AI Nuclear Theme Stocks Lose 1 Trillion Won in Market Value in One Day

Oklo Inc. (OKLO), the AI nuclear theme stock, closed on the New York Stock Exchange down 6.08% at $82.31. In a single day, roughly $740 million—nearly KRW 1 trillion—in market value evaporated, bringing the company’s market capitalization to about $12.8 billion (roughly KRW 17 trillion).

Oklo recently signed a binding agreement with Meta Platforms to build a 1.2 GW state-of-the-art nuclear campus in Ohio that will supply power to Meta’s data centers. Following the announcement, Bank of America upgraded its rating on Oklo to “Buy” and raised its price target to $127.

Fueled by expectations for rising power demand from AI data centers, Oklo’s share price surged more than 200% last year, attracting substantial buying—including from Cathie Wood’s ARK Invest—and driving extreme volatility.

As a development-stage nuclear startup, Oklo is developing small modular reactors and used-fuel recycling technology. The company has yet to generate revenue and aims to begin commercial operations in 2027–2028. Its primary risks include significant capital expenditure requirements and potential delays in regulatory approval.

Although early investor enthusiasm—dubbed the “Sam Altman effect”—and the AI infrastructure power narrative propelled the stock’s rally, recurring concerns over capital-raising burdens and dilution have led to wild price swings throughout the past year.