Lumentum and Coherent surge after Nvidia invests $2 billion apiece to develop advanced optics technologies

Oracle is up nearly 27% for the week in midmorning trading Thursday, putting it on track for its best weekly gain since June of 1999.

And yes, that run-up — which has added $100 billion to Oracle’s market cap this week — beats the nuttiness of last September, when the stock exploded up 36% in a single day after Oracle disclosed its massive AI-related sales backlog. By the end of that week, the stock ended up a mere 25%.

This week, the company soared 13% on Monday after signing a power deal with fuel cell maker Bloom Energy, as the market continues to be super focused on how quickly hyperscalers can get their AI data centers built and powered up. (Finding off-grid connections to electricity is proving increasingly tricky.)

On Thursday, Oracle also announced a collaboration with Amazon Web Services that would allow customers of both companies to easily move data back and forth and run programs using data center infrastructure from either company.

Oracle, along with other large-cap AI beneficiaries and the rest of the market, has also been getting a lift from a period of relative calm in the Iran war, with stocks hitting new record highs and US crude oil prices declining by more than 10% this month.

Retail favorite Oklo, the “pre-revenue” designer of smaller experimental modular nuclear reactors with close ties to the Trump administration, is on track for its best week since January, even after slumping early Thursday.

Before Thursday’s slight decline, Oklo had posted big gains for four straight days, rising 33% in that time frame. Another stock in the category, Nuscale, rose 27% in the same span.

Oklo shares may have benefited from a directive published Tuesday by the White House Office of Science and Technology Policy directing federal agencies to “establish cost-effective partnerships with private-sector innovators to meet near-term objectives that include safely deploying nuclear reactors in orbit as early as 2028 and on the Moon as early as 2030.”

Oklo’s close ties to the US government could put it in a position to benefit from such orders. US Secretary of Energy Chris Wright formerly served on Oklo’s board of directors.

Separately, Oklo announced new members of its board of directors Tuesday, adding David Christian, a former executive from Dominion Energy, and David Park, CEO of Standard Lithium, among others.

Whether these announcements ultimately translate into a financial gain for Oklo remains to be seen. But it likely won’t be seen for a while.

The company doesn’t expect to generate any meaningful revenue until it brings its Aurora line of modular reactors, none of which have been built yet, to market. (The company has announced approvals of some design plans related to a prototype it’s building at the Idaho National Laboratory.)

On the other hand, Oklo does have some money to burn, reporting cash and marketable securities worth some ~$1.4 billion at the end of 2025. And with the share price spiking this week, Oklo executives might also be tempted to offer more stock as a source of funding.

Oklo’s upswing comes amid a rebound in retail trading this week that’s sending stocks and crypto beloved by individual traders — such as IonQ, D-Wave Quantum, Hims & Hers, and SoundHound AI — sharply higher, as worries about Iran ease and traders rush to buy whatever remaining “dip” there is.

All of the technological breakthroughs, sales deals, and acquisitions haven’t mattered much for quantum computing companies in 2026.

The speculative fever had broken, with call volumes traded and most retail darling assets having peaked in October, and the subsequent risk-off move during the Mideast war accelerated the retreat from expensive, thematic plays.

Then along came Nvidia to the rescue — the company that kneecapped the industry in Q1 2025 when CEO Jensen Huang said it would likely be a couple decades before quantum computers were “very useful.”

On Tuesday, the chip designer released a family of open models (dubbed Ising) designed to leverage AI to improve calibration and error correction for quantum computers, “two of the most critical challenges in building hybrid-quantum classical systems,” per the press release.

D-Wave Quantum, IonQ, Rigetti Computing, and Quantum Computing have surged between 23% and 42% over the past three sessions, as of 9:50 a.m. ET.

These stocks are all poised for their best weeks since September, and the return of intense call buying definitely appears to be magnifying the buying pressure:

Infleqtion, the relative newcomer on the scene, is up about 16% since Monday’s close.

True to form, Huang threw a bit of a backhanded compliment to the industry along with this lifeline.

“AI is essential to making quantum computing practical,” he said.