Oklo Inc. (NYSE: OKLO) shares rose 2.61% to $23.18 at 11:46 a.m. EST, fueled by investor enthusiasm for new deals. The advanced nuclear energy business announced agreements with two major data center operators in the United States, with the goal of producing up to 750 megawatts (MW) of sustainable energy.
The revelation increased Oklo’s stock price by more than 10% in pre-market trade, reflecting excitement about the company’s future prospects.
The letters of intent (LOIs) expand Oklo’s customer pipeline to 2,101 MW, demonstrating the robust demand for its sustainable energy solutions. To provide a consistent, low-carbon energy supply, Oklo plans to build Aurora power plants, which are tiny, scalable units ranging from 15 MW to 50 MW in size, at strategic locations across the US. While minimizing project risks and financing costs, this strategy will benefit data centers that require a stable power source.
CEO Jacob DeWitte emphasized Oklo’s commitment to sustainability, stating, “Our strategy helps customers scale efficiently while meeting their energy needs.” Oklo maintains control over energy output by owning and operating these power facilities, resulting in a continuous cash stream and reduced dependency on conventional grids.
With a 52-week range of $5.35 to $28.12 and a market value of $2.83 billion, experts are closely watching the company’s progress in the renewable energy field. Oklo’s alliances generate hope in investors since they pave the way for more ecologically sustainable energy generation.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult a qualified financial advisor or conduct your own research before making investment decisions.
