Oklo Inc. (NYSE: OKLO) has emerged as the standout performer in the nuclear energy sector, with shares skyrocketing an extraordinary 1,460% over the past year, reaching new highs of $126.72 per share as investors embrace the company’s advanced small modular reactor technology.
The nuclear power company’s meteoric rise comes amid unprecedented demand for clean energy solutions, driven primarily by artificial intelligence data centers and strategic partnerships that position Oklo at the forefront of the next-generation nuclear revolution.
Historic Stock Performance Captures Market Attention
Oklo’s stock has delivered phenomenal returns, climbing from $6.20 in September 2024 to $96.70 as of September 2025, representing one of the most dramatic rallies in the clean energy sector. The company’s shares have gained over 390% year-to-date alone, with recent momentum accelerating following several major announcements.
On September 18, 2025, Oklo shares surged 14.49% to $120.20, extending a remarkable 60% monthly rally that has captivated Wall Street investors. The stock briefly touched $110 before momentum pushed it toward the $120 zone, with analysts noting the company’s nearly perfect momentum score of 99.70.
The trading volume has been exceptionally high, with 16.01 million shares changing hands compared to the 65-day average of 17.79 million. This represents 90% of the average trading volume, indicating sustained investor interest in the nuclear technology company.
US-UK Nuclear Partnership Drives Unprecedented Rally
The catalyst behind Oklo’s recent surge was the announcement of the landmark “Atlantic Partnership for Advanced Nuclear Energy” between the United States and United Kingdom. This multibillion-dollar agreement aims to accelerate the deployment of next-generation nuclear reactors and expand low-carbon energy capacity for heavy industries.
The partnership represents a significant validation of small modular reactor (SMR) technology, with both nations committing substantial resources to advance nuclear innovation. The agreement is expected to speed up regulatory approvals and create favorable conditions for companies like Oklo to commercialize their advanced reactor designs.
Industry experts view this cooperation as a turning point in transatlantic energy policy, signaling strong government support for nuclear solutions to meet growing electricity demands. The timing aligns perfectly with Oklo’s development timeline for its Aurora powerhouse reactors.
Artificial Intelligence Demand Creates Nuclear Opportunity
The unprecedented growth in artificial intelligence applications has created an energy crisis that positions nuclear power as a critical solution. According to the International Energy Agency, data centers consumed 460 TWh of electricity in 2022 and are projected to more than double to over 1,000 TWh by 2026.
Boston Consulting Group estimates that data centers will account for approximately 60% of total load growth between 2023 and 2030, creating what industry leaders including OpenAI’s Sam Altman and Elon Musk describe as an impending U.S. energy crisis. This massive electricity demand cannot be met by intermittent renewable sources alone, creating unprecedented opportunities for nuclear solutions.
Oklo has strategically positioned itself to capture this market through partnerships with major data center operators including Equinix and Vertiv Holdings. CEO Jacob DeWitte emphasized on the Q2 earnings call that the looming energy crunch creates a favorable backdrop for nuclear solutions, particularly compact reactors that can provide reliable baseload power.
Strategic Partnerships and Government Contracts Strengthen Position
Oklo’s ascent has been supported by key partnerships and bold projects that reinforce its position as a serious player in clean energy solutions. The company was selected by the U.S. Air Force in June 2025 to build a microreactor at Eielson Air Force Base in Alaska, with a capacity of up to 75 megawatts of combined electrical and thermal power.
The Air Force agreement represents a significant milestone for Oklo’s technology validation and provides crucial revenue visibility. The project will be designed, built, owned, and operated by Oklo on-site, helping the base reduce fuel deliveries and improve energy security.
Additionally, Oklo announced plans for a $1.68 billion Oak Ridge facility to recycle nuclear fuel, expected to create 800 jobs with operations starting in the early 2030s. This facility represents a major expansion of the company’s nuclear fuel recycling capabilities and diversifies its revenue streams beyond reactor operations.
The company has also secured collaborations with Lightbridge and ABB, and was selected for three projects under the U.S. Department of Energy’s Reactor Pilot Program. These strategic alliances provide technical expertise and regulatory support for Oklo’s advanced reactor development.
Financial Performance Reflects Growth Investment Strategy
Despite its impressive stock performance, Oklo continues to operate as a pre-revenue company with significant investment in research and development. The company reported a Q2 2025 net loss of $0.18 per share versus $0.11 expected, with an operating loss of $28 million driven by higher R&D expenses and Atomic Alchemy acquisition costs.
However, Oklo maintains a strong financial position with $683 million in cash and $731 million in total assets, supported by recent public offerings. The company projects cash burn of $65-80 million for fiscal year 2025, providing ample runway for long-term project development despite ongoing losses.
While losses are mounting as expected for a development-stage nuclear company, Oklo’s substantial cash buffer gives it the financial flexibility needed to pursue ambitious long-term projects and advance its Aurora reactor technology toward commercial deployment.
Market Capitalization Reflects Future Potential
With its current market capitalization of $18.5 billion, Oklo trades at a significant premium that reflects investor expectations for the nuclear energy market’s future growth. The stock’s valuation metrics show a Price/Book ratio of 41.3x compared to the sector average of 2.2x, indicating substantial growth expectations are built into the current price.
Analysts have varied views on Oklo’s prospects, with price targets ranging from $30 to $75, highlighting different perspectives on execution risk and market potential. Some analysts project potential revenue generation by Q1 2026 as the company moves closer to commercial reactor deployment.
The company’s unique owner-operator model aligns with customer preferences and has generated interest across established and growing markets, including artificial intelligence, data centers, energy, defense, and industrial applications. Oklo plans to sell power directly to customers under long-term contracts, aiming to provide consistent, recurring revenue and cash flow streams.
Regulatory Progress and Technology Development
Oklo has made significant regulatory progress, becoming the first company to submit an advanced fission custom combined license application to the Nuclear Regulatory Commission. The company received a site use permit from the U.S. Department of Energy and was awarded fuel material from Idaho National Laboratory.
Recent approval of the Safety Design Strategy for the Oklo Aurora Fuel Fabrication Facility marks an important milestone in the U.S. Department of Energy’s approval process. This regulatory advancement brings the company closer to commercial operations and validates its technology approach.
The Aurora powerhouse reactor represents Oklo’s flagship technology, designed to provide distributed, always-on power for mission-critical applications. The compact reactor design addresses the specific needs of AI data centers and industrial facilities that require reliable, continuous power supply.
Oklo’s extraordinary stock performance reflects growing investor confidence in nuclear energy’s critical role in meeting future electricity demands, particularly as artificial intelligence and data centers drive unprecedented power consumption growth.