Oklo (OKLO) Climbs 6% on Siemens Partnership

We recently published 10 Stocks Beating Wall Street at its Own Game. Oklo Inc. (NYSE:OKLO) is one of the best-performing stocks on Wednesday.

Oklo rallied for a second day on Wednesday, jumping 6.45 percent to close at $102.86 apiece as investors took heart from its recent partnership with Siemens Energy to accelerate the deployment of Aurora powerhouses.

In a statement, Oklo Inc. (NYSE:OKLO) said it tapped Siemens Energy to begin engineering and design for a condensing SST-600 steam turbine, an SGen-100A industrial generator, and associated auxiliaries to support its Aurora powerhouse at Idaho National Laboratory (INL).

The power conversion system represents one of the major long-lead procurements required to commence power operations of the Aurora powerhouse.

Oklo (OKLO) Climbs 6% on Siemens Partnership

Sergey Nivens/shutterstock.com

In other news, Oklo Inc. (NYSE:OKLO) recently announced the results of its earnings performance for the third quarter of the year. During the period, the company widened its net loss by nearly 200 percent to $29.7 million from $9.96 million in the same period last year.

Operating loss also grew by 195.6 percent to $36.3 million from $12.28 million year-on-year.

“Aurora’s inherent safety allows us to use proven, commercially available power systems like Siemens Energy’s turbine technology. That design philosophy shortens timelines, lowers costs, and turns advanced nuclear into a deployable product. We believe this is a historic step forward for the advanced nuclear industry—a real-world purchase that demonstrates progress toward deployment and operation,” said Oklo Inc. (NYSE:OKLO) Chief Product Officer Alex Renner.

While we acknowledge the risk and potential of OKLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OKLO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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