Why These Energy Stocks are Gaining This Week

2. Oklo Inc. (NYSE:OKLO)

Share Price Gains Between Sep 9 – Sep 16: 29.55%

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.

Oklo Inc. (NYSE:OKLO) hit an all-time high this week after the company announced plans to design, build, and operate a facility in Tennessee to recycle used nuclear fuel into fuel for fast reactors like the company’s own Aurora powerhouse. The ambitious project is expected to cost $1.68 billion and will be the first of its kind in the United States.

Oklo Inc. (NYSE:OKLO) revealed that it has already completed a licensing project for the facility with the Nuclear Regulatory Commission and is currently in pre-application engagement with the regulator’s staff. The facility is anticipated to begin producing fuel for the company’s SMRs by the early 2030s.