Core Facts
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Oklo Inc. (NYSE: OKLO) is a pre-revenue nuclear power company with a market cap of approximately $12 billion.
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It aims to develop small modular reactors to provide power for AI data centers, targeting delivery of 15-75 megawatts of carbon-free, baseload power.
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The company secured a tentative agreement with data center operator Switch for a potential 12 gigawatts over 20 years, and a partnership with Meta to supply 1.2 gigawatts to a campus in Ohio by 2030.
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Oklo’s initial application for regulatory approval was denied in 2022, but they are now pursuing a faster Department of Energy pathway for construction at Idaho National Laboratory.
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With plans to fund $350 million to $450 million in projected capital expenditures, Oklo ended Q1 with $2.5 billion in liquidity and no debt, but does not expect to generate revenue until at least 2028.
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