The U.S. Department of Energy (DOE) selected Oklo Inc. for advanced negotiations under the Surplus Plutonium Utilization Program. This initiative converts Cold War-era surplus plutonium into fuel for next-generation nuclear reactors. Oklo will collaborate with European nuclear fuel developer newcleo on the project.
Oklo’s stock price jumped over 10% intraday before retreating from its highs. Wedbush analysts maintained an Outperform rating following the news. Goldman Sachs increased its price target for Oklo to $66 from $63.