Oklo (OKLO 5.16%) has been on a hot streak. After a disastrous debut, in which the nuclear power stock plunged over 50% on its first trading day, Oklo's share price has rebounded sharply. Indeed, by mid-October 2025, shares were up nearly 700% on the year.
The company, which is still pre-revenue, has been riding on policy tailwinds and investor enthusiasm. But whether it can be your ticket to nuclear riches depends on turning that promise into real, operating reactors.
Image source: Oklo.
Why investors are watching Oklo
Oklo is a nuclear energy start-up that aims to become one of the primary energy sources for artificial intelligence (AI). The company's Aurora microreactor is designed to deliver up to 75 megawatts of clean, reliable power -- exactly what today's data centers need.
Even though Oklo lacks a commercial license (more on that below), it's working with the U.S. Air Force on potential deployment sites. Nuclear reactors have, of course, been around for over half a century. What makes Oklo's reactors different is their size.
The Aurora powerhouse is small, compact, and modular. Whereas a traditional nuclear power plant could take a decade or more to build, Oklo wants to assemble its reactors in a few years. That quickness, combined with the compactness of its design, makes them ideal for use with AI, whose accelerating need for power could easily overwhelm traditional grid systems.
NYSE: OKLO
Key Data Points
The company does not have regulatory approval to operate its Aurora powerhouses commercially. It's currently in the process of obtaining that license, but even under an optimistic timeline, Oklo doesn't expect to deploy its first reactor until late 2027 or early 2028.
Oklo already has a roughly $14 billion market valuation, even without revenue and a commercial license. Until it actually deploys reactors, the investment thesis here is based on promise rather than material reality. For long-term investors willing to ride out the volatility, Oklo could bring riches long term, but it's far from a guaranteed jackpot.
