Oklo Inc. (OKLO) shares soared 7.11% in pre-market trading on Thursday, outperforming the broader market, as investors grew optimistic about the prospects for nuclear energy.
The rally came after South Carolina power provider Santee Cooper announced that it is seeking proposals for buyers to restart construction of two nuclear reactors at its V.C. Summer Nuclear Station. The move is expected to boost demand for nuclear energy, particularly from tech giants like Amazon and Microsoft that require clean energy to power their data centers and support artificial intelligence capabilities.
Santee Cooper's decision to revive the stalled nuclear project has reignited interest in the nuclear energy sector, benefiting companies like Oklo Inc. that develop advanced nuclear reactor technologies. Investors are betting that the company's innovative designs could find applications in the renewed push for nuclear power.
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