Key Takeaways
Nuclear energy stocks roared higher Thursday, extending gains earlier in the week as President Donald Trump's announcement of a $500 billion joint venture with Oracle ( ORCL ), OpenAI, and SoftBank to build AI infrastructure reinforced expectations of growing energy demand to support AI.
Shares of nuclear energy startup Oklo ( OKLO ), which is backed by OpenAI CEO Sam Altman, surged close to 14% Thursday and have added almost 50% this week, as reports of the project emerged Tuesday. Markets in the U.S. were closed Monday.
NuScale Power ( SMR ) shares also jumped nearly 14% Thursday, adding 32% this week. Meanwhile, Vistra ( VST ) shares climbed close to 3% Thursday and have gained 12% for the week so far.
Constellation Energy ( CEG ), which has a contract with Stargate partner and OpenAI backer Microsoft ( MSFT ), rose 4% Thursday, bringing its gains for the week to about 9%. Shares of Constellation and rival Vistra have exploded over the past year, nearly tripling and quintupling in the last 12 months, respectively.
Shares of Nano Nuclear Energy ( NNE ) jumped 17% Thursday after the company was awarded patents related to its designs for a modular transportable nuclear generator. The company is developing portable reactors designed to be used in remote locations. Its stock has climbed more than 70% so far this month.
UPDATE—Jan. 23, 2025: This article has been updated to clarify markets in the U.S. were closed Monday.
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