We recently published a list of 10 Biggest Gainers of Last Week. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against other biggest gainers of last week.
Investors gobbled up shares of predominantly technology companies last week, following announcements of multi-billion dollars of investments, quantum technology backing, and new contracts, among others. Let’s take a look at last week’s Top 10 Gainers and explore the reasons behind their impressive performance.
To come up with the biggest winners of last week, we considered only the stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.
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Oklo Inc. (NYSE:OKLO)
Investors snapped up shares of Oklo last week, pushing its share prices up by 20.63 percent to end at $21.52 each from the $17.84 registered on Monday, on news that the company will power 12 gigawatts of Oklo Aurora powerhouse projects by 2044.
Oklo and Switch called the deal a “Master Power Agreement.” Both companies said they would finalize the binding agreements after achieving the project milestones.
According to Oklo CEO Jacob DeWitte, Oklo expects to benefit enormously from Switch’s record of turning visions into reality. “The lifespan of this Master Agreement will allow us to iterate and evolve with Switch, from development to deployment to scaling.”
Switch’s data centers, which power the computing requirements of various companies, are also set to benefit from the clean energy initiative.
Overall, OKLO ranks 8th on our list of biggest gainers of last week. While we acknowledge the potential of OKLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OKLO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.