Oklo Inc. (OKLO) Backed by Wedbush Analyst as Nuclear Powers AI Revolution
The rating affirmation reflects optimism in Oklo's long term vision, particularly as the Trump administration increases its focus on the AI revolution data center buildout powered by nuclear energy.
"Overall, we remain confident in OKLO's long-term vision as the Trump Administration intensifies its focus on the AI Revolution data center buildout with plans to use nuclear energy to power the next 4th Industrial Revolution with the US DoD becoming an increasingly important customer/partner moving forward. We expect to hear further details on OKLO's projects in the coming months."
A chart showing the trend of the energy sector's stock prices.
Oklo Inc. (NYSE:OKLO) is an advanced nuclear technology company that designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States.
While we acknowledge the potential of OKLO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Los Angeles Times
5 minutes ago
- Los Angeles Times
Newsmax to pay $67 million to settle Dominion suit over 2020 election fraud claims
Newsmax will pay $67 million to settle a defamation suit filed by Dominion Voting Systems over false claims about voter fraud in the 2020 election that aired on the right wing news channel. The network announced the settlement with the voting equipment maker Monday, but did not apologize for its reporting. 'Newsmax believed it was critically important for the American people to hear both sides of the election disputes that arose in 2020,' the company said in a statement. 'We stand by our coverage as fair, balanced, and conducted within professional standards of journalism.' Earlier this year, Delaware Court Judge Eric Davis ruled that Newsmax made defamatory statements about Dominion in its reporting on President Trump's allegations that the company was involved in rigging the 2020 presidential election to favor Joe Biden. He was ready to send the case to a jury that would have determined if Newsmax acted with malice and whether any damages should be awarded to Dominion. Newsmax was among the channels presenting false claims by President Trump's allies and supporters that Dominion, a provider of vote-counting machines and software, was created in Venezuela to rig elections for leader Hugo Chavez and that it has the ability to switch votes. 'We are pleased to have settled this matter,' a Dominion representative said in a statement. Fox News settled a similar case with Dominiion in April 2023 for $787.5 million after it aired incorrect election claims. Newsmax previously settled a defamation suit filed by Smartmatic, another voting equipment company that has sued right wing outlets over their reporting on Trump's false claims. The terms of the settlement were confidential. In that case, Davis also ruled that false statements were made, but ruled that Smartmatic had to prove the actual financial damage of Newsmax's actions. Smartmatic is in litigation with Fox News, looking for $2.7 billion in damages. If the case isn't settled, it will go trial in New York next year. Fox News has argued that there is no evidence Smartmatic has lost any business due to its reporting. The network argued that reporting on Trump's false claims was newsworthy and protected under the 1st amendment.
UPI
6 minutes ago
- UPI
Newsmax settles defamation suit by Dominion Voting Systems for $67M
A Newsmax banner hangs at the entrance of the New York Stock Exchange before the closing bell on Wall Street on March 31. The conservative media company's stock price jumped more than 700% in its first day of trading on the NYSE. File Photo by John Angelillo/UPI | License Photo Aug. 18 (UPI) -- Newsmax on Monday agreed to pay $67 million to Dominion Voting Systems in a defamation suit against the conservative media company over its 2020 presidential election coverage. The announcement came as President Donald Trump on Monday reiterated his criticism of certain voting machines and mail-in ballots. Newmax announced the agreement in a filing with the U.S. Securities and Exchange Commission in which the two sides mutually agreed to resolve the litigation. Dominion, a private company based in Denver, provides voting equipment to jurisdictions in 28 states. The systems include touchscreen screens and paper ballot scanning devices. The settlement will be paid in installments over three years, which the company said it "expects to fund through revenues." Newsmax, which went public in March with an initial public offering of $10 per share for $75 million, has a market capitalization of $1.56 billion. Last September, Newsmax agreed to a settlement with another voting machine company, Smartmatic, before a trial. The settlement of $40 million wasn't disclosed until March. In 2021, Dominion filed suit against Newsmax, seeking $1.6 billion and alleging certain statements made in Newsmax's coverage about the election were defamatory. "We are pleased to have settled this matter," a Dominion spokesperson told CNN, declining to comment further. "The judiciary's willingness to punish news organizations for reporting on matters of urgent national debate undermines the role of the press in a free society," Newsmax said in a news release. After Joe Biden was declared the winner against Donald Trump in November 2020, Newsmax hosts and guests falsely claimed the election results were fraudulent and specifically took aim at voting machines. Newmax didn't disclose whether there would be an on-air apology or acknowledgement about false claims that voting results were incorrect. "Newsmax believed it was critically important for the American people to hear both sides of the election disputes that arose in 2020," the company said in a statement. "We stand by our coverage as fair, balanced, and conducted within professional standards of journalism." Newsmax said it determined that Delaware Court Judge Eric Davis, who was presiding over the case, would not provide a fair trial in which the company could present standard libel defenses to a jury. He presided over the voting machine company's defamation suit against Fox News, in which $787 million was awarded in April 2023 in a suit settlement. Davis, who was appointed by a Democratic governor, Jack Markell, in 2010, earlier this year ruled that Newsmax aired defamatory statements about the company. He said a jury would decide if the lies were intentional and if so how much would be awarded. "From the very beginning, Judge Davis ruled in ways that strongly favored the plaintiffs and limited Newsmax's ability to defend itself," Newsmax said. The judge indicated that he likely would refuse to allow the jury to hear that Fox News had already paid Dominion $787 million. Newsmax also noted Dominion was permitted to comb through extensive communications, including personal emails, cellphone text messages and other documents of reporters and company executives unrelated to the case. "The Delaware Court under Judge Davis effectively enforced a confiscation of our property because our reporting was not always sympathetic to Joe Biden," Newsmax CEO Christopher Ruddy said. Newmax, which is the fourth-highest-rated network of all major pay TV providers, became a public company in March and is listed on the Nasdaq. Its main offices are in New York City and Boca Raton, Fla. The company reaches more than 40 million Americans regularly through Newsmax TV, the Newsmax App, website and publications. Trump, who continues to claim he won the 2020 election despite being told otherwise in court cases and audits, blasted the use of mail-in ballots and voting machines on Monday morning in a post on Truth Social. "I am going to lead a movement to get rid of MAIL-IN BALLOTS, and also, while we're at it, Highly "Inaccurate," Very Expensive, and Seriously Controversial VOTING MACHINES, which cost Ten Times more than accurate and sophisticated Watermark Paper, which is faster, and leaves NO DOUBT, at the end of the evening, as to who WON, and who LOST, the Election," Trump posted. 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Yahoo
28 minutes ago
- Yahoo
Republican Stacy Garrity launches bid to challenge Pennsylvania Gov. Josh Shapiro in 2026
The Brief Stacy Garrity, Pennsylvania's state treasurer, announced Monday that she would seek the Republican nomination to challenge Democratic Gov. Josh Shapiro in 2026. Garrity has hinted at a run for months and has stepped up criticisms of Shapiro in that time. In a video released Monday, she referred to herself as a 'strong ally' of President Trump. HARRISBURG, Pa. - Stacy Garrity, Pennsylvania's two-term elected state treasurer, said Monday that she will seek the Republican nomination to challenge Democratic Gov. Josh Shapiro 's reelection bid, setting up what could be a contest between a low-profile officeholder and a potential White House contender in 2028. What we know Garrity has hinted at a run for months and stepped up her criticism of Shapiro. In campaign fundraising appeals, she accused Shapiro of being soft on law and order and hostile to her "pro-worker, pro-energy, pro-America agenda." In a video released Monday, she called herself a "strong ally" of President Donald Trump, highlighted her military service and vowed to "fix the problems Josh Shapiro has created." That, she said, includes Pennsylvania's relatively high tax burden and rising grocery prices. Shapiro has returned fire, blasting her for supporting Trump's big tax break and spending cut package. He has suggested that she supported it because she is "desperate" to get Trump's approval and said it would hurt rural hospitals and people who rely on Medicaid, drive up the cost of energy and blow up the federal deficit. In her video, Garrity defended the bill as "requiring able-bodied recipients to work for their benefits and ending benefits for those here illegally." Trump has not made an endorsement in the race. What they're saying Garrity said in a statement that she "will bring jobs back, strengthen our economy and make Pennsylvania more affordable for families in every corner of the state." Some top Pennsylvania Republicans support Garrity in the 2026 race for governor and hope she'll see a clear primary field, although those hopes have been buffeted in recent weeks by 2022's losing gubernatorial candidate, Doug Mastriano, suggesting that he'll run again. Asked about Garrity on Friday, Shapiro said he's going to keep creating jobs, funding schools, keeping police officers on the beat and bringing Republicans and Democrats together, while Republicans "can focus on their political games all they want." Dig deeper Garrity's task of challenging Shapiro is, by any measure, a tall one. Garrity is relatively untested and spent less than $3 million in her two campaigns for treasurer in 2020 and 2024. Shapiro, 52, has won three statewide races, carries a reputation as a disciplined messenger and powerhouse fundraiser who spent more than $70 million alone in his sole campaign for governor, smashing Pennsylvania's campaign finance record. He's grown into a national figure after he made Democratic presidential nominee Kamala Harris' shortlist for vice presidential running mates last year and is viewed as a potential White House contender for the party in 2028. For Republicans, there is more on the line than knocking off Shapiro. They also want a credible candidate at the top of their ticket as they try to bring out enough voters to defend their congressional seats and their majority in the U.S. House. Shapiro is a former state House member, county commissioner and attorney general who has a base of support in his home in Philadelphia's heavily populated suburbs. Garrity, 61, is from rural northern Pennsylvania and came to politics late in life. A trained accountant, Garrity was a longtime executive for a powdered metals supplier in northern Pennsylvania. She was also an Army reservist who retired as a colonel and served in Iraq, where she ran the detention center at Camp Bucca as part of the 800th Military Police Brigade. Since her 2020 upset victory of the incumbent Democratic treasurer, Garrity has been an avid campaigner, speaking at numerous Trump rallies. In 2022, she was perhaps the GOP's most visible surrogate for Mastriano. Shapiro won his 2022 contest by almost 15 percentage points, an election cycle Republicans would rather forget. By all accounts, Shapiro and Garrity have had a professional working relationship and avoided partisan squabbling over official matters. Shapiro even gave Garrity a warm and personal introduction in January before she was sworn in to her second term as treasurer. During her time as treasurer, Pennsylvania has run up big surpluses, buoyed by federal COVID-19 aid and inflation-juiced tax collections. That temporarily took pressure off state finances. However, Pennsylvania is reverting to its status as a perennial deficit state, and Garrity has warned that Shapiro's continued stewardship will force tax increases onto residents. As treasurer, Garrity kept several top Democratic staffers on board, expanded the ways in which the department can return unclaimed property and increased the department's investments in Israel bonds. The Source This article contains information from Garrity's campaign website. The Associated Press also contributed to this report.
