NEW YORK — Oklo Inc. shares jumped more than 8% Tuesday, climbing to around $58 as investors piled into the advanced nuclear company amid surging electricity demand from artificial intelligence data centers and fresh regulatory progress on its small modular reactor technology.

The stock, which trades under the ticker OKLO on the New York Stock Exchange, rose as much as 8.23% intraday to $58.38 before settling near those levels. That gain came on solid volume and reflected renewed enthusiasm for nuclear energy plays positioned to power the AI revolution.

Oklo, co-founded by OpenAI CEO Sam Altman among others, develops fast-fission reactors designed to generate clean, reliable baseload power. The company remains pre-revenue but has secured high-profile partnerships and billions in cash to fund its ambitious pipeline.

A landmark agreement with Meta Platforms announced earlier this year calls for Oklo to develop a 1.2-gigawatt nuclear energy campus in southern Ohio. Meta agreed to prepay for power to support its AI data centers, accelerating construction timelines with the first phase eyed for 2030. The deal validated Oklo’s technology and provided critical funding while highlighting how tech giants are turning to nuclear to meet exploding energy needs.

Analysts estimate global data center power demand could drive trillions in infrastructure spending. Traditional sources like natural gas and renewables may fall short on reliability and scale, positioning advanced nuclear as a key solution. Oklo’s Aurora powerhouse design aims to deliver compact, factory-built reactors that can run on recycled nuclear fuel, reducing waste and proliferation risks.

Regulatory momentum has added fuel to the rally. In March, Oklo announced key approvals from the Department of Energy and Nuclear Regulatory Commission across its power, fuel and isotopes businesses. The DOE granted a Nuclear Safety Design Agreement for the Aurora project at Idaho National Laboratory, clearing a pathway for the first-of-a-kind facility.

Oklo’s subsidiary Atomic Alchemy also received DOE backing for its Groves Isotopes Test Reactor in Texas, targeting first criticality as early as July 4, 2026, under a federal pilot program. The initiative seeks to bolster domestic production of medical and industrial radioisotopes, reducing U.S. reliance on foreign supplies.

The company expanded its partnership with Sweden’s Blykalla in late March to collaborate on fast reactor commercialization, including potential U.S. investment and technology sharing. CEO Jacob DeWitte’s appointment to the President’s Council of Advisors on Science and Technology in March further signaled high-level government support for next-generation nuclear under the current administration’s pro-energy policies.

Financially, Oklo ended 2025 with about $1.4 billion in cash and marketable securities. It raised an additional $1.182 billion net proceeds in early 2026 by completing a $1.5 billion at-the-market equity program, leaving the company well-capitalized. Management guided 2026 operating cash use at $80 million to $100 million and investing cash use at $350 million to $450 million to advance multiple projects.

The company reported a narrowed net loss for full-year 2025, though it remains deeply unprofitable as it invests heavily in development. Next quarterly results are expected around May 12. Wall Street maintains a generally bullish consensus, with an average price target around $84 to $101, implying significant upside from current levels despite recent volatility and some downward revisions to targets earlier this year.

Shares have been volatile. Oklo soared dramatically in 2025 on nuclear hype tied to AI and policy tailwinds, hitting highs near $194 before pulling back sharply amid profit-taking, insider sales and broader market rotations. Year-to-date performance in 2026 has been mixed, but the stock still shows strong gains over longer periods amid sector enthusiasm.

Cathie Wood’s ARK funds have bought dips in Oklo, signaling long-term conviction from prominent growth investors. However, some analysts have tempered forecasts, citing execution risks, long timelines to first revenue and the capital-intensive nature of nuclear projects. Recent insider selling by executives and directors totaling millions of dollars also drew attention, though such transactions are common in growth companies.

Oklo’s business spans three pillars: power generation via Aurora reactors, fuel recycling and isotope production through Atomic Alchemy. The strategy leverages recycled nuclear fuel to create a more sustainable fuel cycle while addressing medical isotope shortages.

Broader tailwinds include bipartisan interest in expanding nuclear capacity. New England governors have explored advanced nuclear, and federal initiatives aim to streamline licensing and boost domestic uranium enrichment. Surging oil prices and geopolitical energy tensions have further spotlighted nuclear as a secure, carbon-free option.

Challenges remain. Nuclear projects historically face delays and cost overruns. Oklo must navigate complex licensing, secure supply chains and demonstrate its fast reactor technology at scale. First commercial power from the Ohio project is not expected until the end of the decade, meaning investors are betting on long-term potential rather than near-term profits.

Still, sentiment around AI-driven power demand has kept nuclear stocks in focus. Comparisons with peers like NuScale Power highlight a competitive but expanding field. Oklo differentiates itself with its fuel-agnostic fast reactors and integrated approach across power, fuel and isotopes.

As earnings approach, investors will watch for updates on the Meta project, Idaho and Texas initiatives, and any new commercial deals. Positive pipeline news or accelerated timelines could reignite momentum, while delays or funding surprises might pressure shares.

Oklo’s market capitalization hovers near $9 billion, modest compared to the potential addressable market in a $10 trillion nuclear renaissance, according to some analysts. Success in hitting DOE pilot milestones this year could serve as major de-risking events.

The company continues to emphasize its mission: delivering clean, affordable, always-on power to support economic growth and decarbonization. With AI transforming industries and electricity consumption forecast to rise sharply, Oklo positions itself at the intersection of technology and energy innovation.

Whether the latest surge marks the start of a sustained rebound or another volatile chapter remains to be seen. For now, investors appear optimistic that Oklo’s regulatory wins, big-tech partnerships and strong balance sheet will translate into tangible progress in the months ahead.

The nuclear sector’s resurgence reflects a pragmatic shift in energy policy and investment priorities. As data centers proliferate and nations seek energy security, companies like Oklo could play a pivotal role — if they can execute amid technical, regulatory and financial hurdles.

Apple is closing a trio of Apple Store locations around the country, including the first location of the tech giant’s retail system to unionize.

The company told The Baltimore Sun on Thursday that it will close Apple Stores in Towson, Maryland, Trumbull, Connecticut, and Escondido, California, with the final closures slated for June 11.

The Towson location was Apple’s first unionized Apple Store branch, with workers at that location having done so in 2022.

“As we continue investing to expand and enhance our retail stores and offerings worldwide, we remain deliberate about evaluating our existing locations to ensure that we can meet our customers’ needs in the best way,” Apple told the Sun. 

APPLE RETIRES WELL-KNOWN PRODUCT AFTER 20 YEARS AS IT SHIFTS STRATEGY

Apple is closing three Apple Store locations around the country. (Eric Thayer/Bloomberg via Getty Images)

Apple added that the “difficult” decision was made after the “departure of several retailers and declining conditions” at the malls where the impacted stores are located.

Benzinga reported that Apple employees at the Trumbull and Escondido locations are being transferred to other nearby locations, whereas the Towson workers were offered the opportunity to apply for open roles with Apple. 

APPLE UNVEILS LOWER COST IPHONE 17E, RAISES PRICES ON MACBOOKS

The company said the collective bargaining agreement prevents it from transferring the roughly 90 Towson workers to other locations.

The closure of the Towson location prompted allegations of union-busting by the International Association of Machinists and Aerospace Workers, also known as the IAM Union.

NEW EMOJIS COMING TO APPLE IPHONES IN LATEST UPDATE

Apple said workers at two locations would be transferred, while those at the third may apply for jobs with the company. (Michael M. Santiago/Getty Images)

The IAM said in a statement that it’s “outraged by Apple’s decision to close its Towson, Md., store – the first unionized Apple retail location in the United States – and abandon both its workers and a community that relies on it for critical services and its unique access to public transit.”

“Apple’s claim that the collective bargaining agreement prevents relocation is simply false and raises serious concerns that this closure is a cynical attempt to bust the union,” the IAM Union said, adding that it’s exploring legal options to “hold Apple accountable.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Thailand’s Public Health Ministry is considering implementing cross-border health insurance requirements for foreigners entering the country to alleviate the financial burden on hospitals located near border areas.

Key Points

• Medical Inflation Trends: Medical costs in the Asia-Pacific are rising faster than global averages, influencing insurers’ pricing and benefit designs. The gross medical trend in Asia Pacific is projected at 11.8% for 2024, 13.2% for 2025, and 14% for 2026, compared to global trends of 9.5%, 10%, and 10.3%.
• Regional Projections: For 2026, specific markets project high medical trends: Singapore (16.9%), Taiwan (16.7%), Philippines (16.1%), Malaysia (15.7%), Indonesia (15.1%), and New Zealand (14.9%). Thailand predicts a lower rate of 10.8%, still higher than Hong Kong (9.9%) and Australia (8.3%).
• Insurer Outlook: Approximately 57% of insurers in the region anticipate elevated medical trends will persist over the next three years, indicating a challenging environment for health funding and insurance strategies.

Rising Medical Costs in Asia-Pacific

Problem driving the proposal: Border hospitals face mounting unpaid bills from treating foreign patients, including refugees and those affected by conflict or disease outbreaks. Some hospitals, like Umphang Hospital near the Thai-Myanmar border, have struggled to pay staff.

Financial data: Uncollectible healthcare costs have been significant — billions of baht annually. In 2024, about 76% of unpaid costs came from the Thai-Myanmar border, with 570,000 service visits generating THB1.8 billion in unpaid bills.

Funding debate: Policymakers are considering a dedicated fund for foreign patient care, initially seeded with THB100–200 million, but questions remain about long-term financing and responsibility.

The accelerating medical cost inflation in the Asia-Pacific region is significantly affecting the health insurance landscape. With a dramatic rise in gross medical trend, projections indicate an increase of 11.8% in 2024, escalating to 13.2% in 2025, and potentially reaching 14% in 2026. These figures starkly contrast with global trends, which are forecasted at lower rates of 9.5%, 10%, and 10.3% over the same period. Countries like Singapore and Taiwan are facing even steeper climbs, with projected rates of 16.9% and 16.7% respectively. Such figures highlight the urgent need for insurers to adapt their strategies to mitigate risks associated with rising healthcare expenses.

Impact on Insurers’ Strategies

With over half (57%) of insurers anticipating sustained elevated medical trends for the next three years, the implications for pricing, underwriting, and benefit design are profound. In Thailand, despite a projected medical trend of 10.8%, which is below the regional average, it remains critical for insurers to recalibrate their approaches, especially as the costs can still outpace economic growth. Comparatively, countries like Hong Kong and Australia report even lower trends, at 9.9% and 8.3% respectively, indicating a disparate landscape in medical inflation. Insurers must closely monitor these trends and adopt strategic measures to ensure they not only remain competitive but also sustainable in an evolving market.

The Future of Health Funding

Given the ongoing changes in healthcare costs, cross-border health funding reviews in Thailand are notably timely, as they could significantly alter how health services are financed and delivered. Insurers may need to consider innovative funding solutions that can cushion the financial impact on both the insurers and their customers. As medical trends continue to rise, and with forecasts projecting especially high increases in several key markets, the focus will increasingly shift towards sustainable practices in health insurance. Moving forward, addressing these cost challenges will be crucial for maintaining both accessibility and quality of healthcare across the region.

Other People are Reading

Mercedes-Benz is recalling more than 24,000 vehicles due to an issue with the drive shaft universal joint, which may unexpectedly break, according to the National Highway Traffic Safety Administration (NHTSA). 

The recall affects various Mercedes models as documents shared by the NHTSA say that a broken joint can lead to a loss of power, which can increase the risk of a car crash. 

A total of 24,092 cars were affected, ranging from models released between 2018 and 2020, according to the documents, while the share of vehicles with the defect is estimated to be 100% of the recalled vehicles.

Representatives for Mercedes-Benz did not immediately respond to FOX Business’s request for comment.  

BISSELL STEAMERS RECALLED IN RESPONSE TO DOZENS OF ‘SERIOUS’ BURN INJURIES

Mercedes-Benz has recalled 24,092 vehicles because the drive shaft universal joint may unexpectedly break. (Reuters/Athit Perawongmetha, File / Reuters Photos)

Dealers will be notified about the recall, and will inspect the drive shaft universal joint. The brand is also sending notification letters to vehicle owners who may be affected by the recall by June 2, 2026, according to the NHTSA. 

The agency also reported last week that more than 422,000 Ford vehicles in the U.S. are being recalled over windshield wiper failure.

Windshield wiper arms may operate erratically or may break, causing the wipers to fail, according to NHTSA.

The model year 2021-2023 Lincoln Navigator, 2021-2023 Ford Expedition, and the 2022-2023 Ford Super Duty, are some of the specific vehicles that may be directly affected by the recall.

350K SUPPLEMENTS RECALLED FOR PACKAGING FLAW THAT POSES ‘SERIOUS INJURY OR DEATH’ RISK TO CHILDREN

Drivers who may be affected by the Mercedes-Benz recall will be contacted through a letter from the company by June 2. (Getty Images)

“An improperly functioning or detached wiper arm may impair driver’s vision, increasing the risk of a crash,” NHTSA’s description of the defect said.

“The windshield wiper arm’s latch retention plate may have been incorrectly staked at the supplier. The latch retention plate keeps the arm head properly seated to the wiper arm. Additionally, the engagement between the knurl and wiper arm may be reduced due to dimensional variability. Proper knurl-to-arm head teeth engagement ensures robust wiper arm operation,” the agency said.

GET FOX BUSINESS ON THE GO

Customers with further questions can contact Mercedes-Benz using the customer service phone number, 1-800-367-6372. 

They can also check if their car has been impacted by searching for their model number on NHTSA.gov.

FOX Business’ Eric Revell contributed to this report.

NEW YORK — The Nasdaq Composite climbed 1.40% to 23,507.62 Tuesday morning, extending its rebound from recent geopolitical shocks as investors bet on resilient corporate earnings and the enduring strength of artificial intelligence-driven growth.

The tech-heavy index rose 323.88 points by 11:28 a.m. EDT, building on Monday’s 1.2% gain that pushed it to 23,183.74 at Monday’s close. The move reflected renewed optimism that U.S. companies can navigate higher energy costs from Middle East tensions while delivering solid first-quarter results.

Gains were led by technology and semiconductor stocks, with AI-related names continuing to anchor the rally. The index has now recovered much of its losses from the brief escalation involving U.S.-Iran tensions that began in late February, returning to levels last seen before the conflict intensified.

Analysts pointed to easing concerns over a prolonged energy shock and diplomatic progress as key drivers. Reports of advancing peace talks, including comments from U.S. Vice President JD Vance on “a lot of progress” in initial Iran negotiations, helped lift risk appetite across markets. Oil prices eased slightly Tuesday, reducing fears that sustained high crude costs would crimp corporate margins or force the Federal Reserve into a more hawkish stance.

Earnings season, which kicked into high gear this week with major bank reports, provided additional support. Investors appeared encouraged by early results showing banks weathering the environment, while broader expectations for double-digit profit growth across the S&P 500 helped justify valuations in the tech sector.

The Nasdaq’s performance outpaced the broader market, underscoring its heavy weighting toward growth stocks. The Dow Jones Industrial Average and S&P 500 also traded higher but with more modest gains, highlighting the continued leadership of technology amid economic uncertainty.

Key movers included semiconductor giants and software companies tied to AI infrastructure. Memory chip producers, data center enablers and cloud computing leaders posted solid intraday advances as investors rotated back into high-conviction tech names. Oracle shares jumped on news of expansions to its agentic AI platform, while other AI-adjacent stocks benefited from broader sector momentum.

The rally comes after a volatile start to 2026. The Nasdaq posted a roughly 7% decline in the first quarter amid worries over AI disruption in certain industries and geopolitical flare-ups. Yet April has brought a sharp rebound, with the index now testing recent highs and flirting with all-time territory in some sessions.

Market participants remain focused on the balance between strong corporate fundamentals and external risks. Consensus forecasts call for about 14% year-over-year earnings growth in the first quarter, with even stronger projections for the full year. Some strategists have raised full-year 2026 S&P 500 earnings growth estimates to around 19%, citing resilient demand and operating leverage in tech and related sectors.

Producer Price Index data released Tuesday showed a tame 0.5% headline increase for March, below expectations and helping soothe inflation concerns. Core PPI rose just 0.1%, offering reassurance that wholesale price pressures have not spiraled despite higher energy costs. The report supported views that the Federal Reserve can remain patient, with markets still pricing in limited rate cuts for the remainder of the year but virtually no chance of near-term hikes.

Federal Reserve speakers scheduled for Tuesday added to the cautious optimism. While officials have signaled a data-dependent approach, the combination of cooling wholesale inflation and solid corporate outlooks has kept hopes alive for a soft landing.

Geopolitical developments continued to influence sentiment. The temporary U.S. blockade related to the Strait of Hormuz had earlier driven oil prices higher, but signs of de-escalation and potential follow-up negotiations helped stabilize energy markets. Citigroup and other firms upgraded their equity outlook citing the prospect of an eventual cessation of hostilities.

Within the Nasdaq, strength was broad but concentrated in a handful of megacap names and AI ecosystem players. Nvidia, Broadcom, TSMC-related optimism and memory stocks like Micron and Seagate have been standout performers in recent sessions, reflecting ongoing capital spending on data centers and AI training infrastructure.

Software stocks also contributed, with some analysts noting a shift toward names providing tangible productivity gains rather than speculative AI hype. The index’s longest winning streaks in recent memory have been powered by a mix of established tech leaders and selective growth names.

Smaller tech and growth stocks showed mixed results, with the Russell 2000 lagging the Nasdaq as investors favored liquidity and proven business models amid uncertainty.

Looking ahead, investors will parse a steady stream of earnings this week, including results from major banks like JPMorgan Chase, Wells Fargo and Citigroup, as well as industrial and consumer names. Guidance on loan demand, trading revenues and cost management will offer clues about the health of the broader economy.

Tech earnings later in the season, particularly from leaders in semiconductors and cloud computing, will be closely watched for updates on AI capital expenditure trends. Any acceleration in data center buildouts or upward revisions to revenue forecasts could provide fresh fuel for the Nasdaq.

Valuations remain elevated by historical standards, but many analysts argue they are justified by superior growth prospects in artificial intelligence, cloud adoption and digital transformation. Forward price-to-earnings ratios for the Nasdaq-100 have moderated slightly from peaks but still reflect premium pricing for future cash flows.

Risks persist. A prolonged Middle East conflict could push energy costs higher, squeezing margins and reigniting inflation worries. Supply chain disruptions or slower-than-expected AI monetization could also weigh on sentiment. On the policy front, any surprise shift in Fed rhetoric toward tighter policy would likely pressure growth stocks disproportionately.

Despite these headwinds, the prevailing narrative Tuesday centered on resilience. The market’s ability to shrug off recent shocks and focus on fundamentals has encouraged bulls, with some strategists arguing the Nasdaq could test or surpass previous highs if earnings deliver.

The index’s recovery also highlights the enduring appeal of U.S. technology leadership. From AI chips to enterprise software, American companies continue to dominate innovation cycles that drive global productivity gains.

As trading progresses, volume has been respectable, signaling genuine participation rather than thin holiday-like action. Options activity and futures positioning suggest traders are positioning for continued volatility but with a constructive bias.

Broader market breadth has improved modestly, though the Nasdaq’s gains remain top-heavy. Rotation into financials and select cyclicals has provided some balance, preventing an overly narrow rally.

For individual investors, the message from Tuesday’s action is one of cautious participation. While the Nasdaq’s surge reflects optimism, disciplined risk management remains essential given the potential for swift reversals on news flow.

The coming days will test whether this rebound has legs. Strong bank earnings and continued diplomatic progress could extend the rally, while disappointing guidance or renewed geopolitical flare-ups might prompt profit-taking.

For now, the Nasdaq Composite’s climb to 23,507 demonstrates the market’s focus on long-term growth drivers even amid short-term noise. As earnings season unfolds and the geopolitical picture clarifies, investors will continue weighing the balance between opportunity in technology and the realities of a complex global backdrop.