Following the non-binding master power agreement announcement with Switch, Oklo (OKLO, Financial) stock was up 7.17% in premarket trading and extended gains to over 10% early Wednesday. Switch is a leading technological infrastructure company, that specializes in artificial intelligence, cloud, and corporate data centers.
Plans for using up to 12 gigawatts of Oklo's Aurora powerhouse projects over 2044 are laid out in the agreement. As project benchmarks are completed, individual binding agreements are expected.
"We are thrilled to work with Switch on this historic agreement," stated CEO Jacob DeWitte of Oklo. For Oklo, the cooperation signals a major turning point since it seeks to market its innovative nuclear technology to satisfy energy consumption. As investors responded favorably to the scale and promise of the partnership, shares shot higher. Moreover, its important to note that OKLO stock has been on a superb run over the past six months, gaining upwards of 123%, beating the broader-market gains of around 11%.
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