Oklo Inc. (OKLO) stock surged 8.71% in the pre-market trading session on Thursday, fueled by a groundbreaking agreement to supply nuclear power to data center operator Switch and bullish analyst coverage from Wedbush.
The advanced nuclear technology company signed a non-binding Master Power Agreement with Switch to develop, construct, and operate 12 gigawatts of its Aurora powerhouse projects through 2044. This involves a series of power purchase agreements to provide emissions-free energy to Switch's cutting-edge data centers across the United States.
Separately, Wedbush initiated coverage on Oklo with an "Outperform" rating and a price target of $26, reflecting a 41.4% upside potential from the stock's last close. The brokerage cited Oklo's solid position to capitalize on the growing demand for clean energy to power AI initiatives, driven by the AI revolution.
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