Nuclear Stocks Oklo, Nano Nuclear, Constellation Energy Surge In Friday Pre-Market: What's Going On?

Sam Altman-backed Oklo Inc. OKLO and Nano Nuclear Energy Inc. surged 19.79% and 17.34%, respectively, while nuclear utilities like Constellation Energy Corp CEG and GE Vernova Inc. GEV climbed 5.27% and 2.87%, each, during the pre-market trading session on Friday ahead of President Donald Trump‘s reported signing of executive orders aimed at revitalizing the U.S. nuclear energy industry.

What Happened: The news of the impending executive orders has caused a surge in nuclear energy stocks. The orders, expected to be signed on Friday, will focus on expediting the regulatory procedure for new reactor approvals and strengthening fuel supply chains, as per Reuters.

These actions are reportedly in response to surging power demand fueled by the artificial intelligence boom. They also aim to reduce U.S. dependence on Russia and China for enriched uranium and other nuclear materials, invoking the Cold War-era Defense Production Act to declare a national emergency.

Trump’s Energy Secretary, Chris Wright, has likened the urgency of developing data centers and power sources for AI to the “Manhattan Project 2,” a reference to the U.S.’s WWII program to develop atomic bombs.

The orders will instruct federal agencies to pinpoint sites and facilities suitable for nuclear deployment, simplify approval procedures and promote the use of loan guarantees and direct loans by the Energy Department to accelerate reactor construction.

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Why It Matters: The potential resurgence of the U.S. nuclear industry has been a topic of discussion. Earlier this week, Cathie Wood’s Ark Invest suggested that nuclear energy could become the cheapest power source, potentially overtaking solar. This prediction was based on the promise of reliable baseload energy offered by nuclear power, which had been overshadowed by rising costs.

The Trump administration considered four draft executive orders aimed at promoting nuclear power by expanding its authority to approve reactors and reforming the Nuclear Regulatory Commission. These executive orders, if implemented, could potentially reshape the energy landscape and have a significant impact on the global energy market., stated Reuters.

The United States, the pioneer and current leader in nuclear power capacity, is now being outpaced by China in the rapid growth of this energy source. That being said, nuclear power generates radioactive waste and the United States currently lacks a permanent repository to store it.