Oklo Inc. (OKLO) saw its stock soar 11.85% in intraday trading on Friday, as the company gained traction on multiple positive developments.
The advanced nuclear reactor developer is riding high after unveiling a potential alliance with nuclear fuel technology firm Lightbridge Corporation (LTBR). The two companies signed a memorandum of understanding to evaluate opportunities for cooperation in reprocessing and recycling used uranium-zirconium fuel, as well as the feasibility of co-locating fabrication facilities.
Additionally, analysts are bullish on the role of nuclear power in meeting surging electricity demands driven by the rise of artificial intelligence (AI). Canaccord Genuity analyst George Gianarikas stated that the AI boom will likely necessitate a "boatload" of capital expenditure on electricity production, with nuclear power being a clean and reliable baseload option. Gianarikas highlighted Oklo as a company well-positioned to capitalize on this trend.
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