What’s Happening With Oklo Stock?

August 14th, 2025 by Trefis Team
OKLO: Oklo logo
OKLO
Oklo

Oklo (NYSE: OKLO), the nuclear startup, has surged 265% in 2025, sharply outperforming the S&P 500’s 10% increase. The rise reflects a confluence of factors: federal project approvals, the growing energy demands of AI and data infrastructure, strategic partnerships, and a regulatory backdrop that is increasingly supportive of nuclear power.

The hype is real, but so is the risk. Oklo is still a pre-revenue, early-stage bet. One bad headline or market shock can trigger a 20–50% drop, as past small-cap history shows. That said, the Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming the S&P 500 over the last 4-year period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index, less of a roller-coaster ride as evident in HQ Portfolio performance metrics. Separately see, Bigbear.ai: Sell BBAI Stock At $5?

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Photo by Mingo123 on Pixabay

What Oklo Does

Oklo’s Aurora powerhouse is a compact, fast-neutron reactor that produces 15–75 megawatts, enough to power data centers, industrial facilities, military bases, or remote towns. It features built-in safety systems, supports nuclear fuel recycling, and operates on High-Assay Low-Enriched Uranium fuel for enhanced efficiency and reduced waste.

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Rather than selling reactors, Oklo plans to sell electricity through long-term power purchase agreements (PPAs), managing operations from build to output. Current customers include the U.S. Air Force and Wyoming Hyperscale data centers.

Growth Drivers

Oklo’s recent momentum is tied to several developments:

  • A long-term PPA to deploy its Aurora microreactor at Eielson Air Force Base — a notable federal endorsement.

  • Rising investor interest in small modular reactors as AI drives up energy demand and policy shifts favor nuclear.

  • A partnership with Vertiv to test nuclear-powered cooling systems at Idaho National Laboratory, aimed at large-scale data center applications.

Valuation Snapshot

Oklo’s market cap is about $11.4 billion, but as a loss-making, pre-revenue company, traditional metrics like P/E don’t apply. Its current ratio has improved to –13× from –32× in late 2024. In Q2, the company posted no revenue, an operating loss of $17.9 million, and a narrowed net loss of $9.8 million, while maintaining over $680 million in liquidity—enough runway for its planned Aurora reactor rollout in late 2027 or early 2028. The valuation is based more on optimism about future potential than current fundamentals, making Oklo a high-risk, high-reward investment.

It should also be noted that in times of turmoil stocks can drop sharply – 20%, 30%, even 50% – as we’ve seen during past market shocks. No stock is immune. Our dashboard How Low Can Stocks Go During A Market Crash captures how key stocks fared during and after the last six market crashes.

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