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Oklo Stock Declines Amid AI Concerns
Oklo (NYSE: OKLO) experienced a significant decline in its stock price, dropping as much as 35.4% from October 31 to the end of November 2023, ultimately finishing down 31.2%.
This decline occurred while the broader S&P 500 rose 0.1% and the tech-heavy Nasdaq Composite fell 1.5%. The company has seen its shares surge nearly 420% over the past year due to expectations tied to its small modular reactors, but investor confidence is wavering following the launch of Google’s Gemini 3, which is trained on energy-efficient TPUs instead of conventional GPUs.
As Google, and potentially other tech companies, move towards using TPUs, the anticipated energy demands for AI could be lower, casting doubt on Oklo’s growth narrative and leaving investors questioning the stock’s valuation.
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