Sam Altman-backed energy stock surges amid AI-driven 'nuclear power renaissance'

Published On Oct 27, 2024, 1:25 PM

Oklo, a nuclear power company backed by Sam Altman, has seen its stock rise nearly 140% over the past month due to increasing interest from major tech companies in nuclear energy, particularly small modular reactors (SMRs). Major firms like Google and Amazon are investing heavily in nuclear to meet growing energy demands driven by AI technology. Analysts suggest a nuclear power renaissance is underway, potentially growing the SMR market to $300 billion by 2040. However, challenges such as regulatory hurdles and supply chain issues for necessary materials like high-assay low-enriched uranium (HALEU) may impact future profitability.

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Stock Forecasts

OKLOView OKLO chart on TradingView

Positive

Oklo has significant backing and the tech sector's pivot towards nuclear energy creates strong growth potential, but regulatory challenges remain a concern. If these hurdles can be overcome, Oklo could perform well.

SMRView SMR chart on TradingView

Positive

NuScale is well-positioned with similar technology to Oklo and is also gaining investor interest. However, it faces similar regulatory and technological challenges that could hinder short-term growth.

NNEView NNE chart on TradingView

Positive

NANO Nuclear Energy, another player in the SMR market, has positioned itself well alongside Oklo, but the risks regarding production and regulatory approval may temper expectations for rapid growth.

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