What's going on with Oklo stock on Tuesday? -Oklo (NYSE:OKLO)

Oklo Inc OKLO Shares are trading higher on Monday's continued momentum from the Google nuclear deal. The company announced Tuesday that the U.S. Department of Energy has approved a design report for its Aurora fuel plant.

What happened: Oklo and several nuclear stocks saw gains in afternoon trading Monday Alphabet Inc GOOG GOOGL announced plans to buy power from a small modular reactor developer Kairos power.

Google said it expects to have its first reactor operational by 2030, with additional reactors to follow by 2035. Google's nuclear strategy comes as major technology companies increasingly turn to nuclear energy to meet the increasing energy needs of data centers associated with the AI ​​boom.

“We believe nuclear energy plays a critical role in supporting our clean growth and contributing to the advancement of AI,” he said Michael TerrellSenior Director of Energy and Climate at Google.

“The power grid needs clean, reliable energy sources that can support the expansion of these technologies. We believe that nuclear power can play an important role in meeting our needs, in some ways in meeting our needs cleanly, which is more like 24/7.”

Oklo shares closed up nearly 10% on Monday after rising sharply at the close. The stock continued to rise in the after-hours session and held on to some gains into Tuesday's trading session.

See also: Nvidia CEO Jensen Huang Backs Nuclear Energy to Power the Future of AI: 3 Stocks to Watch

Oklo announced Tuesday that the U.S. Department of Energy (DOE) has approved the Conceptual Safety Design Report for the Aurora Fuel Fabrication Facility at the Idaho National Laboratory.

Oklo said the plant will use high-percentage, low-enriched uranium recovered from used fuel from the Experimental Breeder Reactor-II.

“Oklo is uniquely positioned to support the first deployment of its Aurora power plant with an assured fuel supply, site use permit, significant regulatory access and supply chain development,” he said Jacob DeWitteCo-founder and CEO of Oklo.

The next steps in DOE's comprehensive review process include the preliminary documented preconstruction safety analysis and the postconstruction and commissioning documented safety analysis.

OKLO price promotion: According to Benzinga Pro, Oklo shares were up 4.68% at $10.50 at the time of publication.

This illustration was created using artificial intelligence via Midjourney.