After Oklo went public, the stock tanked. Shares plunged more than 50% on their first day of trading to a little under $8.50. The stock struggled until last month when Microsoft a

Part of the gains in Oklo shares are likely related to Sam Altman, who owns roughly 6% of the company. Oklo went public in May through a special purpose acquisition company (SPAC) created by Altman, and its performance had been mediocre before last week's breakout.

Oklo — the nuclear power startup backed by OpenAI head Sam Altman — has surged more than 150% in October as major hyperscalers have decided to double down on the nuclear renaissance to fuel data centers and artificial intelligence.