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Oklo (OKLO) stock is up 5% in early trading Tuesday, recovering from a 16.82% year-to-date decline as nuclear energy stocks draw renewed interest from investors focused on AI data center power demand.
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NuScale Power (SMR) stock is rising 3%, joining Oklo in a sector-wide lift as small modular reactor plays attract fresh attention from both institutional and retail investors.
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Both companies remain pre-commercial development-stage businesses, meaning today’s moves are driven by sentiment and macro tailwinds rather than earnings momentum.
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Oklo (NYSE:OKLO) stock advanced 5% Tuesday morning, with shares testing the $63 level after closing Monday at $59.69. In a more muted move, NuScale Power (NYSE:SMR) stock rose 3% with shares moving toward $12.50 after previously closing at $11.97.
The moves come as nuclear energy broadly draws fresh investor attention, with AI-driven data center power demand and bipartisan U.S. government support for clean baseload energy serving as the dominant tailwinds. Both companies sit at the intersection of two of the market’s most active themes right now: clean energy infrastructure and the AI power buildout.
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Neither catalyst is new, but the market’s appetite for the story keeps cycling back.
The backdrop driving today’s move is well established. Goldman Sachs projects a 165% increase in data center power demand by 2030, and nuclear is increasingly viewed as the only clean energy source capable of delivering the kind of firm, always-on baseload power that hyperscalers actually need.
Solar and wind can’t do it alone, and natural gas carries carbon baggage. Nuclear is the answer a growing number of tech companies are arriving at.
Oklo has positioned itself directly in that conversation. The company has a customer pipeline of approximately 14 gigawatts, anchored by a landmark 12 gigawatt agreement with Switch for data center power and a letter of intent with Equinix for 500 megawatts with a $25 million pre-payment.
A recent Reddit due diligence post on r/wallstreetbets also flagged a Meta partnership for a 1.2 gigawatt Nuclear Energy Development agreement in Southern Ohio and an expanded pipeline of 18 gigawatts of memorandums of understanding as key signals that the MOU-to-contract conversion story is gaining traction.
