Updated: Friday, December 12, 2025 (after-hours)
Oklo Inc. (NYSE: OKLO) ended Friday with one of the sharpest drops among high-beta “AI infrastructure” names, then stabilized modestly in after-hours trading. The move comes as investors reassessed the near-term pace of the AI data-center buildout, a theme that has become tightly linked to Oklo’s long-term “clean baseload for hyperscalers” narrative. [1]
One practical note up front: U.S. stock markets do not open on Saturday, Dec. 13, 2025. The next regular session is Monday, Dec. 15, 2025—so the “before the open” checklist is really about what could break over the weekend and what may matter heading into Monday’s premarket.
OKLO stock price after the bell: the key numbers from Dec. 12, 2025
Oklo’s trading on Dec. 12 was defined by a steep intraday selloff and heavy volume:
- Regular-session close (4:00 p.m. ET):$87.42, down $15.58 (-15.13%) [2]
- Day’s range:High $103.14 / Low $87.34 [3]
- Volume: about 15.56 million shares [4]
- After-hours (early evening snapshot):$87.91, up about +0.56% from the close (as of roughly 6:34 p.m. ET on StockAnalysis) [5]
In short: a big risk-off day during market hours, followed by a small after-hours rebound that didn’t erase the damage.
Why did Oklo drop so hard on Dec. 12? The story investors traded today
1) “AI buildout” jitters hit anything tied to power, data centers, and capex
Friday’s broader tape was dominated by renewed anxiety around the AI investment cycle—notably concerns about profitability, spending intensity, and whether massive infrastructure timelines might slip. Reuters described a rotation away from tech as Broadcom and Oracle headlines revived “AI bubble” concerns, and specifically flagged Oklo as one of the AI-linked infrastructure names that sold off. [6]
This matters for OKLO because—fairly or not—the stock has increasingly traded as a high-volatility proxy for the idea that hyperscalers will need new, clean, firm power and will sign deals early to secure it.
2) Oracle/OpenAI data-center delay headlines rippled into “AI energy trade” stocks
A major catalyst referenced across market coverage Friday was a report that Oracle had pushed back completion dates for some OpenAI-related data centers—followed later by Oracle pushing back on the claim.
- Reuters reported Oracle denied delays to sites needed to meet contractual commitments, after a Bloomberg report cited labor and material shortages as reasons for pushing some completion dates to 2028. [7]
- Benzinga connected those data-center delay concerns directly to Oklo’s selloff, arguing that if physical data centers slow down, the urgency (and near-term revenue expectations) embedded in the “AI energy” narrative can cool quickly. [8]
Even though Oklo isn’t building Oracle’s data centers, it has been swept into the market’s “who powers AI?” basket—so headlines about delays can hit sentiment fast.
The financing overhang investors keep coming back to: Oklo’s $1.5B ATM program
Oklo is a pre-revenue company building capital-intensive nuclear projects, and capital strategy is a constant part of the stock’s day-to-day narrative.
On Dec. 4, 2025, Oklo disclosed an equity distribution agreement that allows it to sell up to $1.5 billion of Class A common stock “at the market” (ATM) via multiple major banks. [9]
Market commentary has repeatedly highlighted what this structure implies:
- Flexibility for Oklo to raise cash over time, but
- A persistent risk of dilution and added supply pressure if the program is actively used. [10]
That dilution sensitivity can intensify on days when momentum breaks—because traders start asking not only “what changed today?” but also “how much new supply could show up into any bounce?”
What analysts and commentators published on Dec. 12: forecasts and fresh takes
Analyst target ranges: bullish on paper, but extremely wide
Consensus-style snapshots show that Wall Street targets still span a wide band:
- StockAnalysis lists a consensus “Buy” and an average price target around $108.33, with targets ranging from $44 to $175. [11]
- MarketBeat’s recap Friday cited an average rating of Hold and an average price target around $102.87, while acknowledging some bullish targets as high as $150. [12]
That spread matters: wide target ranges typically signal high uncertainty about timelines, costs, regulatory milestones, and ultimately commercialization.
Recent rating actions still in focus (even if the stock sold off today)
Even in today’s down move, analysts’ aggressive targets from earlier in December remained part of the discussion:
- Benzinga noted that Needham and Seaport Global had recently published bullish targets of $135 and $150, respectively. [13]
- StockAnalysis’ “latest forecasts” table also reflects Seaport’s move to a more bullish stance and a $150 target dated Dec. 8. [14]
A more cautious institutional tone also exists
Investing.com published an analyst-rating piece referencing Goldman Sachs reiterating a Neutral rating and discussing Oklo’s strategy and planning assumptions (including multi-campus ambitions and customer structures). [15]
Commentary pieces published today leaned skeptical on near-term execution
Two separate Seeking Alpha analyses dated Dec. 12 emphasized a similar theme: Oklo’s valuation is heavily linked to AI-driven power demand, but the near-term path is still full of execution, regulatory, cost, and funding uncertainties.
- One piece explicitly argued that the $1.5B ATM could create a “supply overhang,” and suggested meaningful revenue could be later than many traders assume. [16]
- Another stressed uncertainties around feasibility and costs (including fuel), maintaining a negative view on the next 1–2 years. [17]
Whether you agree or not, the key takeaway for “before the next open” is that the market is actively debating time-to-revenue and capital needs again—and that debate can drive sharp re-ratings.
Options and positioning: what derivatives markets signaled today
OKLO also saw notable options activity on Friday:
- Nasdaq highlighted 90,027 OKLO option contracts traded, and called out especially high volume in a long-dated $20 strike put (expiring Jan. 15, 2027). [18]
- TipRanks/TheFly described “mixed options sentiment,” with about 101k contracts, calls leading puts, and a put/call ratio around 0.82 (roughly in line with typical levels). [19]
Heavy options flow doesn’t give a single “bullish” or “bearish” answer by itself, but it does reinforce something practical for traders and long-term holders alike: OKLO remains a volatility product, and options hedging/positioning can amplify moves—especially into and out of news catalysts.
Short interest: still elevated, which can magnify price swings
Short positioning remains meaningful:
- MarketBeat lists short interest around 20.14 million shares, about 15.90% of the public float (as of the Nov. 28 record date), with a short interest ratio around 1.4 days to cover. [20]
High short interest doesn’t automatically mean a squeeze is coming, but it does mean positioning is crowded enough that sharp reversals (up or down) can happen faster than in a typical mid-cap stock.
What to know before the next market open: a weekend checklist for OKLO holders
Because Dec. 13 is a Saturday (no U.S. equity session), here’s what’s most likely to matter heading into Monday, Dec. 15 premarket:
1) Follow-ups on the Oracle/OpenAI data-center timeline narrative
The market traded the idea of AI infrastructure delays on Friday, and then also processed Oracle’s denial. Any additional confirmations, clarifications, or new reporting over the weekend could reset sentiment quickly—especially for “AI power” names like OKLO. [21]
2) Broader AI risk appetite (macro + mega-cap catalysts)
Reuters framed Friday’s selloff as a rotation away from tech, citing AI profitability jitters and upcoming attention to economic data next week. If risk appetite stays weak into Monday, high-beta thematic names often feel it first. [22]
3) Any signal of incremental dilution or capital actions
With the $1.5B ATM now part of the backdrop, investors often watch for new filings, prospectus updates, or other disclosures that suggest the company is actively raising capital (or planning to). [23]
4) Watch the levels the market just “discovered”
Friday’s low around $87.34 is now a near-term reference point, simply because that’s where buyers finally showed up. [24]
Separately, technical models are all over the place—one widely circulated technical site even lists a “predicted fair opening price” for Dec. 15 near $92.72—but treat those as inputs, not facts. [25]
5) Options positioning after a big down day
With unusually large options volume reported Friday, keep an eye on whether Monday opens with continued hedging demand (or a volatility crush) depending on weekend headlines and premarket tape. [26]
Bottom line: what Friday’s action may be telling investors
Oklo’s Dec. 12 drop looked less like a single-company fundamental bombshell and more like a violent repricing of expectations—sparked by AI infrastructure anxiety (and Oracle/OpenAI headline risk), magnified by OKLO’s pre-revenue profile, financing sensitivity, and a market that is suddenly more skeptical of “long-duration” stories. [27]
For investors heading into the next session, the setup is straightforward:
- If AI infrastructure confidence stabilizes, OKLO can bounce hard (it often does).
- If “AI buildout delays + dilution worries” stays dominant, volatility can remain elevated, and the market may keep demanding clearer evidence on timelines, costs, and commercialization.
References
1. www.reuters.com, 2. stockanalysis.com, 3. stockanalysis.com, 4. stockanalysis.com, 5. stockanalysis.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.benzinga.com, 9. www.sec.gov, 10. www.sec.gov, 11. stockanalysis.com, 12. www.marketbeat.com, 13. www.benzinga.com, 14. stockanalysis.com, 15. www.investing.com, 16. seekingalpha.com, 17. seekingalpha.com, 18. www.nasdaq.com, 19. www.tipranks.com, 20. www.marketbeat.com, 21. www.reuters.com, 22. www.reuters.com, 23. www.sec.gov, 24. stockanalysis.com, 25. stockinvest.us, 26. www.nasdaq.com, 27. www.reuters.com
