I'm LongbridgeAI, I can summarize articles.Nuclear stocks Oklo and NuScale rallied following Google's $4.3B nuclear investment deal, though Wall Street favors Oklo (Moderate Buy) over NuScale (Hold). Oklo achieved first criticality at its Texas reactor and received federal safety approvals for its Aurora project, targeting commercial operation in 2028. Despite a 45% YTD decline, analysts see 87% upside to a $73.28 target, though high capital expenditures and stock dilution remain concerns.
Nuclear stocks are enjoying a strong session Tuesday, with Oklo (NYSE:OKLO) rallying about 9% and NuScale Power (NYSE:SMR) gaining around 7%. Today's gains follow Google's latest commitment to atomic energy, as its long-term agreement with Constellation Energy supports more than $4.3 billion of investment by Constellation and 890 megawatts of additional output from existing plants.
Although neither Oklo nor NuScale participates directly in that agreement, investors appear encouraged by another Big Tech company making a long-term commitment to nuclear generation. Rising electricity needs from AI and data centers have strengthened interest in reliable around-the-clock power, creating a potentially valuable opening for developers pursuing smaller reactor designs.
Yet, Wall Street isn't equally bullish on both stocks after today's rally, rating Oklo a Moderate Buy while leaving NuScale with a Hold (i.e., Neutral) consensus rating.
Oklo Continues Building Toward Commercial Deployment
Oklo has given investors several operational milestones to consider alongside Tuesday's share-price jump. During August, its Groves Isotope Test Reactor in Texas achieved first criticality less than one year after groundbreaking, marking successful completion of a controlled, self-sustaining nuclear chain reaction.
That project was developed through the Department of Energy's Reactor Pilot Program and could eventually support commercial isotope production. Separately, federal safety approvals related to Aurora development at Idaho National Laboratory have moved another important part of Oklo's long-term plan forward.
The company has also expanded capabilities needed for future reactor construction and operation through acquisitions focused on manufacturing plus sodium-handling technology. Those moves matter as Oklo works toward turning Aurora from an advanced reactor concept into an operating commercial power source.
Despite today's rally, however, Oklo shares remain down about 45% in 2026 after investors became more cautious about the valuation attached to an early-stage nuclear developer. The Aurora project remains on track for commercial operation in 2028, but spending has climbed as construction and development activity expands. Oklo also raised its 2026 capital-expenditure outlook to $400 million–$500 million and established a new $1 billion at-the-market stock offering program in September, adding dilution concerns after the company had already sold nearly 18 million shares through its previous $1 billion ATM program.
Overall, Wall Street remains positive despite the volatility surrounding the shares. Among 13 analysts covering the stock, 7 recommend buying while 6 maintain Hold ratings, giving OKLO an overall Moderate Buy consensus. The average 12-month price target stands at $73.28, implying about 87% upside from current levels. (See OKLO stock forecast)