Oklo Inc.'s stock soared 12.23% in intraday trading on Wednesday, outperforming the broader market and leading a rally in nuclear energy stocks. The surge came as benign inflation data raised expectations that the Federal Reserve would cut interest rates further by July, boosting growth-oriented sectors like technology and energy.
The rally in Oklo Inc.'shares was part of a broader surge in nuclear and other technology stocks, driven by the market's expectations of a more dovish Fed policy. Nuclear energy company NuScale Power rose 9%, while NANO Nuclear Energy gained 8% as traders bet that lower interest rates would support the growth of these innovative firms.
Robotics and drone stocks also joined the rally, with Serve Robotics jumping 17% and SES AI Corp surging 26%. The upbeat sentiment spilled over to other emerging technology plays like Unusual Machines, Palladyne AI, and Red Cat, which saw double-digit gains.
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