OKLO Vs SMR: Nuclear Is The New AI Trade, But Which Of These Stocks Has The Edge?

• Oklo is ramping up partnerships with multiple hyperscalers, including Nvidia and Meta, to accelerate the deployment of its fast-fission power plants.
• NuScale Power is garnering attention due to its advanced Small Modular Reactor technology, which is the first and only one to be certified by the U.S. Nuclear Regulatory Commission. 
• OKLO shares have surged more than 214% in the last year, while SMR shares have declined 23% in the same period.

Nuclear energy stocks are gaining heavy attention on Wall Street and Main Street as booming artificial intelligence data center demand and heightened energy security priorities fuel a surge in power needs.

Among the standouts, Oklo Inc. (OKLO) and NuScale Power Corp. (SMR) are drawing increased attention, supported by high-profile partnerships with tech firms and rising interest in their compact, fuel-efficient reactor designs as scalable clean energy alternatives.

While Oklo develops next-generation fission powerhouses and compact fast reactors that can recycle used nuclear fuel, NuScale Power uses small modular reactors (SMRs) for large-scale energy deployments, including powering AI data centers.

Oklo’s Impressive Partnerships

Santa Clara, California-based Oklo is ramping up partnerships with multiple hyperscalers to accelerate the deployment of its fast fission power plants to power AI data centers.

On Thursday, the company announced a partnership with Nvidia Corp. (NVDA) to advance nuclear-powered AI infrastructure by combining its reactor technology with Los Alamos National Laboratory’s expertise in nuclear fuels and materials science.

Earlier this year, Oklo also signed an agreement with Meta Platforms (META) to advance plans for a 1.2 gigawatt clean-energy campus in Pike County, Ohio, to aid the tech giant’s regional data center operations.

Beyond these, Oklo also has a range of other deals, including with the U.S. Department of Energy, aimed at deploying commercial, fast-fission technology. The company is targeting commercial operations by late 2027 to early 2028.

NuScale Power’s SMR Technology

NuScale Power is front and center in the nuclear conversation because of its advanced Small Modular Reactor technology, powered by its pressurized water reactors that can generate 77 megawatts of electricity. The company’s SMR technology is also the first and only one to be certified by the U.S. Nuclear Regulatory Commission.

The company’s partnership with Houston-based ENTRA1 Energy to accelerate the commercialization and deployment of its small modular reactors is aimed at helping meet rising energy demand from AI data centers, manufacturing, and national defense.

While NuScale has indicated that it will focus on achieving manufacturing readiness for its first SMR modules in 2026, commercial deployments are expected only around 2030.

What’s Wall Street Saying?

On Thursday, HSBC initiated coverage of both OKLO and SMR stocks.

The analyst rated Oklo a ‘Buy’ with a price target of $96, indicating an upside potential of about 25.6% from the last close. HSBC noted Oklo’s clean balance sheet with "imminent first revenue," creating a good risk/reward at current share levels.

According to Koyfin data, 14 of 20 analysts covering OKLO stock have a ‘Buy’ rating, with a 12-month average price target of $90.74, indicating an upside potential of about 18.7%.

Meanwhile, HSBC initiated coverage of NuScale Power with a ‘Hold’ rating and $13 price target, indicating an upside potential of about 2% from its previous close. The analyst said that there are limited pure-plays in the U.S. nuclear renaissance and rising AI data center power demand, and that while it believed NuScale was positioned well, it believes the company faces significant execution and financial risk for deploying its SMR technology.

However, according to Koyfin data, only 6 of 17 analysts covering SMR stock rate a ‘Buy’ or higher, while 9 rate it ‘Hold’. The 12-month average price target for the company is $19.71, indicating an upside potential of nearly 55%.

OKLO shares have surged more than 214% in the last one year, while SMR shares have declined 23% in the same period.

OKLO, SMR: Retail Traders Pile In

On Stocktwits, retail sentiment around OKLO shares was in the ‘extremely bullish’ territory at the time of writing amid ‘extremely high’ message volumes.

One bullish user praised Oklo’s deal with Nvidia, noting that both companies are leaders in their respective sectors, and adding that Nvidia’s partnership was a validation for Oklo’s leadership on fuel technology, power generation and radioisotope production.

Meanwhile, retail sentiment around SMR shares was in the ‘bullish’ territory at the time of writing amid ‘extremely high’ message volumes.

While many retail users discussed SMR’s strengths, with some predicting a price run to $50, one bearish user indicated their preference for OKLO.

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