Oklo Inc. (OKLO) Jumps 10.7% as DOE Unveils New Nuclear Devt Program

We recently published 10 Stocks Gaining Double Digits Effortlessly. Oklo Inc. (NYSE:OKLO) was one of the best performers on Wednesday.

Oklo grew its share prices by 10.70 percent on Wednesday to finish at $94.39 apiece, as investors mirrored the rally in nuclear stocks following the Department of Energy’s (DOE) announcement of a new initiative aimed at developing the country’s nuclear supply chain.

Oklo Inc. (NYSE:OKLO) rallied alongside its nuclear counterparts after the DOE asked states to host the “Nuclear Lifecycle Innovation Campuses,” which would support activities across the nuclear fuel lifecycle, including recycling used fuel.

“Unleashing the next American nuclear renaissance will drive innovation, fuel economic growth, and create good-paying American jobs while delivering the affordable, reliable, and secure energy America needs to power its future,” said Energy Secretary Chris Wright.

In other developments, Oklo Inc. (NYSE:OKLO) rode the rally in artificial intelligence stocks, following AI and semiconductor companies’ billion-dollar investments in the sector.

For energy firms such as Oklo Inc. (NYSE:OKLO), any further acceleration in AI and data centers spells good news as these would prop up demand in power, as well as future profit margins.

Oklo Inc. (NYSE:OKLO) remains a pre-revenue company and is currently underway with the development of its nuclear reactors called Aurora powerhouses.

While we acknowledge the potential of OKLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.