Oklo and NuScale Power Rally on House Vote Targeting Data Center Energy Costs
Shares of Oklo (NYSE:OKLO) surged 13% to $40.37, while NuScale Power (NYSE:SMR) climbed 10% to $9.14 following the U.S. House's passage of the Ratepayer Protection Act. The bill requires large data centers to cover their own power generation and transmission costs rather than spreading them across utility customers. This policy shift is seen as a potential boost for small modular reactor (SMR) developers like Oklo and NuScale, which offer dedicated on-site energy solutions. The market response was concentrated in developer equities; the SPDR S&P 500 ETF Trust (SPY) rose just 1%, while uranium-focused Global X Uranium ETF (URA) gained only 4%. This suggests investors are betting more directly on reactor builders rather than broader nuclear supply chain assets. Both Oklo and NuScale remain pre-revenue, with year-to-date declines of around 36-44%. The bill still needs Senate approval to become law. While the vote is a policy tailwind for SMR developers, it has not yet translated into confirmed business inflection points or revenue generation.
Topics: data_centers nuclear_energy policy_changes stock_rally