Ten stocks kicked off the trading week with impressive gains,  mimicking an overall market rally, as investors loaded positions ahead of an expected rate cut in this week’s Federal Open Market Committee (FOMC) meeting.

The stocks, seven of which rallied to all-time highs, surged by 9 percent to double digits during the session, and were dominated by uranium and nuclear firms after the US government signaled support for the expansion of the sector.

In this article, we name the 10 firms alongside the reasons behind their gains. To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.

10. IREN Ltd. (NASDAQ:IREN)

Shares of IREN Ltd. jumped by 9.36 percent to hit a new all-time high as investors took path from an analyst’s bullish coverage for its stock.

During the session, IREN Ltd. (NASDAQ:IREN) soared to its highest price of $37.23 before trimming gains to end the day just up by 9.36 percent at $37.14 apiece.

This followed investment firm Compass Point’s “buy” recommendation for its stock, underscoring strong optimism.

In other developments, IREN Ltd. (NASDAQ:IREN) has been riding the growing artificial intelligence wave amid expectations for huge demand in high-performance computing (HPC) services.

Earlier this month, IREN Ltd. (NASDAQ:IREN) said it expanded its Nvidia GPUs to 10,900 to support its AI Cloud business as it continues to transition into AI servicing.

In August alone, the company raked in $2.4 million in revenues from AI Cloud alone, higher by 4.3 percent than the $2.3 million registered in the month earlier.

9. Lyft Inc. (NASDAQ:LYFT)

Shares of Lyft Inc. (NASDAQ:LYFT) rallied to a new all-time high on Monday, as investors cheered potential benefits from a pending legislation in California that is expected to bolster its EBITDA next year.

During the session, the stock touched a new 52-week price of $20.50 before a slight pullback to end the day just up by 9.77 percent at $20.44 apiece.

Last week, investment firm Bernstein said that California was looking to consider state bills AB 1340 and SB 371, which would allow drivers to negotiate terms as a union while maintaining their independent contractor status and lower the required uninsured motorist coverage.

The latter is expected to reduce Lyft Inc.’s (NASDAQ:LYFT) costs by nearly 30 percent of its 2026 EBITDA, although Bernstein expects most savings would be reinvested through lower prices for consumers and higher driver earnings.

Bernstein maintained its price target of $16 and market perform rating on Lyft Inc. (NASDAQ:LYFT).

In other news, the company announced plans to raise $450 million through the issuance of convertible senior notes due 2030, with proceeds to be used to fund a share buyback program, alongside other general corporate purposes.

8. Cameco Corp. (NYSE:CCJ)

Cameco Corp. rallied to a fresh 52-week high on Monday as investors cheered a new long-term uranium supply agreement with a Slovakian nuclear firm as well as rosy prospects for the overall industry in the US.

During the session, Cameco Corp. (NYSE:CCJ) surged to its highest price of $86.37, marking a 10.57-percent jump, before trimming gains to end the day at $86.32 apiece.

This followed announcements that it entered into an agreement with Slovenské elektrárne (SE) for the delivery of a diversified and secure source of natural UF6 that will support operations of the latter’s Bohunice and Mochovce nuclear facilities from 2028 to 2036. No other details were divulged amid non-disclosure agreements.

“Cameco is proud to play an essential role in helping Slovakia meet its nuclear fuel needs. With this long-term agreement, we are adding a new market to our global commercial portfolio and supporting Slovakia with a stable, reliable supply of uranium fuel that is expected to enhance energy security in the region,” said Cameco Corp. (NYSE:CCJ) CEO Tim Gitzel.

For its part, SE said that the partnership was a significant step for Slovakia’s energy security.

“The contract is strategic for Slovenské elektrárne—allowing us to diversify our suppliers, reduce our dependence on one source, and at the same time guarantee the smooth operation of our nuclear power plants,” said SE Chairman and CEO Branislav Strýček.

In other developments, Cameco Corp. (NYSE:CCJ) rallied alongside its peers after the US signaled that it would support the expansion of the uranium sector in the country.

7. NexGen Energy Ltd. (NYSE:NXE)

NexGen snapped a two-day losing streak on Monday, jumping 10.62 percent to close at $8.44 apiece as investors welcomed the US government’s backing for the expansion of uranium production in the country.

NexGen Energy Ltd. (NYSE:NXE) rallied alongside its counterparts after Energy Secretary Chris Wright said that the US should look to boost its strategic uranium reserve to buffer against Russia and ultimately, to support nuclear expansion in the US.

“We hope to see rapid growth in uranium consumption in the US from both large reactors and small modular reactors,” Wright was quoted as saying in an interview with Bloomberg.

“The size of that right buffer would grow with time. We need a lot of domestic uranium and enrichment capacity,” he added.

Investors were quick to snap up uranium stocks on expectations that more investments are set to be poured into the sector.

Wright’s comments sparked rosy prospects for NexGen Energy Ltd. (NYSE:NXE), especially as it successfully explored massive uranium resources at the Patterson Corridor East, where two drill holes discovered high-grade levels of the said minerals.

6. Uranium Energy Corp. (NYSEAmerican:UEC)

Uranium Energy ended two straight days of losses on Monday, jumping to a new all-time high as investors loaded portfolios in uranium companies amid rosy prospects for the sector.

At intra-day trading, Uranium Energy Corp. (NYSEAmerican:UEC) soared to its highest 52-week price of $13.25 before paring gains to end the day just up by 10.95 percent at $13.17 apiece.

This followed Energy Secretary Chris Wright’s comments that the US should look to boost its strategic uranium reserve to buffer against Russia and ramp up nuclear power generation.

In an interview with Bloomberg, Wright said that the country hopes “to see rapid growth in uranium consumption in the US from both large reactors and small modular reactors.”

“The size of that right buffer would grow with time. We need a lot of domestic uranium and enrichment capacity,” he added.

Investors were quick to snap up shares in uranium companies on expectations that key players would aggressively expand to support government plans.

In other news, Uranium Energy Corp. (NYSEAmerican:UEC) launched a new subsidiary to pursue the development of a new state-of-the-art American uranium refining and conversion facility.

Uranium Energy Corp. (NYSEAmerican:UEC) President and CEO Amir Adnani said that the company is positioning itself as the only vertically integrated US firm with uranium mining, processing, refining, and conversion capabilities to provide a secure, geopolitically reliable source of Uranium Hexafluoride for nuclear reactors.

5. Pony AI Inc. (NASDAQ:PONY)

Shares of Pony AI grew by 10.94 percent on Monday to close at $16.63 apiece, alongside its Chinese counterparts, as investors placed bets on Beijing’s intervention to turn around recent economic weakness.

According to the latest data, China’s factory output and retail sales reported their weakest growth since last year, putting pressure on the government to roll out initiatives to fend off a sharp slowdown.

In recent news, Pony AI Inc. (NASDAQ:PONY) partnered with Mowasalat, one of the largest transportation providers in Qatar, for the deployment of autonomous vehicles in the Middle Eastern country.

Under the partnership, Pony AI Inc.’s (NASDAQ:PONY) robotaxis have begun testing on public roads in Doha, with the initial phase conducted with safety operators onboard.

The trials were said to be focused on adapting the Chinese firm’s autonomous driving stacks to the nation’s weather, road infrastructure, and traffic conditions.

4. Rezolve AI PLC (NASDAQ:RZLV)

Rezolve AI jumped by 14.20 percent on Monday to close at $7.72 apiece as investor sentiment was boosted by an investment firm’s higher price target for the company.

In an updated market report, Rezolve AI PLC (NASDAQ:RZLV) earned a new price target of $9 from HC Wainwright, marking an increase from the $4 previously, while maintaining a “buy” recommendation for its stock.

The revision was boosted by optimism that Rezolve AI PLC (NASDAQ:RZLV) was on track to achieve $100 million in annual recurring revenue (ARR) by the end of the year. At present, the company’s ARR is at $70 million, with growth driven by partnerships with Google and Microsoft, alongside additional mergers and acquisitions activities.

In other news, Rezolve AI PLC (NASDAQ:RZLV) welcomed Tether’s unveiling of its own stablecoin called USAT.

“The announcement of USAT…validates exactly what we set out to do with Tether by bringing regulated, frictionless crypto payments into mainstream commerce,” said Chairman and CEO Daniel Wagner.

“By combining AI-driven discovery with next-generation payments, we believe that Rezolve is positioned to transform how consumers shop and how merchants get paid,” he added.

3. Figure Technology Solutions, Inc. (NASDAQ:FIGR)

Figure Technology soared by 14.86 percent on Monday to close at $37.33 apiece as investors loaded portfolios ahead of the Federal Open Market Committee (FOMC) meeting this week, which is expected to see a rate cut.

At the intra-day session, the company climbed to its highest price by far of $40.39, marking an already 29.8 percent jump from its closing price of $31.11 during its market debut last Thursday.

Figure Technology Solutions, Inc. (NASDAQ:FIGR), a financial technology firm combining traditional finance and blockchain, is expected to benefit from lower interest rates on the expectation that any move from the Federal Reserve would push more borrowers to tap loans.

Optimism for the company followed its initial public offering last week, which saw it raise $787.5 million through the sale of 31.5 million shares.

Founded in 2018, Figure Technology Solutions, Inc. (NASDAQ:FIGR) leverages blockchain technology to connect lenders and borrowers of home loans.

According to its IPO documents, it funds home equity loans in just 10 days, as compared with the industry average of 42 days.

2. Energy Fuels Inc. (NYSEAmerican:UUUU)

Energy Fuels snapped a three-day losing streak on Monday to hit a new record high as investors loaded portfolios after the broader uranium sector received backing from the US government to ramp up expansion plans.

During the session, the stock soared to an all-time high of $14.12 before trimming gains to end the day just up by 15.84 percent at $13.82 apiece.

In an interview with Bloomberg, Energy Secretary Chris Wright said that the country hopes “to see rapid growth in uranium consumption in the US from both large reactors and small modular reactors.”

“The size of that right buffer would grow with time. We need a lot of domestic uranium and enrichment capacity,” he added.

Outside uranium, Energy Fuels Inc. (NYSEAmerican:UUUU) also produces rare earth elements and other critical minerals. Earlier this month, the company said that high-purity neodymium-praseodymium (NdPr) oxide, produced at its White Mesa Mill in Utah, has been manufactured into commercial scale REPMs by South Korea’s largest manufacturer of drive unit motor cores, pursuant to a previously announced MOU, and has passed all quality assurance and quality control benchmarks for use in EV drive unit motors sold to major automotive manufacturers.

The successful production of REPMs from Energy Fuels’ NdPr oxide marks a decisive breakthrough in building a “mine-to-magnet” supply chain independent of China, using rare earth oxides (REOs) produced in the United States.

1. Oklo Inc. (NYSE:OKLO)

Shares of Oklo Inc. (NYSE:OKLO) jumped to fresh record highs on Monday as investors took heart from a flurry of developments surrounding the nuclear sector.

In intra-day trading, the stock surged to a new high of $95.90 before trimming gains to close up by 15.68 percent at $95.68 apiece.

In the US, the Department of Energy has urged uranium companies to ramp up development of resources to support the expansion of nuclear power generation and fill the growing energy demand.

The announcement spelled good news for Oklo Inc. (NYSE:OKLO), which utilizes uranium resources to power its modular reactors.

Meanwhile, Oklo Inc. (NYSE:OKLO) also rallied alongside its peers after the US shook hands with the UK government to ramp up the development of the nuclear sector through the buildout of new plants and speeding up licenses for nuclear players.

Commercial agreements between US and British companies are also expected to be announced following the deal.

While we acknowledge the potential of OKLO to grow, 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 AI stock that is more promising than OKLO and that has 100x upside potential, check out our report about this cheapest AI stock.

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