power the rapidly expanding artificial intelligence (AI) industry.
The stock's rally comes amidst a broader sector-wide uptrend, fueled by recent deals between major tech giants and nuclear power providers. Companies like Microsoft, Amazon, and Google are increasingly turning to nuclear energy as a clean and reliable source to meet the immense computational needs of their AI systems and data centers.
While Oklo has yet to generate any revenue or secure definitive customer agreements, the company aims to supply its nuclear power to data centers, industrial customers, and utilities. The startup's high-profile backing, including from Palantir co-founder Peter Thiel and ARK Invest's Cathie Wood, has also contributed to the stock's recent momentum and investor enthusiasm.
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