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As tech giants flip their attention toward nuclear power for artificial intelligence and data facilities, one producer is seeing its shares surge.
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Oklo, a nuclear power company that counts OpenAI chief govt Sam Altman as an investor, has seen its shares climb around 150% in the past month. The stock is up almost 50% so far this year. Nonetheless, during mid-day trading on Thursday, Oklo was down almost 5%.
The Santa Clara, California-based company, which has three challenge sites, says it’s “developing subsequent-generation fission powerhouses to construct abundant, affordable, clean power at a global scale.” Oklo’s Aurora powerhouse can construct 15 megawatts of electrical power (MWe), which the company says can scale up to 50 MWe and operate for ten years or longer earlier than needing to be refueled.
Oklo’s shares have been on the up since Microsoft (MSFT+0.18%) made a 20-year power purchase agreement in September with Constellation Energy (CEG-3.03%) that will restart the Unit 1 reactor at Three Mile Island. Constellation, which owns many of the U.S.’s nuclear power plants, has seen its shares upward push around 36% in the past month. Its stock is up 138% so far this year.
Via the Microsoft and Constellation deal, which can launch the Crane Clean Energy Heart (CCEC), Microsoft will purchase power from the Unit 1 reactor as part of its sustainability goal. The CCEC, which is expected to arrive back online by 2028, will add extra than 800 MW of carbon-free electrical energy to the power grid, a contemplate by the Pennsylvania Building and Construction Trades Council found.
This week, Google (GOOGL-1.34%) announced it had signed “the arena’s first corporate agreement to purchase nuclear power” from small modular reactors, or SMRs, developed by California-based Kairos Power. The tech giant said it expects to bring Kairos Power’s first SMR online by the tip of the decade.