Oklo Inc. (NYSE: OKLO) shares surged 10% on Tuesday following a significant development in the company’s efforts to build its first commercial nuclear powerhouse. The advanced nuclear energy firm announced the completion of a critical site characterization phase at the Idaho National Laboratory, marking a major step forward in its Aurora reactor project.
The company successfully finished drilling several boreholes at the site, a vital process to assess ground conditions and ensure the location meets stringent safety and engineering standards. This data will support Oklo’s upcoming Combined License Application (COLA) to the U.S. Nuclear Regulatory Commission, an essential regulatory step before construction can begin.
Oklo’s CEO Jacob DeWitte described the milestone as a “key achievement” that demonstrates the company’s progress toward delivering clean, reliable nuclear power. The Aurora reactor, designed to generate up to 75 megawatts, targets high-demand customers such as data centres and industrial facilities seeking carbon-free energy solutions.
Investor confidence responded swiftly, pushing Oklo’s stock price higher amid growing optimism about the company’s future prospects. The firm recently secured a landmark 12-gigawatt, 20-year power purchase agreement with data centre operator Switch, underscoring strong market interest in its technology.
Despite operating losses and the challenges typical of pioneering advanced nuclear projects, Oklo’s innovative reactor design and strategic partnerships have attracted attention as the energy sector increasingly focuses on sustainable alternatives to fossil fuels.
This development at Idaho National Laboratory represents a critical juncture for Oklo and the broader nuclear industry. As governments and businesses worldwide accelerate efforts to reduce carbon emissions, Oklo’s progress could pave the way for wider adoption of small modular reactors. While regulatory approvals and further funding remain hurdles, the company’s recent achievements have reinforced its position as a promising player in the clean energy transition.
Oklo’s stock rally on Tuesday reflects growing investor enthusiasm as the company moves closer to realising its vision of next-generation nuclear power.
