美国核电公司Oklo(OKLO.US)涨超8%，报112.57美元。消息面上，Oklo第三季度净亏损从去年同期的 约1000万美元扩大至2970万美元，分析师预期亏损1820万美元。当地时间周二，美国能源部批准了Oklo 计划在爱达荷国家实验室建设的燃料制造设施的核安全设计协议。这一进展为该公司首个商业规模电站 Aurora-INL的燃料供应扫清障碍，也为2026年中期前完成试点反应堆的严格时间表增添信心。(格隆汇) ...

Group 1 - Oklo reported a Q3 loss of $36.3 million with zero revenue, marking a per-share loss of 20 cents compared to an 8-cent loss a year earlier [2] - The stock of Oklo has been declining since reaching a record high last month [2] - The performance of nuclear energy stocks has been negatively impacted, contrasting with gains in other sectors such as Amgen, which saw a 14% increase over five sessions [2][5] Group 2 - Vistra, a major player in the nuclear sector, experienced a 21% revenue decline and narrowed its 2025 outlook [5] - A top uranium refiner claims to be at the forefront of the global nuclear resurgence but also missed earnings expectations [5] - An analyst suggests it may be time to accumulate shares in a leading nuclear stock despite a surprise 20% profit gain [5]

Eighty years after J. Robert Oppenheimer's chain reaction lit up the New Mexico desert, Oklo Inc (NYSE:OKLO) is channeling that spirit. But this time it’s to build power data centers, not bombs. Oklo CEO Jacob DeWitte told investors the company's Idaho project is moving at "Manhattan Project–level speeds.”Track OKLO stock here.On the company’s third-quarter earnings call, DeWitte acknowledged a Department of Energy fast-track that allows Oklo to build reactors while it's still being licensed.Related: Oklo V ...

Power Generation and Technology - The Aurora powerhouses are designed to produce between 15-75 MWe, with potential expansion to 100 MWe and higher, tapping into energy reserves equivalent to approximately 1.2 trillion barrels of oil equivalent[122]. - The company has secured a site use permit from the DOE for the INL site and received a fuel award of five metric tons of HALEU for a commercial Aurora powerhouse in Idaho[123]. - A Memorandum of Agreement with the DOE allows site investigations in Idaho, marking a key step toward construction[124]. - The company has signed non-binding letters of intent with major clients, including a 12 GW Master Power Agreement with Switch data centers, potentially increasing the order book to approximately 18,100 MWe in capacity[128]. - The company plans to deploy a commercial-scale fuel recycling facility by the early 2030s, with the potential to power the U.S. electrical needs for 100 years using existing used nuclear fuel[138]. - The acquisition of Atomic Alchemy for approximately $28.4 million aims to enhance capabilities in radioisotope production, addressing increasing market demands[139]. - The company has completed a Phase I pre-application readiness assessment with the NRC, reinforcing its technical and regulatory preparation for the Combined License application[125]. - The company is developing a diversified fuel strategy to mitigate rising fuel costs and supply chain constraints, including evaluating alternative fuel materials[131]. - The Aurora Fuel Fabrication Facility has received DOE approval for its Safety Design Strategy and is part of the DOE Fuel Pilot Line program[129]. - The company anticipates that future powerhouses will benefit from substantial cost reductions compared to the first few reactors due to improved operational efficiency[136]. - The Company plans to deploy its first powerhouse by 2028, focusing on regulatory approvals and partnerships related to fuel sourcing and construction[153]. - The NRC accepted the Company's PDC topical report for review, establishing a regulatory framework for future reactor licensing and design activities[151]. - The Company aims to be the designer, builder, owner, and operator of small-scale powerhouses, with a focus on reducing lifecycle regulatory and operating costs[152]. - The Company is engaged in various initiatives to progress regulatory approvals and partnerships, including fuel recycling and manufacturing activities[153]. - The nuclear energy industry remains politically sensitive, with ongoing federal support for advanced nuclear technologies and regulatory streamlining initiatives[155][156]. Financial Performance - The Company filed a registration statement for a public offering of up to $1 billion in securities, including 6,666,667 shares of common stock, which generated total net proceeds of approximately $440.1 million[140][142]. - An Equity ATM Program was initiated, allowing the sale of shares up to $400 million, with 5,458,953 shares sold at an average price of $73.27 per share, resulting in gross proceeds of $400 million[143]. - The ATM Program was expanded by an additional $140 million, with 1,925,066 shares sold at an average price of $72.72 per share, generating gross proceeds of $140 million[144]. - Total operating expenses for the nine months ended September 30, 2025, were $82.2 million, with an expected net cash used in operating activities for 2025 projected between $65 million and $80 million[154]. - As of September 30, 2025, the Company had cash, cash equivalents, and marketable debt securities totaling $1,183.6 million, with an accumulated deficit of $199.3 million[165]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $48.7 million, an increase of $33.9 million compared to $25.0 million in the same period in 2024[171]. - Total operating expenses for the nine months ended September 30, 2025, were $82.2 million, a 119.6% increase from $37.4 million in 2024[181]. - Research and development expenses for the nine months ended September 30, 2025, increased by $14.8 million, or 76.3%, totaling $34.3 million compared to $19.4 million in 2024[182]. - General and administrative expenses for the nine months ended September 30, 2025, rose by $29.9 million, or 166.4%, reaching $47.9 million compared to $18.0 million in 2024[184]. - Cash provided by financing activities for the nine months ended September 30, 2025, was $968.1 million, significantly higher than $276.2 million in 2024[175]. - Interest and dividend income for the nine months ended September 30, 2025, increased by $10.1 million, or 230.0%, totaling $14.5 million compared to $4.4 million in 2024[186]. - The net loss for the nine months ended September 30, 2025, was $64.2 million, a slight increase of 4.8% from a net loss of $61.3 million in 2024[181]. - Cash and cash equivalents at the end of the period for September 30, 2025, were $410.0 million, compared to $91.8 million at the end of September 30, 2024[170]. - Cash used in investing activities for the nine months ended September 30, 2025, was $605.9 million, compared to $194.0 million in 2024[170]. Regulatory and Compliance - The company recorded a deferred income tax benefit of $4.7 million related to acquired deferred tax liabilities during the nine months ended September 30, 2025[187]. - The company intends to take advantage of the extended transition period provided by the JOBS Act, allowing it to delay compliance with new or revised financial accounting standards[191]. - Recent accounting standards have been adopted and additional information is available in the notes to the unaudited condensed consolidated financial statements[192]. - The company is classified as a "smaller reporting company," which exempts it from certain market risk disclosures[193].

Market Overview - Major U.S. indices closed mixed, with the Dow Jones Industrial Average up 1.2% to 47,927.96 and the S&P 500 up 0.2% to 6,846.61, while the Nasdaq fell 0.25% to 23,468.30 [1] Advanced Micro Devices Inc. (AMD) - AMD shares closed down 2.65% at $237.52, with an intraday high of $248.46 and a low of $234.64; however, the stock rose nearly 4.8% to $248.87 in after-hours trading [1][2] - AMD set ambitious growth targets during its analyst day, anticipating a revenue compound annual growth rate exceeding 35% over the next three to five years, driven by its expanding portfolio in high-performance and AI compute [2] Oklo Inc. (OKLO) - Oklo's stock fell 6.50% to close at $104.22, with a high of $111 and a low of $103.64; it rose nearly 1.8% to $106.09 in extended trading [3][4] - The company reported a wider-than-expected loss for Q3, with a loss of $0.20 per share, missing analyst expectations of a 12-cent loss, primarily due to payroll and stock-based compensation expenses [3] - The Department of Energy approved the Nuclear Safety Design Agreement for Oklo's Aurora Fuel Fabrication Facility, which will supply fuel for its first commercial-scale reactor [4] AppLovin Corp. (APP) - AppLovin shares declined 8.66% to finish at $594.91, attributed to a broader market pause in the high-growth tech sector rather than company-specific news [5] Viking Therapeutics Inc. (VKTX) - Viking Therapeutics saw a 7.49% increase, closing at $40.60, with a high of $40.69 and a low of $37.06; it rose 4.1% to $42.28 in after-hours trading [6] - Stanley Druckenmiller's family office purchased about 549,000 shares at $25.33 in Q2, with renewed investor optimism around the company's weight-loss drug pipeline [7] Novo Nordisk A/S (NVO) - Novo Nordisk shares rose 6.99% to $49.15, with an intraday high of $49.42 and a low of $47.05; the stock rose 1.3% to $49.79 in after-hours trading [8] - Despite losing a bidding war for Metsera Inc. to Pfizer, Novo Nordisk's stock gained as the company cut the price of its Wegovy drug in India to capture market share in the obesity treatment market [8]

Market Overview - The S&P 500 has shown resilience during earnings season, tariffs, and the government shutdown, only pulling back about 4% from all-time highs [2] - A bullish reversal candlestick formed at the 50-day moving average, indicating strong support and a continuation of the upward trend [3] - Despite some underlying issues like weakening breadth and volatility, bullish sentiment remains strong, with November historically being a strong month for market performance [4] Sector Performance - Ten out of eleven sectors are showing positive momentum, with a favorable advanced decline ratio and strong up to down volume [5][6] - Notable stocks such as Walmart, Netflix, and Microsoft are performing well, indicating broad market strength [6] Company Analysis: Oaklo - Oaklo has experienced a remarkable 1,000% increase from its yearly lows to highs [7] - The stock has faced resistance at the 423.6% Fibonacci retracement level, indicating a potential stall in its upward trend [8] - A bearish divergence in the RSI suggests caution, with a head and shoulders pattern indicating a possible reversal [9] Company Analysis: Expedia - Expedia has shown a bullish basing pattern followed by consolidation, setting the stage for potential upward movement [11] - A larger cup and handle pattern has completed, indicating long-term bullish potential [12] - The stock has more than doubled in price since its yearly low, with resistance levels around 285 and support around 256 [13][14]

Group 1 - Oaklo has received approval from the US Department of Energy for the nuclear safety design agreement for its Aurora fuel fabrication facility at Idaho National Laboratory, establishing a faster authorization pathway for US nuclear fuel production [1][2] - The Vinfast VF9 has established a presence in Canada's electric vehicle market as a full-size luxury electric SUV, offering a range of up to 518 km and 42 horsepower, appealing to families and professionals [2] - Hessi technology has been selected by Lee Auto as the exclusive lighter supplier for its next generation assisted driving platform, enhancing intelligent driving safety through automotive grade LAR technology [3] Group 2 - Wallbox has introduced the Supernova Power Ring, a modular fast charging system capable of delivering up to 400 kW per vehicle and a total shared capacity of 720 kW for destination and semi-public sites, maximizing efficiency and cost-effectiveness [3][4] - The Supernova Power Ring allows for intelligent power distribution across multiple chargers, providing scalable configurations to meet varying site demands [4]

Core Viewpoint - Oklo, a U.S. nuclear startup, reported significant losses in its latest financial results, with no revenue generated and increased operating and net losses compared to the previous year [1][2]. Financial Performance - For Q3 2025, Oklo reported an operating loss of $36.31 million, up from $12.28 million in Q3 2024 [2]. - The net loss for the same period was $29.72 million, compared to $9.96 million in Q3 2024, with a loss per share of $0.20, exceeding analyst expectations of $0.13 [1][2]. - Total operating expenses for the nine months ended September 2025 reached $82.20 million, significantly higher than the previous year's figures [2]. Stock Performance - Oklo's stock has seen a decline of over 20% since reaching a historical high in November, with a cumulative drop of approximately 46% since October 15, when it peaked at $193.84 [3]. - Despite the recent downturn, the stock has increased by about 391% year-to-date, driven by strong market interest in energy demands from AI data centers [3]. Industry Support - The U.S. government, through Energy Secretary Chris Wright, announced funding support for new nuclear power plant construction, with $300 to $400 million allocated to assist initial projects [4]. - Analysts view this as a significant development, noting Oklo's strong recognition within the government and its alignment with federal energy initiatives [4]. - Oklo has been selected to participate in three pilot reactor projects by the U.S. Department of Energy, indicating its strategic importance in the nuclear sector [4].

Financial Data and Key Metrics Changes - Oklo reported a third-quarter operating loss of $36.3 million, including non-cash stock-based compensation of $9.1 million [43] - The loss before income taxes was $29.2 million, reflecting an operating loss adjusted for net interest income of $7.1 million [44] - The company closed the quarter with approximately $1.2 billion in cash and marketable securities, with cash burn tracking in line with expectations [14][45] Business Line Data and Key Metrics Changes - Oklo's Advanced Fuel Center represents a significant investment of up to $1.68 billion, anchoring the long-term fuel supply chain [11] - The company achieved key regulatory milestones, including the approval of the Nuclear Safety Design Agreement for the Aurora Fuel Fabrication Facility [12] - The Reactor Pilot Program awarded Oklo three projects, enhancing its position in advanced nuclear energy deployment [15][16] Market Data and Key Metrics Changes - Oklo signed new international partnerships with European companies Moltex and Nucleo to advance technology and fuel manufacturing capabilities [41][42] - The company is evaluating potential power sales with the Tennessee Valley Authority as part of its Tennessee Fuel Center initiative [13] Company Strategy and Development Direction - Oklo's mission is to deliver clean, reliable, affordable energy at a global scale, focusing on advanced nuclear power as a transformative energy solution [5] - The company employs a build, own, operate model to create recurring revenue through long-term contracts, streamlining regulatory processes [6] - Oklo's strategy includes leveraging its scalable design and proven technology to deploy assets quickly and efficiently [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Oklo's unique positioning to thrive in the evolving advanced nuclear sector, driven by federal support and growing customer interest [5][6] - The company anticipates that the new DOE authorization pathway will accelerate construction and operational timelines for its projects [17][19] - Management highlighted the importance of building partnerships and securing long-term contracts with customers to de-risk operations [59][61] Other Important Information - Oklo's Advanced Fuel Center in Tennessee is the first privately funded recycling facility of its kind in the U.S., expected to create over 800 permanent jobs [37] - The company is actively working on regulatory engagement for its Tennessee facility, which could benefit from the proposed Nuclear Refuel Act of 2025 [39] Q&A Session Summary Question: Does the INL plant shifting to the DOE pathway change the requirement to submit a COLA with the NRC? - Management confirmed that the DOE authorization process eliminates the need for a COLA, allowing for a more flexible construction timeline [51][56] Question: Are you still targeting commercial operations at INL to commence between late 2027 and early 2028? - Management reiterated the target timeline for the Aurora INL plant to commence operations in 2027-2028, with the DOE pathway enabling quicker construction activities [65][69]

Financial Data and Key Metrics Changes - Oklo reported a third-quarter operating loss of $36.3 million, including non-cash stock-based compensation of $9.1 million [43] - The loss before income taxes was $29.2 million, reflecting an operating loss adjusted for net interest income of $7.1 million [44] - The company closed the quarter with approximately $1.2 billion in cash and marketable securities, with cash burn tracking in line with expectations [14][45] Business Line Data and Key Metrics Changes - The company has made significant progress in licensing, project execution, fuel development, partnerships, and customer pipeline [9] - Oklo's Advanced Fuel Center represents a $1.68 billion investment aimed at anchoring the long-term fuel supply chain [11] - The company achieved a key regulatory milestone with the Department of Energy's approval of the Nuclear Safety Design Agreement for the Aurora Fuel Fabrication Facility [11] Market Data and Key Metrics Changes - Oklo was selected for three projects under the Department of Energy's Reactor Pilot Program, which accelerates deployment timelines [9][15] - The company is evaluating potential power sales with the Tennessee Valley Authority as part of its Tennessee Fuel Center initiative [13] Company Strategy and Development Direction - Oklo's mission is to deliver clean, reliable, affordable energy at a global scale, focusing on advanced nuclear power [5] - The company employs a build, own, operate model that allows for direct power sales under long-term contracts, creating recurring revenue [6] - Oklo is building on its proven technology to become a hub for metal fuel and fast reactor innovation, integrating design, licensing, fuel supply, and recycling [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Oklo's unique positioning to thrive in the current advanced nuclear sector environment, driven by federal programs and growing customer interest [5] - The company anticipates that the new DOE authorization pathway will accelerate construction and operation timelines for its projects [17][19] Other Important Information - Oklo's partnerships with European companies Moltex and Nucleo aim to advance joint technology and fuel manufacturing capabilities [41][42] - The company is focused on building a resilient, diversified fuel strategy to adapt to changing market dynamics [30][36] Q&A Session Summary Question: Does the INL plant shifting to the DOE pathway change the requirement to submit a COLA with the NRC? - Management confirmed that the company no longer needs to submit a COLA, as it is going through the DOE authorization process, which allows for more flexibility in construction [51][56] Question: Are you still targeting commercial operations at INL to commence between late 2027 and early 2028? - Management stated that they are still targeting the 2027-2028 timeline for the Aurora INL plant to commence operations, with the DOE pathway allowing for quicker construction activities [65][69]