After plunging 31% during the first three months of 2026, shares of Oklo (OKLO 9.82%) staged a stunning rebound in April, soaring 46.2% according to data provided by S&P Global Market Intelligence. The explosive rally not only erased all of the stock’s earlier losses but also pushed Oklo back into positive territory for the year.
April was an eventful month, with Oklo announcing a high-profile collaboration, winning analyst upgrades, and riding a broader surge in nuclear energy stocks after the White House launched a massive nuclear power program. Analysts at HSBC even initiated a buy rating on Oklo stock in April with a price target of $96 per share, representing over 30% upside potential.
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What’s happening with Oklo?
The biggest company-specific catalyst for Oklo in April was a three-way collaboration between Oklo, Nvidia, and Los Alamos National Laboratory (LANL).
Oklo is developing fast fission nuclear power plants called Aurora powerhouses to deliver clean energy at scale. Nvidia will provide its artificial intelligence (AI) computing power and software tools to help Oklo and LANL speed up nuclear fuel research and reactor development.
Investors viewed the deal as a major vote of confidence in Oklo from one of the world’s most influential AI companies, especially as demand for nuclear-powered AI infrastructure continues to gain momentum.
Days prior to this announcement, the White House launched the National Initiative for American Space Nuclear Power on April 14, formally making space nuclear reactors a national strategic priority. The initiative directs NASA and the Department of Defense to work jointly with private companies to deploy nuclear reactors in orbit by as early as 2028 and on the moon by 2030.
Oklo’s technology overlaps with some of the themes of the government’s initiative, including fast-fission reactors and fuel infrastructure. Beyond reactor development, Oklo is also building nuclear fuel recycling facilities and is already involved in multiple Department of Energy (DOE) nuclear pilot programs.
Today’s Change
(-9.82%) $-7.82
Current Price
$71.80
Key Data Points
Market Cap
$12B
Day’s Range
$70.87 – $79.50
52wk Range
$26.16 – $193.84
Volume
8.9K
Avg Vol
11M
Adding to the bullish momentum, the U.K. government announced the same day (April 14) that it would back Rolls-Royce‘s small modular reactor program with up to 599 million pounds ($800 million). The announcement sparked a broad rally in nuclear energy stocks, as investors saw it as another strong signal that governments worldwide are increasingly keen to deploy nuclear power.
Will Oklo stock jump after May 12?
Oklo will release its first-quarter earnings after market close on May 12. Numbers matter little at this point, since Oklo is still a pre-revenue, development-stage company and still years away from commercialization. Instead, pay close attention to Oklo’s cash position, progress on regulatory and reactor-development milestones, and 2026 goals.
One key target under the DOE’s program is achieving criticality at the Aurora-INL and Groves isotope projects by July 4, 2026. Management’s commentary on May 12 could play a major role in determining whether the stock’s momentum continues after April’s explosive rally or begins to cool.
HSBC Holdings is an advertising partner of Motley Fool Money. Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool recommends HSBC Holdings and Rolls-Royce Plc. The Motley Fool has a disclosure policy.