Sam Altman’s Nuclear Bet Soars Nearly 150% in 18 Days

October 20

Oklo Inc. (NYSE:OKLO), the nuclear startup backed by OpenAI’s Sam Altman, has been on a tear, soaring nearly 150% since the beginning of October as tech giants embrace nuclear energy for their AI-driven future. Companies like Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOG) are racing to secure power sources for data centers, with energy demands expected to surge to 12% of total U.S. consumption by 2030. Oklo’s recent approval from the Department of Energy for its Aurora Fuel Fabrication Facility marks a significant milestone, but let’s be real: this meteoric rise has a healthy dose of speculation baked in. The company’s still navigating regulatory hurdles and hasn’t fully proven its technology at scale.

Oklo’s game plan centers around small modular reactors (SMRs), which recycle spent nuclear fuel to produce cleaner energy, targeting the hyperscalers’ relentless need for power. By securing fuel supply and advancing its Aurora powerhouse project at Idaho National Laboratory, Oklo is laying the groundwork for what could be a transformative leap in energy production. Yet, with Oklo’s nuclear design still pending final regulatory approval, it’s clear that investor enthusiasm is driven more by the promise of what could be than by what’s already in the bag. As much as these tech deals validate nuclear’s comeback, they’re not exactly a fast pass to commercial deployment.

The surge in Oklo’s stock is a bold bet on the future of nuclear’s role in tackling the world’s growing energy crisis. But make no mistake, the nuclear renaissance narrative is still unfolding. As Morgan Stanley recently put it, “We’re still in the first inning.” The true test will be whether Oklo can turn hype into hard results, navigating both regulatory and operational challenges to deliver on the promise of a new era in clean energy. Investors should keep their eyes wide open; the stakes are high, and the road to commercial reality is anything but smooth.

This article first appeared on GuruFocus.

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