Oklo shares rally for third straight day with tech focus on nuclear power
** Shares in Oklo Inc OKLO.N, a nuclear power startup backed by OpenAI CEO Sam Altman, soar >40% on Weds, eyeing their third straight day of gains and setting a record high since co's May debut
** Nuclear power companies have seen a surge of investor interest recently as tech co's seek new sources of energy for data centers supporting technologies including artificial intelligence (AI)
** On Tues, OKLO CEO told CNBC in an interview that "power demand numbers frankly are mind blowing" and a huge opportunity
** OKLO, which aims to develop its first small modular nuclear reactor by 2027, saw its shares gain 16% on Tues. It also announced the U.S. Department of Energy (DOE) approved a conceptual safety design report for its Aurora Fuel Fabrication Facility at Idaho National Laboratory
** On Weds, Amazon.com AMZN.O said it signed three agreements including one with Dominion Energy D.N on developing small modular nuclear reactors, becoming the latest big tech company to push for new electricity sources
** On Mon, Alphabet's GOOGL.O Google said it signed the world's first corporate agreement to buy power from multiple small modular reactors to meet electricity demand for AI
** OKLO's shares last traded at $15.72 after rising as high as $16.77 on the session. The stock has nearly doubled since its $8.45 close on the day of its public listing on May 10 after a SPAC merger with AltC Acquisition Corp
** Short interest in the shares has climbed roughly 50% since end-Jun and stood at ~11% of public float as of Sept 30, LSEG data shows
(Reporting By Sinéad Carew)
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