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We recently compiled a list of the 10 Firms Lead Thursday's Rally on Better Earnings, Bargain-Hunting. In this article, we are going to take a look at where Oklo Inc. (NYSE:OKLO) stands against the other stocks.
Optimistic sentiment continued to drive Wall Street on Thursday, with all major indices closing higher.
The Dow Jones Industrial Average rose by 0.38 percent, the S&P 500 grew 0.53 percent, and the Nasdaq Composite was up by 0.25 percent.
Ten companies posted notable gains, largely fueled by strong earnings results for the fourth quarter and full-year 2024.
To come up with Thursday's top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A scientist at a computer station, surrounded by a neural network of artificial intelligence code.
Oklo Inc. (NYSE:OKLO)
Oklo Inc. saw its share prices surge by 18.73 percent on Thursday to finish at $41.91 each as investors resumed hunting for stocks particularly those that would benefit from the booming AI.
Earlier this week, stocks in the technology and power sectors took a beating following news that China-based DeepSeek, a new competitor to OpenAI’s ChatGPT, trained its model for only a fraction of US AI providers’ cost to train theirs. The negative sentiment dribbled down to nuclear companies over fears that developing and enhancing AI may not need as much power as previously anticipated.
However, Thursday’s bullish sentiment was buoyed by analyst statements that DeepSeek was not built for only $5 million, with a report from Bernstein saying that claims of building an AI system comparable to OpenAI for just $5 million are "not true."
According to the report, the total amount may have only considered the computational resources, leaving out the significant costs related to research, experimentation, and other developmental expenses.
Overall OKLO ranks 1st on our list of Thursday's top gainers. While we acknowledge the potential of OKLO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than OKLO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.