Overview
- Oklo's shares have fallen more than 75% from their October 2025 peak, and the company has no operating reactors or commercial revenue as of late July 2026.
- The company is building its first Aurora fast‑fission small modular reactor at Idaho National Laboratory, which it currently expects to start up in late 2027 to early 2028.
- Oklo has secured large corporate offtake commitments — including a strategic deal with Switch for up to 12 GW and an agreement with Meta for about 1.2 GW in Ohio — that underpin future demand but require years of construction to deliver.
- Management plans to begin construction on the larger Ohio Aurora project later in 2026, aiming for the first phase online by about 2030 and full buildout by 2034, which will raise spending before any power sales.
- Investors and analysts point to NextEra as a lower‑risk alternative because it already operates multiple reactors and has a 25‑year power purchase tied to the planned 2029 restart of Duane Arnold, offering nearer‑term earnings from existing plants.