Key Takeaways
- Oklo shares surged to a fresh all-time intraday high on Wednesday after the company said it won an Air Force contract.
- The nuclear energy startup has been selected to build a reactor to provide energy to an Air Force base in Alaska.
- The stock jump on Wednesday follows a recent rally for Oklo sparked by the Trump administration’s issuance of executive orders aimed at supporting the nuclear energy industry.
Shares of nuclear energy startup Oklo (OKLO) set a fresh record high on Wednesday after the company announced it had tentatively landed a “mission-critical” contract to provide nuclear energy to a U.S. Air Force base in Alaska.
Once it receives the necessary permits to start building its “Aurora powerhouse” small modular nuclear reactors, the startup will “design, construct, own, and operate” a plant to provide power to the Eielson Air Force Base in Alaska.
Oklo has long appeared to be the likely winner of the contract. But the process was delayed over the last two years as complaints were submitted by competing nuclear energy providers, according to Barron’s.
Wednesday’s Jump Adds to Nuclear Stock Rally
The news follows a recent rally for Oklo and other nuclear energy stocks, sparked by President Donald Trump signing executive orders last month aimed at boosting the industry. Oklo CEO Jacob DeWitte was in the Oval Office when the orders were signed, and the company released a statement supporting the directives.
Stocks in the nuclear energy sector have risen over the last year due to the anticipation of growing energy needs to run data centers and train artificial intelligence models. Oklo shares rallied last month after the company announced it had completed initial work at the site in Idaho, where it is planning to build and start operating its first reactor by late 2027 or early 2028.
Oklo shares were up 28% in recent trading on Wednesday, just below the intraday record high of $68.24 set earlier in the session.
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