Oklo (OKLO 1.15%) clearly recognized the importance of striking when the iron was hot last year. With nuclear energy emerging as a leading power solution for data centers that support artificial intelligence (AI) computing, investor appetite for small modular reactor (SMR) developers like Oklo has been strong for over a year now.

When Oklo completed its business merger with a special purpose acquisition company (SPAC) in May 2024, the market jumped at the opportunity to load up on Oklo stock, and the company raised about $306 million in proceeds from the transaction.

An investor looks at a smartphone and celebrates.

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But how have investors who have held on to Oklo since May 2024 fared? Let's take a closer look at what a $1,000 investment one year ago would be worth today.

Investor interest in this nuclear energy stock has been electric

Oklo achieved some successes in the summer of 2024, but in November the company notched some major victories. For one, Oklo announced plans to partner with two major data center providers to deliver up to 750 megawatts (MW) of power for data centers across the U.S., bringing its pipeline to approximately 2,100 MW.

Interest from data center companies has remained strong, and in July Oklo announced projects with Vertiv and Liberty Energy to explore how Oklo could support data center infrastructure.

In addition to data centers, Oklo broadened its interests with the acquisition of Atomic Alchemy, a specialist in radioisotope production.

While there have been occasional downturns, Oklo stock has vastly outperformed the market over the past year. Investors who bought $1,000 in Oklo stock on Aug. 21, 2024, have seen their positions grow to $9,929 one year later.

Is now the time to charge up your portfolio with Oklo?

With the company still preparing to start commercial operations, an investment in Oklo is still fairly speculative. For those seeking a more conservative option, a nuclear energy exchange-traded fund may help them scratch their itch for nuclear energy exposure while mitigating the risk of a single investment in Oklo stock.