New York, January 10, 2026, 04:59 EST — Market closed
- Oklo climbed 7.9% on Friday following Meta’s support for a 1.2-gigawatt nuclear project in Ohio
- Oklo said the agreement features a prepayment mechanism alongside early-stage funding.
- Investors are now focused on the timing of cash inflows, the licensing process, and upcoming disclosures
Oklo Inc shares jumped 7.9% on Friday, wrapping up at $105.31. The surge came after Meta Platforms threw its support behind a 1.2-gigawatt nuclear power campus in Ohio, linked to its expanding data-center operations.
Big Tech is rushing to lock in reliable power as data centers and AI drive up electricity demand, shifting companies toward long-term supply deals that resemble infrastructure financing rather than straightforward power purchases. Meta has signed 20-year contracts to buy nuclear energy from Vistra plants and said its total agreements might deliver up to 6.6 gigawatts of nuclear power by 2035. (Reuters)
Oklo, developing small modular reactors—compact nuclear plants meant for factory-style production—has landed a rare named customer commitment through its deal with Meta. This stands out in a sector where numerous projects often get stuck in the permitting phase.
Oklo announced Meta will prepay for power and provide funds aimed at boosting “project certainty.” The money will help Oklo secure nuclear fuel and kick off Phase 1 work at the Pike County site. Pre-construction and site characterization are planned for 2026, with Phase 1 slated for 2030 and a full 1.2 GW buildout by 2034. Meta’s Urvi Parekh described it as an investment in “baseload” nuclear power — generation that runs continuously. Oklo CEO Jacob DeWitte called the funding a “major step” forward. (Oklo)
A power purchase agreement, or PPA, is a long-term deal to buy electricity. Such contracts can ease financing, but Oklo still requires approvals from the U.S. Nuclear Regulatory Commission before selling commercial power.
Goldman Sachs analyst Brian Lee kept a Neutral rating on Oklo, setting a $106 price target. He noted that the prepay structure and early funding might help reduce risk in the initial stages. Still, he pointed out that Oklo must secure an NRC license and eventually lock in a solid PPA. (Streetinsider)
Oklo’s shares moved erratically today. They kicked off at $113.20, fluctuated from a low of $97.35 up to $120.87, then settled far below that peak. Volume surged to roughly 33.9 million shares, per market data.
The downside hasn’t shifted much. Oklo is still years away from its first power generation under the current schedule, and the U.S. hasn’t brought any small modular reactors into commercial use yet. Critics remain skeptical about whether these designs can compete on cost with large reactors or gas plants once real-world construction challenges emerge. Sam Altman is backing Oklo, the Financial Times reported.
U.S. markets remain closed for the weekend, leaving traders to watch for updates on Meta’s funding details and timing of cash disbursements. Any new information on licensing and site preparations will also be in focus. Trading resumes Monday, January 12.
