Oklo (NYSE:OKLO) shares continued to move higher on Tuesday, after the US federal government announced a $2.7 billion program to expand domestic uranium-enrichment capacity.
Shares added almost 3% at about $91, building on an almost 15% surge on Monday. The stock has surged 205% in the last 12 months.
The government's funding initiative, aimed at high-assay low-enriched uranium (HALEU), is expected to directly support developers like Oklo, whose Aurora Powerhouse reactors require HALEU to operate. Fuel supply constraints have previously slowed the company’s development timelines.
Oklo currently holds fuel supply contracts with the Department of Energy, but its first reactor still awaits regulatory approval. The company’s reliance on a reliable HALEU supply has been identified by management as a key operational risk, making the government’s investment a potential catalyst for future project development.
In addition, a House subcommittee has announced hearings on nuclear industry licensing and deployment, further signaling increased federal attention on advanced nuclear technologies.
The Energy Department’s announcement follows a broader surge in nuclear stocks, fueled by geopolitical uncertainties including recent developments in Venezuela.