Oklo (NYSE:OKLO) is a nuclear-energy startup backed by Sam Altman, who founded and runs OpenAI, the creator of ChatGPT. Altman currently serves as Oklo’s chairman. The company started trading at the end of last week after closing its special purpose acquisition company (SPAC) merger, and the shares slumped 50% on Friday. However, OKLO stock is up 4% in early trading after the firm announced a new partnership with Atomic Alchemy.
In general, there seems to be a good deal of interest in Oklo and OKLO stock due to the company’s ties to Altman.
Altman’s Connections to Oklo and OKLO Stock
The tech genius convinced Oklo to join his Y Combinator start-up incubator in 2013 and led its seed-funding round in 2015. Altman also was the co-founder of AltC Acquisition Corp, the SPAC that merged with Oklo.
Altman has said that he believes society needs a great deal of affordable, clean power and that it will be difficult to meet that goal without utilizing large amounts of nuclear energy.
He has noted that AI requires lots of power.
Under the deal, the companies will work together to produce radioisotopes from Oklo’s reactors. According to the firms, “industrial and medical isotopes” can be used to treat diseases, including cancer, and to power “clean energy technologies.”
Additional Things to Know About Oklo
A pre-revenue company, Oklo is building its first nuclear reactor in Idaho and seeking to create reactors that are significantly smaller than those that are widely used now. Eventually, the firm would like to sell its power to the U.S. military and large tech firms.
The start-up says that its reactors will offer “robust inherent safety performance” and will be “self-stabilizing, self-controlling, and cooled by natural forces.” As a result, they will be “walk-away safe,” according to the firm. Oklo added that the waste that its reactors generate can be used as fuel.
The firm hopes to launch its first plant in 2027.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
