Oklo (NYSE: OKLO) stock received a price target increase on Wednesday, June 12, as Wedbush Securities analyst Daniel Ives lifted his outlook to $75 from $55 while maintaining an Outperform rating. The analyst cited the Trump Administration’s increased focus on using nuclear energy to power AI datacenter buildout.
The upgrade comes on the heels of a stunning rally that saw Oklo shares surge 41.32% over the past five days and 211.35% year-to-date, hitting a fresh all-time intraday high of $68.24 on Wednesday after announcing it won an Air Force contract to provide nuclear energy to the Eielson Air Force Base in Alaska.
Air Force contract marks DoD expansion
Oklo announced it received a Notice of Intent to Award from the Defense Logistics Agency Energy to provide reliable nuclear power to the Eielson Air Force Base. The company will design, construct, own, and operate the power plant, delivering electricity and heat using its Aurora powerhouse design that can operate independently from the grid.
Ives noted this represents the first step in the Department of Defence (DoD) taking a large role in ordering reactors from Oklo and installing them on military bases. The U.S. DoD has set a goal of quadrupling the nuclear power plant fleet to 400 GW of electric capacity by 2050 from the current ~100 GW level.
AI demand drives nuclear
Ives said the AI revolution is driving significant demand for clean energy to power AI initiatives, with necessary computing power expected to grow 10x by 2030. The analyst views Oklo’s build, own, and operate business model as providing long-term recurring revenues and a streamlined regulatory pathway.
The rally follows President Trump signing executive orders in May to accelerate the U.S. nuclear energy industry by easing the regulatory process for new reactors and strengthening fuel supply chains. Oklo CEO Jacob DeWitte was present when the orders were signed.
Ives included Oklo in his ‘Ives AI 30’ list, calling it:
“a clear leader on the nuclear front that is just starting to play out.”
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