Oklo’s Stock Soars 29.5%! Nuclear Energy Upstart Secures US Air Force Base Contract

TradingKey - Shares of American micro-nuclear energy developer Oklo (NYSE: OKLO) surged 29.48% on Wednesday, reaching an all-time high of $68.91 during trading.

This spike was primarily due to Oklo announcing that it has preliminarily secured a key contract to provide nuclear energy services for the U.S. Air Force base in Alaska, a bidding project that had been delayed for two years due to technical or regulatory issues.

Taking advantage of the high stock price, the company announced a $400 million public offering of common stock, which will be used to accelerate capital expenditures, replenish operational funds, and pursue potential strategic investments, highlighting its urgency in capturing the clean energy market.

Recently, stocks of nuclear startups have performed strongly, primarily benefiting from an executive order supporting the nuclear industry signed by the Trump administration last month. As a developer of micro-reactor technology, Oklo stands to benefit directly from this policy shift. The signing of the nuclear service contract and favorable policies have together driven up Oklo's stock price.

Oklo is a company focused on fission technology and nuclear fuel recycling. It aims to develop rapid fission power plants that can provide clean and affordable energy at scale. The company completed its SPAC listing through a merger with AltC Acquisition Corp in May 2024, raising $306 million.