Updated 1 min read
What happened: Oklo (OKLO) slipped into negative territory after rising more than 3% on Friday. Still, the stock was on pace to close out the week with gains of more than 10%.
What’s behind the move: The gains come after the company announced on Thursday a partnership with chipmaker Nvidia (NVDA) and Los Alamos National Laboratory to work on next-generation nuclear power.
The initiative will use AI and advanced computer simulations to design and improve nuclear reactors and fuel. Oklo added to gains from the prior session when HSBC initiated coverage of the stock with a Buy rating.
What else you need to know: Oklo has been a beneficiary of government initiatives to speed up nuclear power development. Earlier this month, the White House released guidance for faster development of nuclear power systems to be used in space missions.
The plan focuses on building small nuclear reactors that could power lunar bases and eventually support crewed missions to Mars. The aim is to launch the first nuclear reactor in space in December 2028, while a moon-based reactor is anticipated for 2030.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
Click here for an in-depth analysis of the latest stock market news and events moving stock prices
Read the latest financial and business news from Yahoo Finance
