Oklo Inc., the nuclear power start-up co-founded by OpenAI CEO Sam Altman, saw its stock soar by 7.54% on Tuesday, as investors continued to bet on the growing demand for nuclear energy from major tech companies pursuing ambitious artificial intelligence projects.
The surge in Oklo's shares comes amid a broader rally in the nuclear power sector, fueled by the increasing appetite for clean and reliable energy sources to power the massive computational needs of AI systems developed by companies like Microsoft, Amazon, and Google.
While Oklo is still a pre-revenue company without any definitive customer agreements, the company aims to sell its nuclear power to data centers, industrial customers, and utilities. The start-up's high-profile backers, including Palantir co-founder Peter Thiel and ARK Invest's Cathie Wood, have also contributed to the stock's recent momentum.
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