Exhibit 99.1 FY 2024 Shareholder Letter Letter to shareholders Dear shareholders, The world is catching up to what we've known all along: nuclear power is essential to a clean, dependable, and scalable energy future. In 2024, Oklo took bold steps to lead this transformation. We went public, advanced development at our first commercial site at Idaho National Laboratory (INL), and built a customer pipeline of ~14 GW-one of the largest in our field. At the same time, nuclear energy has gained unprecedented gov ...

Operational Risks - The company has not yet constructed any powerhouses or entered into binding contracts with customers for electricity or heat delivery, which poses significant operational risks[58] - The company is an early-stage entity with a history of financial losses and expects to incur significant expenses and continuing losses until its powerhouses become commercially viable[64] - The company relies on high-assay low-enriched uranium (HALEU) for its powerhouses, which is currently not available at scale, potentially affecting fuel manufacturing and power production[71] - The U.S. government has allocated $700 million for HALEU development, but the program is still in early stages, and significant progress is needed for reliable production[73] - The construction and delivery timelines for powerhouses may increase due to various factors, including contractor performance and procurement challenges[65] - The company faces risks related to acquisitions, divestitures, or joint ventures, which could disrupt operations and financial results[68] - The company’s management has limited experience in operating a public company and in the nuclear power sector, which may impact decision-making[63] - The company’s ability to forecast future results is limited due to its evolving industry and changing market conditions, which may lead to operational results below investor expectations[62] Revenue Generation Challenges - The company has entered into contingent non-binding letters of intent for power purchases, but these may not lead to binding agreements, delaying revenue generation[61] - Non-binding agreements with customers may be rescinded, adversely affecting revenue streams and project timelines[83] - Fluctuations in energy prices could impact the viability of power purchase agreements, especially if contract prices are fixed[89] - Penalties for not delivering sufficient energy on schedule may adversely affect profitability and cash flow[90] - The novelty of the business model for deploying fission power plants may introduce uncertainties that could impact business projections[92] Market and Competitive Landscape - The company’s business model of directly providing power to customers is unique in the nuclear industry, presenting both opportunities and challenges[63] - The company faces competition from existing and new technologies, which could lead to downward pressure on prices and reduced margins[106] - The cost of electricity generated from the company's powerhouses may not be competitive with other energy sources, impacting business prospects[110] - The market for alternative carbon-free energy generation technologies may not achieve expected growth, adversely affecting the demand for the company's powerhouses[104] Regulatory and Compliance Issues - The company has not received any regulatory approvals for its powerhouses, and the timing of such approvals is uncertain, which could affect its ability to meet construction and operation timelines[161] - The company must obtain governmental licenses to transport and use radioactive materials, and delays in obtaining these licenses could materially affect its business operations and cash flows[162] - The NRC has not yet established an oversight program for advanced reactors, which could substantially affect the operation of the company's commercial facilities[163] - Any penalties imposed by the NRC for regulatory violations could adversely affect the company's results of operations and liquidity[165] - The NRC's current framework has not been applied to license a commercial nuclear fuel recycling facility, and there is no guarantee of support for the proposed facility on the anticipated timeline[169] - Changes in federal, state, and local government policies could significantly impact the company's operations and business plans, including regulatory oversight and financial incentives[173] Financial and Funding Concerns - The company expects to require additional funding to support operations and growth plans due to recurring losses and significant ongoing operating expenditures[206] - The company does not anticipate generating meaningful revenue until the Aurora product line is finalized and commercialized, with expenses and capital expenditures expected to increase[207] - The company may need to make significant adjustments to its business plan or delay, scale back, or discontinue deployments of facilities and research programs due to funding shortfalls[200] - The company relies on capital raises as its primary source of funding, with no substantial doubt about its ability to continue as a going concern for the next year[208] - The company’s financial results may vary significantly from quarter to quarter due to factors such as customer contract terms and demand variability[212] Intellectual Property and Cybersecurity - The company relies on a combination of patents, trademarks, copyrights, and trade secret laws to protect its intellectual property, but faces challenges in enforcing these rights[123] - Patent applications may not result in issued patents, and failing to obtain patent protection could adversely affect the company's competitive position[124] - The company may need to defend against intellectual property infringement claims, which could incur substantial costs and divert management's focus[130] - Cybersecurity risks pose a significant threat to the company's IT systems, potentially leading to data breaches and reputational damage[136] - The company is subject to evolving laws and regulations regarding data privacy and security, which could require significant compliance costs and operational changes[141] Economic and Environmental Factors - Inflation and rising costs may disproportionately impact the company, affecting its competitiveness and ability to operate fuel fabrication and recycling facilities[142] - Uncertain global macroeconomic and political conditions could materially adversely affect the company's business prospects, financial condition, results of operations, and cash flows[143] - The ongoing military conflict in Ukraine has led to sanctions that present potential supply chain risks, particularly affecting the availability and cost of HALEU, which could increase the cost of uranium enrichment services[145] - Global supply chain disruptions have increasingly affected the availability and cost of materials, which may result in delays in equipment deliveries and cost escalations, adversely impacting the company's business prospects and financial performance[146] - The direct and indirect impacts of climate change could adversely affect the company's financial condition, operating results, and cash flows, including increased costs from natural disasters[148] Internal Control and Governance - A material weakness in internal control over financial reporting has been identified, specifically related to complex accounting matters associated with the business combination with AltC[229] - The company plans to improve processes and controls regarding third-party information review and amendments to agreements to remediate the identified material weakness[231] - Failure to effectively implement controls required by the Sarbanes-Oxley Act could negatively impact the company's business and investor confidence[228] - The company has provisions in its bylaws that may discourage or delay transactions involving a change in control, potentially affecting minority stockholders[224] - The existence of certain provisions may adversely affect the market price of the company's common stock if perceived as discouraging future takeover attempts[224] - The company is not required to comply with new or revised financial accounting standards until private companies are required to do so, as per the JOBS Act[226] - If the material weakness is not remediated, it could result in misstatements of account balances or disclosures, adversely affecting investor confidence[230] - The company may face regulatory scrutiny and potential sanctions if it fails to maintain adequate internal controls over financial reporting[228]

Group 1: Market Context - U.S. stocks are under pressure due to President Trump's shift towards protectionist economic policies, creating potential buying opportunities for long-term investors [1] - Market pullbacks have historically provided exceptional opportunities for long-term investors willing to embrace volatility [12] Group 2: Palantir Technologies - Palantir Technologies is a leading provider of decision optimization software through its proprietary AI platforms, with a stock price that has retreated 27% from its 52-week high [2] - Wall Street anticipates approximately 58% revenue growth for Palantir over 2025 and 2026, justifying its high forward earnings multiple of 169 times [2] - The company's ontology framework enables advanced decision-making by establishing undiscovered relationships within complex datasets, with platforms Gotham and Foundry serving government and commercial clients respectively [3] - Palantir's innovative boot camp sales approach and AI orchestration capabilities position it for continued expansion amid early-stage enterprise AI adoption [4] - Despite its premium valuation, Palantir's long-tailed growth trajectory and importance in the U.S. military ecosystem are noteworthy [5] Group 3: Oklo - Oklo is a developer of advanced fast fission power plants aimed at providing clean, reliable energy, particularly in response to the high electricity demands of AI data centers [7] - The stock has declined 51% from its 52-week high and is currently operating cash flow negative, yet it offers exposure to the AI-powered future through energy infrastructure [8] - Oklo has achieved significant milestones towards deploying its first commercial powerhouse in Idaho, with agreements finalized with the U.S. Department of Energy and Idaho National Laboratory [9] - The company's Aurora powerhouses aim to meet the growing energy demands of AI infrastructure with carbon-free nuclear power [9] - Oklo's focus on next-generation fission technology positions it strategically at the intersection of clean energy and AI computing needs, though it faces risks from lengthy regulatory approval processes [10] - For investors seeking exposure to the infrastructure required for the AI revolution, Oklo represents a speculative but potentially transformative addition to a growth portfolio [11] Group 4: Investment Considerations - Palantir and Oklo represent distinct approaches to capturing growth, with Palantir focusing on software for decision-making and Oklo on next-generation energy infrastructure [12] - Both companies carry different risk profiles, with Palantir's premium valuation and Oklo's pre-revenue status and regulatory hurdles, yet both offer significant upside potential [13]

Oklo, Inc. (OKLO) is slated to report fourth-quarter 2024 results on March 24, after market close.     Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for the fourth-quarter bottom line is pegged at a loss of 8 cents per share, suggesting a slight improvement from a loss of 9 cents reported in the prior-year quarter. The bottom-line estimate has remained unchanged in the past 60 daysImage Source: Zacks Investment ResearchOKLO’s earnings came in line with ...

Core Insights - The demand for GPUs is surging, leading to increased power consumption and a forecasted 100x growth in compute needs for next-generation AI models, indicating a sustained demand for nuclear energy as a sustainable power source [2] Group 1: Nuclear Industry Developments - Major tech companies like Amazon, Meta, and Alphabet have pledged to support the expansion of nuclear power, aiming to triple global nuclear capacity by 2050, despite the current limited project pipeline [3][4] - There are currently 60 atomic projects under construction globally, primarily in Asia, representing only a 13% increase from the 440 operational reactors [4] Group 2: Company-Specific Insights - NuScale Power is a leader in small modular reactors (SMRs), with plans to bring the first reactors online within 3-5 years and currently has 12 modules in production [5][6] - Analysts predict that NuScale Power will not generate significant revenue until 2030, with revenue expected to exceed $1 billion only after that [7] - Oklo focuses on liquid-metal-cooled fast reactors, which can operate at lower temperatures and reuse spent fuel, with initial projects set to commence operation in the coming years [9][11] - Cameco is a leading supplier of uranium fuel and reactor components, currently profitable and paying dividends, with revenue growth tracking higher over time [13][14]

Core Viewpoint - Oklo Inc. is outperforming its peers in the Oils-Energy sector, with a year-to-date return of 23.7% compared to an average loss of 1.9% for the sector as a whole [4]. Company Performance - Oklo Inc. has a Zacks Rank of 2 (Buy), indicating a favorable outlook based on earnings estimate revisions and improving earnings outlooks [3]. - Over the past 90 days, the Zacks Consensus Estimate for Oklo's full-year earnings has increased by 1.4%, reflecting improved analyst sentiment [4]. - The stock belongs to the Alternative Energy - Other industry, which has seen an average loss of 2.3% this year, further highlighting Oklo's strong performance relative to its industry [6]. Sector and Industry Context - The Oils-Energy sector includes 247 individual stocks and currently holds a Zacks Sector Rank of 8 out of 16 sector groups [2]. - Coterra Energy, another stock in the Oils-Energy sector, has also outperformed with a year-to-date increase of 2.2% and a Zacks Rank of 2 (Buy) [5]. - The Oil and Gas - Exploration and Production - United States industry, to which Coterra Energy belongs, has experienced a significant decline of 24.2% this year [7].

Core Insights - Oklo Inc. has joined the U.S. Department of Energy Voucher Program to test advanced structural materials for its Aurora powerhouse, aiming to enhance manufacturing efficiencies and accelerate commercial deployment [1] - The partnership is expected to attract long-term growth investors in the nuclear energy sector [2] Stock Performance - Oklo's shares have surged 189.5% over the past year, outperforming the Zacks Alternative-Energy industry's return of 49.4%, the Oils-Energy sector's decline of 0.2%, and the S&P 500's increase of 16.2% [3] - Other industry players like GEV Vernova, Constellation Energy Corporation, and Bloom Energy have also shown strong performance, with share increases of 158.3%, 141.1%, and 113.7% respectively [4] Growth Drivers - The global shift towards clean energy and Oklo's strong quarterly performance have contributed to the increase in share price [5] - In Q3 2024, Oklo added two data center customers, increasing its announced customer pipeline to 2,100 megawatts, a 200% increase since July 2023 [6] - Oklo signed a Memorandum of Understanding with Lightbridge Corporation to enhance fuel recycling capabilities and a non-binding Master Power Agreement with Switch to deploy 12 gigawatts of projects through 2044 [7] Strategic Positioning - Oklo has finalized a Memorandum of Agreement with the DOE Idaho Operations Office, allowing site investigations at its preferred site in Idaho, positioning it to deploy the first commercial advanced fission power plant in the U.S. [8] - The company is developing next-generation fast-fission power plants, with the Aurora line designed to generate 15-50 megawatts electric, scalable up to 100 MWe [11] Financial Outlook - Oklo has yet to generate revenues, with its first Aurora powerhouse set for deployment in 2027, indicating limited near-term performance [12] - The Zacks Consensus Estimate for losses per share for Q1 and full-year 2025 shows no movement, suggesting analysts expect current conditions to remain stable [14] - Year-over-year growth estimates indicate improvement, with a projected 98.12% growth for the current year and 95.73% for the next year [15][16] Valuation Metrics - Oklo's trailing 12-month Price/Book (P/B) ratio is higher than its industry average, indicating investor optimism about its growth prospects [18] Investment Consideration - Investors interested in clean-energy stocks may consider adding Oklo to their portfolio due to its impressive P/B ratio, long-term growth potential, and strong share price performance [19]

Core Viewpoint - Market corrections are a natural part of investing, and while they can be painful, they also present opportunities for savvy investors to capitalize on market extremes [1][8]. Group 1: Market Corrections and Investor Behavior - Over the past decade, Wall Street has experienced several corrections and bear markets, with amateur investors often losing money due to fear [1]. - Legendary mutual fund manager Peter Lynch noted that more money has been lost by investors trying to anticipate corrections than in the corrections themselves [2]. - Investors should adopt an opportunistic mindset during market corrections, understanding their time frame and risk management strategies [2]. Group 2: High-Beta Stocks Performance - High-beta stocks, which exhibit greater price volatility, have suffered significant losses during the current market correction, similar to the declines seen during the S&P 500's 30% drop in March 2020 [3]. - Notable high-beta stocks affected include Tesla (TSLA), Rigetti Computing (RGTI), and Oklo (OKLO) [3]. Group 3: Technical Indicators - The Nasdaq 100 Index ETF (QQQ) has retreated to its 200-day moving average for the first time since August, which historically has led to significant upward movements in the following weeks [5]. - The CNN "Fear & Greed" Index has reached its most fearful level since August 2024, coinciding with the QQQ testing its 200-day moving average [7]. - The VIX, a fear indicator, has seen a significant increase, reaching a level of 69, the highest since the COVID-19 market crash in 2020 [8].

Core Viewpoint - Oklo Inc experienced a significant stock market fluctuation, dropping 13.37% before rebounding with a 12.65% increase following its announcement of participation in the U.S. Department of Energy's Voucher Program [1][2]. Group 1: Company Developments - Oklo's participation in the DOE Voucher Program will support the evaluation and testing of advanced structural materials for its Aurora powerhouse, enhancing scalability, supply chains, and manufacturing [2]. - The collaboration with Oak Ridge National Laboratory is expected to refine fast reactor technologies, enabling Oklo to provide scalable and cost-effective clean energy solutions [3]. - The company has a pipeline of 14 gigawatts of announced customers and partners, positioning it to meet growing energy demands across various applications [3]. Group 2: Market Performance - Despite being 36.09% below its 2025 price target of $55.49, Oklo's stock remains 65.82% up year-to-date and has increased by 316.62% over the last 12 months [8]. - The stock's performance reflects a bullish sentiment, bolstered by the company's strategic partnerships and management setup, including the involvement of Sam Altman from OpenAI [6][7]. Group 3: Strategic Context - The anticipated support from the DOE has been in the works, as indicated by a previous press release regarding a board member's departure to a government position [5]. - The overall energy strategy under the Trump administration and significant investments in AI infrastructure suggest a favorable environment for Oklo's business expansion [7].

Core Viewpoint - Cathie Wood has been reducing her position in Oklo, a nuclear energy company backed by OpenAI CEO Sam Altman, despite its rising popularity in the AI and nuclear sectors [2][3]. Group 1: Company Overview - Oklo has seen a significant increase in its share price, rising by 500% since mid-August, with a notable 96% increase in January, largely influenced by Altman's involvement in a $500 billion AI infrastructure initiative [4]. - The company is currently pre-revenue and is not expected to scale operations for a couple of years, making it similar to a cash-burning startup [5]. Group 2: Investment Activity - Ark Invest sold over 335,000 shares of Oklo between October 21 and February 12, indicating a strategic decision to take profits amid the stock's rapid ascent [2][6]. - The historical performance of SPACs, through which Oklo went public, shows negative returns of 46% and 58% one and three years post-de-SPAC announcement, respectively, with renewable energy being one of the poorest-performing sectors [8]. Group 3: Market Sentiment - Oklo's recent rise appears to be driven by speculative momentum rather than solid operational results, likening it to a meme stock phenomenon [10]. - Investors seeking exposure to nuclear energy in relation to AI may find more established companies to be a safer investment compared to Oklo, which remains highly speculative [10].