Altman-Backed Nuclear Stock Doubles in Value on AI Power Demand
- Oklo’s market capitalization has soared past $2.4 billion
- Shares have been volatile since SPAC merger closed in May
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A developer of advanced nuclear systems backed by Sam Altman has more than doubled in value this week as investors rushed to pile into companies associated with the power industry.
Shares of Oklo Inc., which went public in May after merging with a blank-check company sponsored by the OpenAI chief executive and serial dealmaker Michael Klein, have spiked 115% to a record $19.72 this week. The gains come as Amazon.com Inc., billionaire financier Ken Griffin, and Alphabet Inc.’s Google unveiled investments in next-generation nuclear energy firms.