Key Points
Oklo received a key approval from the Nuclear Regulatory Commission.
Nano Nuclear Energy is exploring nuclear energy solutions for Super Micro Computer's data centers.
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It's been a strong start to May for advanced nuclear reactor stock Oklo (NYSE: OKLO). Shares have been rising during this, the first full week of trading in May, thanks to the company's progress toward regulatory approval of its Aurora powerhouse. But it's not only company news that's driving investors to bid the stock higher. A nuclear energy peer's announcement from this week is also contributing to investors' interest in Oklo.
According to data provided by S&P Global Market Intelligence, Oklo stock has risen 2.8% from the end of trading last Friday through 2:42 p.m. ET today.
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There's gleaming news from The Gem State
Oklo informed investors yesterday that the U.S. Nuclear Regulatory Commission (NRC) has approved the Principal Design Criteria (PDC) topical report for the Aurora powerhouse, which the company is developing in Idaho.
According to Oklo, the approval means that the PDC topical report can now "be referenced in future applications and reduces the need to rereview established material" -- a development that should expedite the future processing of licensing applications for the Aurora powerhouse project.
It's not only company news that has investors charged up this week. Advanced nuclear reactor peer Nano Nuclear Energy (NASDAQ: NNE) reported that it has signed a memorandum of understanding with Super Micro Computer (NASDAQ: SMCI) to explore the deployment of Nano Nuclear Energy's nuclear microreactors to support Super Micro Computer's data center infrastructure.
What's an investor to do now?
Unsurprisingly, Oklo stock jumped on news that the NRC has approved the PDC topical report. President Trump's issuance of executive orders last May to spur the development of the nuclear energy industry is yielding tangible results, suggesting that licensing advanced nuclear reactors may be less arduous than previously thought.
Similarly, Nano Nuclear Energy's news is an understandable catalyst for Oklo's stock rising higher as it suggests that data center operators' interest in nuclear energy remains steadfast, a green flag for companies like Oklo.
Despite the news this week, Oklo remains a high-risk investment, so investors should invest accordingly.
Should you buy stock in Oklo right now?
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
