Why These Energy Stocks Are Gaining This Week

2. Oklo Inc. (NYSE:OKLO)

Share Price Gains Between May 22 – May 29: 33.26%

Backed by OpenAI’s Sam Altman, Oklo Inc. (NYSE:OKLO) develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the United States.

The share price of Oklo Inc. (NYSE:OKLO) gained this week after investors reacted positively to President Trump signing an executive order to boost the country’s nuclear sector by cutting down on regulations and fast-tracking new licenses for reactors and power plants. The strategic move is aimed at quadrupling America’s nuclear energy production and ensuring that there is enough power available for the country’s AI boom and its accompanying data centers.

The order has placed special attention on small modular reactors, or SMRs, known for their affordability, versatility, and shorter construction timespan. This presents a significant opportunity for operators like Oklo Inc. (NYSE:OKLO), as the company’s Aurora Powerhouse, capable of holding up to 75 MW, is well-suited to meet the needs of large-scale data operators without the necessity for design alterations.

Moreover, it was revealed this week that Oklo Inc. (NYSE:OKLO) has signed an MoU with Korea Hydro & Nuclear Power to promote collaboration on the development of SMR technology. The two companies plan to collaborate on the standard design development and licensing strategy for Oklo’s planned Aurora powerhouse.