Oklo Inc

Oklo Inc (NYSE: OKLO) is a publicly traded advanced nuclear technology company based in Santa Clara, California. Founded in 2013 by MIT graduates Jacob DeWitte and Caroline Cochran, Oklo designs and develops compact fast reactors intended to deliver clean energy for off-grid applications.

---

Corporate Structure

• Ticker: OKLO
• Exchange: New York Stock Exchange (NYS)
• Headquarters: Santa Clara, California
• Employees: 51–200 (LinkedIn)
• Leadership:
  • Jacob DeWitte, Co-Founder & Chief Executive Officer (also Chair of the Board as of April 22, 2025)
  • Caroline Cochran, Co-Founder & Chief Operating Officer
• Corporate Status: Emerging Growth Company (per SEC filings)

---

Recent Developments and News

• April 22, 2025: Sam Altman steps down as Chair of the Board to avoid conflicts of interest; Jacob DeWitte becomes Chair.
• May 2025:
  • Idaho National Laboratory (INL) Site Use
    • Completion of borehole drilling at INL, Oklo’s first commercial site.
    • Signing of an Interface Agreement with INL, advancing the environmental review for the Aurora powerhouse.
  • Fuel Access
    • INL to provide recovered spent nuclear fuel for Oklo’s Aurora reactor demonstration.
  • Regulatory Readiness
    • Engaged in a Readiness Assessment with the U.S. Nuclear Regulatory Commission (NRC) ahead of a combined construction and operating license application expected in 2025.
  • Department of Defense Selection
    • Selected as one of the companies eligible to supply microreactor systems for U.S. military bases.
• April 2025: Chris Wright, former Oklo board member, appointed as U.S. Secretary of Energy; DOE initiative prioritizes public-private partnerships for AI data center power.

---

Financial and Strategic Analysis

Stock Performance (as of May 23, 2025)

Metric	Value
Share Price	$48.8450
Intraday Market Cap	$6.799 billion
Volume	37,952,088
52-Week Range	$5.35 – $59.14
Change Since NYSE Debut	+82.6 %

Key Financial Metrics (TTM)

• Net Income attributable to common stockholders: –$59.4 million
• Diluted EPS: –$0.47
• Return on Equity: –56.03 %
• Return on Assets: –22.83 %
• Total Cash (most recent quarter): $201.0 million
• Total Debt/Equity (most recent quarter): 0.67 %
• Levered Free Cash Flow: –$24.09 million

Capital Markets

• SPAC Merger: May 10, 2024, with AltC Acquisition Corp; $306 million in gross proceeds.
• SEC Filings:
  • Notice of Effectiveness (Form S-1) approved May 13, 2025.
  • Prospectus Supplement (Rule 424(b)(3)) filed May 13, 2025.
• Earnings Window: Expected August 11–15, 2025.

---

Market Position and Industry Context

• Product: Aurora small modular reactor (15–50 MWe), designed for operation of up to 10 years without refueling.
• Target Applications: Data centers, AI compute facilities, remote communities, industrial sites, and military bases.
• Competitive Landscape:
  • Competing firms include NuScale Power, X-Energy, Kairos Energy, and Constellation Energy (Three Mile Island).
• Industry Drivers:
  • Increasing power demand attributed to AI and electrification.
  • Federal initiatives promoting the deployment of advanced nuclear at Department of Energy sites.
  • Interest in sustainable energy generation for large data centers.
• Challenges:
  • Regulatory approvals and licensing time frames.
  • Capital requirements and lengthy deployment times for new reactors.
  • Limited operational data for small modular reactors within the U.S.

---

tl;dr

On May 23, 2025, Oklo Inc’s stock traded at $48.85. The company advanced regulatory efforts with a Readiness Assessment from the NRC and an INL Interface Agreement. Borehole drilling at INL has been completed, and HALEU fuel supply has been secured for the first commercial Aurora demonstration, anticipated for operation between 2027 and 2028. Oklo holds a $6.8 billion intraday market cap, has $201 million in cash, and reported a net loss of $59 million over the trailing twelve months. Future milestones include the submission of the combined license application in 2025 and the first reactor deployment at Idaho National Laboratory.