As filed with the United States Securities and Exchange Commission on December 9, 2025 under the Securities Act of 1933, as amended. Registration No. 333-290350 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––––––– AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––––––– K2 Capital Acquisition Corporation (Exact name of registrant as specified in its charter) ––––––––––––––––––––––––– ...

Core Insights - Oklo Inc. is advancing towards commercial operations with a significant capital requirement, launching a $1.5 billion at-the-market stock program to raise funds for its projects [1][8] - The company has secured a plan to sell shares gradually on the NYSE through major financial institutions, allowing for flexible cash raising aligned with project needs [2] - The new funding will support operating expenses, reactor development, and construction of fuel-recycling facilities, with recent achievements reducing deployment risks [3] Financial Strategy - The $1.5 billion stock program enhances Oklo's financial flexibility, complementing the existing $1.184 billion in cash and investments [2][4] - Investors should be aware of potential dilution risks due to the issuance of new shares, which may affect the value of existing shares [4] - Oklo reported an operating loss of $36.3 million in Q3, primarily due to payroll and business expenses, indicating active fund deployment [4] Industry Context - NuScale Power relies heavily on equity issuance for funding, reflecting the high costs and lengthy timelines associated with small-modular-reactor manufacturing [5] - NANO Nuclear Energy also depends on new share issuance, raising over $206 million through common stock sales in nine months, highlighting the need for continuous access to equity markets [6] Market Performance - Oklo's shares have surged nearly 400% this year, outperforming the industry [7] - The average brokerage recommendation for Oklo is 2.05, indicating a favorable outlook based on recommendations from 19 brokerage firms [10]

Group 1 - The article discusses the author's extensive experience as a Merchant Seaman and a growing interest in investing over the past 15 years, particularly in Tech stocks due to an engineering background [1] - The author attributes much of their investment knowledge to The Motley Fool, indicating a reliance on established investment resources for learning [1] Group 2 - There is a disclosure stating that the author has no current stock or derivative positions in any mentioned companies and has no plans to initiate any such positions in the near future [2] - The article emphasizes that past performance is not indicative of future results, highlighting the uncertainty inherent in investment decisions [2]

Core Insights - The significant impact of artificial intelligence (AI) on daily life is evident, but the ability of data centers to secure sufficient power supply is crucial for supporting AI computing demands, which is where Oklo's advanced nuclear power solutions come into play [1] Company Performance - Oklo's stock has surged approximately 400% since the beginning of the year, significantly outperforming the S&P 500, which has risen about 17% during the same period [2] - The company's past performance has been driven by key agreements, including a landmark deal with Switch in December 2024 and a partnership with Korea Hydro & Nuclear Power in May, indicating strong demand for its small modular reactors (SMRs) [4] - A major catalyst for the stock's rise has been President Donald Trump's executive orders, which have revitalized the nuclear energy industry in the U.S. [5] Recent Developments - Recently, Oklo announced progress in developing its Aurora powerhouse at Idaho National Laboratory, signing an agreement with Siemens Energy to initiate engineering and design activities for the power conversion system [6] - The stock has attracted significant interest from growth investors due to the substantial market opportunity presented by Oklo's innovative approach to meeting the power needs of data center operators [9] Future Potential - Oklo is developing advanced nuclear reactors with various applications, including for data centers, and there is potential for the stock to continue outperforming the market [8] - If Oklo successfully advances its Aurora powerhouse from prototype to commercial operations, it is likely to attract even more investor interest [9]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] Investment Opportunity - A specific company is highlighted as a potential investment opportunity, possessing critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI data centers [3][7] - This company is not a chipmaker or cloud platform but is positioned to benefit significantly from the anticipated surge in electricity demand driven by AI technologies [3][6] Energy Demand and Infrastructure - AI technologies, particularly large language models like ChatGPT, are extremely energy-intensive, with data centers consuming as much energy as small cities [2] - The company in focus is involved in the U.S. LNG exportation sector, which is expected to grow under the current administration's energy policies [7] Financial Position - The company is noted for being completely debt-free and holding a substantial cash reserve, amounting to nearly one-third of its market capitalization [8] - It is trading at a low valuation of less than 7 times earnings, making it an attractive option for investors seeking exposure to AI and energy sectors [10] Market Trends - The article discusses the broader trends of onshoring and tariffs, which are expected to drive demand for domestic energy infrastructure and manufacturing [5][14] - The influx of talent into the AI sector is anticipated to lead to rapid advancements and innovative ideas, further solidifying AI's role as a key driver of future economic growth [12] Conclusion - The company is positioned at the intersection of AI and energy, making it a compelling investment opportunity as the demand for AI continues to rise [6][11]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgent need for energy to support its growth [1][2][3] - A specific company is highlighted as a key player in the AI energy sector, owning critical energy infrastructure assets that are essential for meeting the increasing energy demands of AI technologies [3][7][8] Investment Landscape - Wall Street is investing hundreds of billions into AI, but there is a pressing concern regarding the energy supply needed to sustain this growth [2] - AI data centers, such as those powering large language models, consume energy equivalent to that of small cities, indicating a significant strain on global power grids [2] - The company in focus is positioned to capitalize on the surge in demand for electricity driven by AI, making it a potentially lucrative investment opportunity [3][6] Company Profile - The company is described as a "toll booth" operator in the AI energy boom, collecting fees from energy exports and benefiting from the onshoring trend due to tariffs [5][6] - It possesses critical nuclear energy infrastructure assets, making it integral to America's future power strategy [7] - The company is noted for its ability to execute large-scale engineering, procurement, and construction projects across various energy sectors, including oil, gas, and renewables [7] Financial Position - The company is completely debt-free and has a substantial cash reserve, amounting to nearly one-third of its market capitalization, which positions it favorably compared to heavily indebted competitors [8] - It also holds a significant equity stake in another AI-related company, providing indirect exposure to multiple growth engines in the AI sector [9][10] Market Sentiment - There is a growing interest from hedge funds in this company, which is considered undervalued and off the radar, trading at less than seven times earnings [10][11] - The company is recognized for delivering real cash flows and owning critical infrastructure, distinguishing it from speculative stocks in the AI space [11][12] Future Outlook - The ongoing influx of talent into the AI sector is expected to drive continuous innovation and advancements, reinforcing the importance of investing in AI-related companies [12][13] - The combination of the AI infrastructure supercycle, onshoring trends, and a focus on nuclear energy positions this company as a key player in the evolving energy landscape [14]

Core Insights - Artificial intelligence (AI) is identified as the greatest investment opportunity of the current era, with a strong emphasis on the urgency to invest now [1][13] - The energy demands of AI technologies are significant, with data centers consuming as much energy as small cities, leading to concerns about power grid strain and rising electricity prices [2][3] Investment Opportunity - A specific company is highlighted as a critical player in the AI energy sector, owning essential energy infrastructure assets that are poised to benefit from the increasing energy demands of AI [3][7] - This company is not a chipmaker or cloud platform but is positioned as a "toll booth" operator in the AI energy boom, collecting fees from energy exports [5][6] Financial Position - The company is noted for being debt-free and holding a substantial cash reserve, which is nearly one-third of its market capitalization, providing a strong financial foundation [8][10] - It is trading at less than 7 times earnings, indicating a potentially undervalued investment opportunity compared to its peers in the energy and AI sectors [10][12] Market Trends - The company is strategically aligned with several market trends, including the onshoring boom driven by tariffs, a surge in U.S. LNG exports, and advancements in nuclear energy [14][6] - The influx of talent into the AI sector is expected to drive continuous innovation and growth, making investments in AI infrastructure increasingly attractive [12][11] Future Outlook - The company is positioned to capitalize on the anticipated energy spike driven by AI, making it a compelling investment as the demand for electricity continues to rise [3][7] - The overall sentiment is that investing in AI and its supporting infrastructure is essential for future growth and profitability in the evolving technological landscape [11][13]

Core Insights - The energy sector is experiencing significant activity driven by the demand for data centers and AI infrastructure, particularly in nuclear, solar, and power generation stocks [1] - Nvidia CEO Jensen Huang highlighted energy as a critical bottleneck for the AI industry, referring to next-generation data centers as "gigawatt factories" that require substantial power [2][3] Nuclear Energy Developments - Huang anticipates the deployment of small nuclear reactors to power data centers directly within six to seven years, presenting an off-grid model as essential for achieving carbon-neutral goals [3] - The Department of Energy awarded $400 million each to the Tennessee Valley Authority and Holtec Government Services to accelerate small modular reactor deployment, contributing to the sector's momentum [4] Market Reactions - Nuclear energy ETFs have benefited from the convergence of tech demand and government support, with the Range Nuclear Renaissance ETF (NUKZ) up 62.8% year to date as of December 5 [5] - The ETF tracks a diverse group of nuclear energy stocks, including utilities and advanced reactors, indicating strong investor interest in the sector [5] Strategic Importance - Nuclear energy is becoming a fundamental infrastructure component for the AI economy, as dedicated nuclear power sources are deemed necessary for the future operation of "gigawatt factories" [6]

Core Viewpoint - Nuclear energy stocks are experiencing significant gains, but these increases may be exaggerated due to speculative interest rather than solid business fundamentals [1][13]. Industry Overview - The nuclear energy sector is gaining attention as it becomes increasingly important for powering next-generation data centers, especially in the context of rising electricity demands driven by AI applications [2][5]. - Data centers accounted for approximately 4% of U.S. electricity consumption in 2023, with projections suggesting this could triple by 2028 due to AI infrastructure investments [5]. - Nuclear energy is viewed as a stable and cost-effective alternative to traditional energy sources, providing continuous power which is essential for large-scale operations [6]. Market Dynamics - Nuclear energy ETFs have outperformed the S&P 500, indicating strong investor interest in this sector [2]. - Major tech companies have entered into long-term agreements with nuclear energy firms, signaling a trend towards integrating nuclear power into their energy strategies [10][12]. - Notable partnerships include Microsoft with Constellation Energy, Meta with Constellation Energy, Alphabet with NextEra Energy, and Amazon Web Services with Talen Energy and Dominion Energy [10]. Company Analysis - Oklo, a nuclear energy company, has seen a dramatic 955% increase in share price, raising concerns about its valuation given the lack of revenue generation and actual products [15][16]. - The current market cap of Oklo stands at $16 billion, which is difficult to justify without a tangible product or paying customers [18]. - The company is still in the developmental phase, requiring significant efforts to build and commercialize its services before it can generate revenue [18]. Future Outlook - The nuclear energy sector is expected to play a crucial role in supporting the AI infrastructure boom over the next five years, but there are concerns about potential market corrections, particularly for companies like Oklo [19].

Core Insights - Oklo Inc. (NYSE:OKLO) experienced a significant share price increase of 14.54% from November 28 to December 5, 2025, making it one of the top-performing energy stocks during that week [1] Company Developments - Oklo Inc. is backed by OpenAI's Sam Altman and focuses on developing advanced fission power plants aimed at providing clean, reliable, and affordable energy in the U.S. The company is recognized for its Aurora small modular reactor (SMR), positioning it at the forefront of nuclear technology [2] - On December 2, 2025, Oklo's stock price surged following the U.S. Department of Energy's announcement of a grant of up to $800 million to support the development of SMRs, with the Tennessee Valley Authority (TVA) and Holtec receiving up to $400 million each for their respective projects [3] - The development of SMRs represents a significant advancement for domestic nuclear technology under the Trump administration, especially in comparison to progress in countries like China and Russia [4] Analyst Ratings - On December 3, 2025, UBS analyst Jon Windham raised Oklo's price target from $65 to $95 while maintaining a 'Neutral' rating. Subsequently, on December 5, Needham initiated coverage with a 'Buy' rating and a price target of $135, citing the company's favorable regulatory position and diversified fuel strategy [5]