Key Points
Oklo, a small modular nuclear reactor developer (NYSE: OKLO), began trading at around $10 per share in May 2024, reaching nearly $175 by October 2025. However, shares have since fallen over 75% from that peak. Oklo is currently building its first Aurora power house at Idaho National Laboratory, set to become operational in late 2027 to early 2028, and expects to start construction on a larger project in Ohio later this year.
In 2024, Oklo secured a deal with data center operator Switch to deploy 12 gigawatts (GW) of advanced nuclear power and another agreement with Meta Platforms for 1.2 GW in Ohio. Despite these agreements, Oklo is not generating revenue yet and faces increasing expenditures as it advances its projects. In contrast, NextEra Energy (NYSE: NEE), which already operates seven nuclear units generating over 6 GW, has signed a partnership with Google to restart the Duane Arnold Energy Center in Iowa, projected to boost annual earnings by up to $0.16 per share starting in Q1 2029.
NextEra expects to generate between $3.63 and $4.00 per share this year, indicating its profitability and lower investment risk compared to Oklo’s long path to revenue generation and profit.
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