A developer of advanced nuclear systems backed by Sam Altman has more than doubled in value this week as investors rushed to pile into companies associated with the power industry.
Bailey Lipschultz, Bloomberg NewsAfter years out of favour, nuclear power is ramping up again around the world, including Canada. Amanda Lang speaks with John Gorman, the head of the Canadian Nuclear Association, and Jeff Binns with the Nuclear Waste Management Organization for an update on what is driving the demand, and what the plans are to handle the relatively small amount of waste it will produce.
Shares of Oklo Inc., which went public in May after merging with a blank-check company sponsored by the OpenAI chief executive and serial dealmaker Michael Klein, have spiked 115% to a record $19.72 this week. The gains come as Amazon.com Inc., billionaire financier Ken Griffin, and Alphabet Inc.’s Google unveiled investments in next-generation nuclear energy firms.
Santa Clara, California-based Oklo is benefiting from the surge in artificial intelligence and other computing that’s driving a boom in power-hungry data centers and helping to boost demand for electricity for the first time in decades. However, Oklo is still years away from having a functional operating reactor, something it had said would likely be in service before the end of the decade.
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