Oklo Stock Is Hitting New Highs Wednesday: What's Powering The Move?

Oklo Inc OKLO shares are surging Wednesday after the company was selected as an intended awardee to provide power at an Air Force base in Alaska.

What To Know: Oklo said it was issued a Notice of Intent to Award by the Defense Logistics Agency Energy, on behalf of the Department of the Air Force and the Department of Defense, to deploy one of its planned Aurora powerhouses at an Air Force installation.

Under terms of the expected agreement, Oklo would own and operate the powerhouse, which would deliver electricity and heat to the Eielson Air Force Base in Alaska under a long-term power purchase agreement.

“This Notice of Intent to Award reflects continued confidence in Oklo’s ability to deliver clean and secure energy solutions for mission-critical infrastructure,” said Jacob DeWitte, co-Founder and CEO of Oklo.

“We are honored to support national defense resilience objectives while demonstrating the value of U.S.-pioneered fast reactor technology.”

Oklo is planning to be able to deploy its first nuclear powerhouse in late 2027 or early 2028. DeWitte said last month that timelines could potentially be accelerated after President Donald Trump signed multiple executive orders aimed at supporting the domestic nuclear industry.

On Tuesday, Oklo announced that the U.S. Nuclear Regulatory Commission initiated a review of its licensed operator topical report as the company continues to progress on its combined license application seeking approval to operate its planned Aurora powerhouses.

OKLO Price Action: Oklo shares are now up nearly 210% since the start of the year. The stock was up 24.8% at $65.58 at the time of publication Wednesday, per Benzinga Pro.

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Photo: courtesy of Oklo.