Oklo surges 13% after House vote on data center power

Shares of Oklo rose 13% to $40.37 in Thursday morning trading on 17 September. The move followed a near-unanimous vote in the U.S. House of Representatives to pass the Ratepayer Protection Act.

The bill would require large data centers to pay for the power generation and grid transmission upgrades required by their electricity demand, rather than spreading those expenses across utility customers. It has passed one chamber and still requires approval from the Senate. Sector peer NuScale Power gained 10% to $9.14, while the Global X Uranium ETF rose 4% to $42.92 and the SPDR S&P 500 ETF Trust advanced 1% to $762.04.

The market reaction focused on small modular reactor developers that offer dedicated power generation to large consumers. However, Oklo remains pre-revenue in its core business and does not target first commercial power delivery until late 2027 to early 2028. The next planned operational milestone for the developer is progress on its combined license application with the U.S. Nuclear Regulatory Commission.

Despite the single-day gain, Oklo shares remain down 44% year to date. NuScale Power shares are down 36% year to date and trade near their 50-day moving average of $9.06.