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Oklo, NuScale and Centrus Energy Hit New Records as Next-Generation Nuclear Firms Extend Rally

Oklo, NuScale and Centrus Energy all hit new intraday records Friday as stocks tied to next-generation nuclear power rallied on recent moves by Microsoft, Amazon and Alphabet to secure nuclear energy for their cloud-computing businesses.

$Oklo Inc (OKLO.US)$ rallied as much as 31.2% to a $20.64 record intraday high, while $Centrus Energy (LEU.US)$ rose 17.7% to a $95.37 all-time peak and $NuScale Power (SMR.US)$ added 12.9% to a $20.35 all-time top.

$NANO Nuclear Energy Inc.(NNE)$ also gained as much as 22% to a $22.85 session high, although that fell well short of the company's $37.51 record set last summer. 

The stocks have been rising following word this week from first $Alphabet(GOOGL)$   and then $Amazon.com(AMZN)$   of deals to invest in next-generation nuclear reactors or purchase electricity from them for cloud computing, which requires lots of energy.

Although neither Amazon nor Alphabet signed deals with any of the companies that rallied Friday, the stocks gained ground anyway on apparent investor enthusiasm for the sector in general.

Amazon and Alphabet's moves followed a deal last month in which $Constellation Energy Corp(CEG)$   will restart Pennsylvania's Three Mile Island Unit 1 nuclear reactor and sell electricity to $Microsoft(MSFT)$   for cloud-computing operations.

TMI-1 closed in 2019, while its sister reactor TMI-2 suffered a partial meltdown in 1979 and never reopened following the worst U.S. nuclear accident on record.

The TMI-2 accident turned public opinion sharply against nuclear energy and halted new orders for U.S. nuclear-power plants for decades.

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