Shares of Oklo (OKLO) soared by double digits for the second day in a row Wednesday after the nuclear tech💮nology company announced “a significant step forward” in constructing its first nuclea🐷r power plant. 

Oklo shares soared as much as ꦜ22% in early🌠 trading on Wednesday before pulling back to trade up about 20%. The stock has risen more than 30% this week. 

Shares jumped nearly 11% yesterday after the company said it had “completed borehole drilling for site characterization work” at a site in Idaho, where it is exploring building its first fast-fission nuclear plant. Oklo, in its first-quarter earnings report released Tuesday, said it aimed to begin operations at the plant by late 2027 or early 2028.

Oklo, which generated no revenue in the quarter, reported an operating loss of $17.9 million, a 142% increase year over year. About $4 million in investment income and a $4 million income tax benefit helped narrow the company’s net loss to $9.8 millio﷽n from $24 million ♚a year ago.

Demand for nuclear energy is soaring as tech giants bring online data centers that demand massive amounts of electricity to train and run artificial intelligence. Leading AI and cloud providers such as 澳洲幸运5官方开奖结果体彩网:Microsoft (MSFT), Amazon (AMZN), and Meta (META) have committed to investing in nuclear energy as they seek low-car𝄹bon, e🅷fficient power sources. 

Nuclear power providers like Oklo, Constellation Energy Group (CEG), Vistra (VST), and NuScale Power (SMR) have been among the biggest winners in Wall Stre💯et’s AI craze. Shares of Constellation and Vistra have risen 31% and 68%, respectively, in the last 12 months. Oklo and NuScale, two smaller players, have seen their stocks triple in value over that period.