Oklo Stock Skyrockets: Is This the Future of AI-Powered Nuclear Energy?
The value of Oklo’s stock has skyrocketed, a nuclear startup company growing in Tennessee. Within five days, the stock price increased by almost 55%, from around $85 to $132. This month, it has increased by 60%.
Oklo’s monster run reflects rising market optimism for small reactors – and their potential role in powering AI computing. But execution won’t come easily,
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Oklo Brings Biggest Job Announcement in Roane County History
Alongside a number of new nuclear companies and long-standing institutions, Oklo will arrive in Oak Ridge with a $1.68 billion investment and roughly 800 jobs. The California company plans to expand in phases, including the construction of a nuclear fuel recycling facility. It would be the first private nuclear fuel recycling facility in the United States, and the announcement was the biggest job announcement in Roane County’s history.
Oklo is currently constructing cutting-edge microreactors to produce electricity. It is currently seeking a license for a reactor at the Idaho National Laboratory, following the U.S. Nuclear Regulatory Commission’s denial of its license application in 2022. The company has received approval from the U.S. Department of Energy for a concept design of a fuel fabrication site in Idaho. The corporation is allowed to reapply in the future, according to the Nuclear Regulatory Commission.
Oak Ridge Project Paves Way for Future Microreactor and Recycling Growth
According to Jacob DeWitte, CEO of Oklo, the recycling facility will begin operations by the early 2030s. On the old K-25 property in Oak Ridge’s Heritage Park, it will go online. The Department of Energy and its cleanup contractor, United Cleanup Oak Ridge, cleaned the site for industrial use. The land will be 247 acres. The chair of Oak Ridge’s industrial development board, David Wilson, said the company’s executives are discussing the property transfer with local officials. According to a news statement from the company, the recycling facility represents the first phase of Oklo‘s objectives.
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