New York, Jan 29, 2026, 14:30 ET — Regular session
Oklo Inc shares dropped roughly 9% on Thursday, pulling back some of the gains from the prior day as investors pared positions in the volatile nuclear power sector. The stock slipped 9.3% to $85.59 in afternoon trading, fluctuating between $83.56 and $94.89. It had closed Wednesday at $94.39.
Oklo has become a stand-in for the wager that data centers and heavy industry will shell out for consistent, carbon-free energy amid rising U.S. electricity demand. This has made the stock especially reactive to policy news and analyst opinions, despite slow progress on the projects themselves.
The company is working on advanced fission plants and fuel recycling technology, yet investors are buying the shares based on hopes for contract wins and regulatory breakthroughs. That disconnect between long-term milestones and the daily trading is fueling the stock’s swings.
The sell-off dragged down peers as well. NuScale Power dropped roughly 8%, with BWX Technologies and Vistra each falling between 2% and 3%. The S&P 500 ETF SPY slipped about 0.5%, while the Nasdaq-100 tracker QQQ dropped near 1%.
Oklo surged Wednesday following a new Buy rating from Texas Capital Securities analyst Nate Pendleton, who set a $138 price target, Benzinga reported. (Benzinga)
Moves like that have pulled in fast money. Oklo remains a long-term play, yet it’s pricing as if it could shift on a dime.
Earlier this month, Oklo announced a deal with Meta Platforms to back a planned 1.2-gigawatt power campus in Pike County, Ohio. The arrangement includes a way for Meta to prepay for power and bankroll early-stage work. Oklo CEO Jacob DeWitte confirmed the company had “finalized the purchase” of over 200 acres for the site. Meta’s head of global energy, Urvi Parekh, added the agreement would drive the development of “1.2 gigawatts” of nuclear energy in southern Ohio. (Oklo)
Federal funds are flowing into the sector. In December, the Energy Department handed out $400 million grants each to Holtec and the Tennessee Valley Authority to accelerate the rollout of light-water small modular reactors. A TVA spokesperson told Reuters Events the utility is collaborating with Oklo and others to prepare the supply chain. (Reuters)
Oklo’s valuation hinges on milestones that won’t arrive for years, reliant on licensing, fuel supply, and customer financing. Miss one deadline or see risk appetite shift, and the shares could take a sharp hit.
On Wednesday, the Energy Department put out a request for information, an initial move to collect input, asking states to suggest locations for “Nuclear Lifecycle Innovation Campuses.” These sites could host advanced reactors alongside data centers. Responses are due by April 1. Energy Secretary Chris Wright said the campuses would allow the department to coordinate with states on “regional priorities” as part of the administration’s push to grow nuclear power. (Reuters)
