Elon Musk Could Help Oklo's Stock Price Soar. Here's Why.
Key PointsAI companies desperately need more energy to power data centers.
Elon Musk, the CEO of Space Exploration Technologies (SPCX), recently expressed his energy needs for scaling SpaceX's artificial intelligence infrastructure. Musk stated during SpaceX's investor call on August 11 that they aim to have 20 gigawatts of power and cooling online by the end of the following year. Although Musk believes they may not achieve the target, they expect to have around 15 gigawatts of projects in operation by then, assuming some projects take longer than anticipated.
This comment from Musk could potentially benefit Oklo (NYSE: OKLO), a nuclear energy developer with no direct connection to space or AI. The mention of gigawatts of power required for AI infrastructure might inadvertently highlight the growing demand for nuclear energy, a sector where Oklo operates. As a result, Oklo's stock price could experience an upward trend, as investors might perceive the increased focus on energy requirements as a positive sign for the industry.
Written by urgent.news from Motley Fool's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.