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Key News Facts
Oklo (NYSE: OKLO) shares have surged 402% year-to-date as the company positions itself as a leader in next-generation nuclear energy technology aimed at meeting rising electricity demands from data centers and AI infrastructure.
The Energy Information Administration (EIA) noted a sharp increase in electricity demand post-COVID-19, driven by generative AI technologies, which require significantly more energy compared to traditional searches.
Oklo plans to build a $1.68 billion recycling facility in Tennessee to convert spent nuclear fuel into energy. The U.S. holds 94,000 metric tons of used nuclear fuel, which Oklo estimates contains energy equivalent to 1.3 trillion barrels of oil, five times the proven reserves of Saudi Arabia.
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