Cathie Wood Bets on Uranium, Ditches Sam Altman’s Nuclear Startup
Cathie Wood pivots from Altman-backed nuclear innovator Oklo to uranium giant Cameco as nuclear stocks surge amid AI-driven energy demand.
Cathie Wood, renowned for her bold and forward-thinking investment strategies at Ark Invest, made headlines again this week. Wood’s ARK Autonomous Technology ETF sold 50,333 shares of Oklo, the nuclear power startup backed by OpenAI’s Sam Altman. Instead, she placed a calculated bet on uranium refiner Cameco, adding 17,504 shares to her portfolio.
This move comes as nuclear stocks, including Cameco and Oklo, gain momentum amid growing global interest in advanced nuclear technologies.
Nuclear Stocks Surge Amid AI and Infrastructure Investments
The market reacted swiftly following an announcement by former President Donald Trump. Trump unveiled plans for a private-sector investment of up to $500 billion to develop infrastructure supporting artificial intelligence, which is expected to drive demand for electricity. Big Tech is increasingly exploring nuclear power as a sustainable solution to meet the energy needs of AI data centers.
Oklo’s stock soared by 20% on Tuesday, closing at $31.25. It continued its rally into Wednesday, gaining 6.6% to $33.27. Cameco, meanwhile, advanced 3.7% on Tuesday, climbing further to $55.56 by Wednesday.
Small Modular Reactors: A Game-Changer for Nuclear Energy
Small modular reactors (SMRs) have captured investor attention due to their potential to revolutionize the nuclear power industry. These compact and scalable reactors promise to provide cleaner energy with lower upfront costs. Oklo, considered a leader in SMR technology, is poised to be the first company to bring an advanced nuclear project online.
However, volatility persists in SMR-focused stocks. Oklo has fluctuated around its 28.12 buy point, reflecting the inherent risks of investing in this emerging sector. Nano Nuclear Energy, another key player in SMR technology, surged 7.5% this week, further underscoring the sector’s potential and volatility.
Why Cathie Wood Chose Cameco
Cameco, headquartered in Canada, is one of the world’s largest uranium suppliers. Its strategic partnership with Westinghouse places it at the forefront of nuclear fuel innovation. As the demand for uranium grows, Cameco’s position as a key supplier strengthens its appeal to institutional investors like Wood.
Cameco recently rebounded from its 200-day moving average, signaling renewed investor confidence. Despite being 14% below its December high, the stock is steadily gaining traction, supported by its robust fundamentals and industry position.
The Broader Implications of Wood’s Investment Move
Cathie Wood’s decision to shift her focus from Oklo to Cameco signals a strategic pivot. While Oklo’s innovative SMR technology holds promise, Cameco offers stability and a more established foothold in the nuclear energy market.
As AI and nuclear technology become increasingly intertwined, investments in uranium and SMR technology will likely play a crucial role in shaping the future of energy and technology infrastructure.


