Core Insights - Oklo Inc, a nuclear energy startup, is valued at over $17 billion despite having no revenue, operating license, or signed customers [1][4] - The company's stock has surged more than 450% year-to-date, making it one of the most puzzling market winners of 2025 [2][7] - Oklo's technology focuses on small modular reactors (SMRs) cooled by liquid sodium, which the company claims can power data centers more efficiently [3] Company Overview - Oklo has not yet received a federal license to operate any reactors and lacks binding power-supply contracts, although it has non-binding agreements with tech clients [4] - The company is backed by notable figures, including OpenAI's Sam Altman, and has begun construction on its first pilot site in Idaho, aiming for commercial power by 2027 [3] Political Connections - Oklo has ties to the Trump administration through Chris Wright, a former board member who is now Trump's Energy Secretary, raising concerns about potential conflicts of interest [5] - The Department of Energy has selected Oklo for several fast-track programs, which has attracted scrutiny from Democratic lawmakers [5] Market Sentiment - Skeptics view Oklo's valuation as indicative of a tech-style hype cycle, with about 13% of its float sold short due to concerns over the viability of sodium-cooled reactors [7] - Despite skepticism, some investors believe that the time for such technologies has arrived, reflecting increased confidence in the sector [7] Stock Performance - As of the latest check, Oklo's stock price was down over 13.8%, trading around $120 per share, but it remains up nearly 450% year-to-date [7]
This Trump-Linked Nuclear Startup Is Worth $17B — And Still Waiting For A License