Oklo (OKLO 3.43%) stock skyrocketed 238% in 2025, according to data provided by S&P Global Market Intelligence. At one point, the nuclear energy stock was up over 700% last year.
A perfect storm of pro-nuclear policies and groundbreaking deals turned Oklo into a market darling, sending its shares to an all-time high of $193.84 in 2025. Oklo, however, is currently trading 60% below its peak value, sparking debate about what lies ahead for the stock in 2026.
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What happened with Oklo stock in 2025?
Oklo's fast-fission nuclear energy plants, called Aurora powerhouses, can address the most prominent challenge data center builders and operators are currently facing -- that of an abundant, steady on-site power supply. Oklo aims to generate power from its small, modular reactors and sell it directly to end consumers under long-term contracts.
Oklo is still a pre-revenue company and yet to complete its first reactor, but its rapid progress in 2025 sent shares into the stratosphere. The massive rally was mainly fueled by a series of high-impact collaborations, particularly its strategic partnerships with the U.S. Department of Energy (DOE).
The DOE selected Oklo for multiple projects under its reactor pilot program. Oklo broke ground on its first Aurora powerhouse at the Idaho National Laboratory (INL) in September 2025.
Oklo was also among the handful of companies selected for the DOE's advanced nuclear fuel line pilot projects, under which the nuclear energy company will build and operate three fuel-fabrication facilities to fuel its reactors. Fast fission plants can run on repurposed fuel, enabling Oklo to recycle used nuclear fuel.
NYSE: OKLO
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In January 2026, Oklo hit another milestone when the DOE selected it to construct and operate a medical radioisotope pilot facility under the DOE's reactor pilot program. Radioisotopes are essential for diagnosing cancer and treating other diseases, but most of them are currently produced outside the U.S.
Oklo also separately announced an investment of $1.68 billion to build a fuel recycling facility in Tennessee and signed a $2 billion partnership with France-based newcleo to build fuel fabrication facilities in the U.S.
Is Oklo stock a buy now for 2026?
Oklo has kicked off 2026 on a high note, signing an agreement with tech giant Meta to develop a 1.2 gigawatt nuclear energy campus in Ohio to support Meta's data centers. Meta will prepay to fund construction, with the first phase expected to come online in 2030.
The Meta deal further validates Oklo's technology and gives it significant leverage to secure additional commercial deals while it continues to execute on its DOE commitments.
Oklo shares, however, have retreated 60% from all-time highs amid profit-taking after an unprecedented rally. The pullback could be a solid opportunity to invest in a company with strong federal backing under President Donald Trump's pro-nuclear energy roadmap. If Oklo can achieve criticality (the crucial stage where a reactor becomes stable and self-sustaining) at pilot nuclear reactors by July 4, 2026 as targeted by the DOE, the stock price could resume its northward journey.
