Think It's Too Late to Buy This Leading Nuclear Start-Up? Here's Why There's Still Time.
Key Points
Oklo is building small compact nuclear reactors that could provide power to AI data centers.
The company is pre-revenue, but its recent acquisition of Atomic Alchemy could offer an early revenue source.
Regulatory approval remains a critical milestone that will determine Oklo's future.
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If you're just noticing nuclear stock Oklo (NYSE: OKLO), you might be looking at its year-to-date performance through burning eyes.
The stock is up over 450% on the year, putting the company's market cap at about $18 billion. Investors might balk at a stock that's already seen such extraordinary gains, let alone a company like Oklo, which has no revenue and no reactor in operation.
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For aggressive investors with a long time horizon, however, it might not be too late to capture upside from this nuclear darling.
Microreactors are built for this moment
Oklo is designing a small nuclear reactor (or "powerhouse") with fuel recycling capabilities.
A rendering of Oklo's Aurora powerhouse. Image source: Oklo.
Like other reactors, Oklo's powerhouses can provide reliable 24/7 power to clients. Unique to them, however, is the specialized fuel they will use, which could leave them operating for a decade or more without refueling.
Because of their size, Oklo's powerhouses will take less time (and money) to build. That, plus the reliability of their power, make them ideal companions to AI data centers, which is one reason Sam Altman has been an early supporter of Oklo.
All of this has contributed to Oklo's multibillion-dollar valuation. To grow from here, however, the company needs two major things to happen: It needs to make money, and it needs regulatory approval to commercialize its reactors.
On the revenue side, Oklo recently acquired Atomic Alchemy, a radioisotope start-up. If successfully integrated, the business could generate revenue from radioisotope production as early as 2026. Oklo values the radioisotope market at about $55.7 billion, which sounds promising but is still just a projection.
Getting regulatory approval is still the big question mark. The company has been moving through an accelerated timeline, with the goal of turning on its first reactor in 2027. If it can switch on the revenue stream in 2026, it could bolster its cash position, which was about $227 million at the end of June.
If Oklo can execute on these (and that's still an if), patient investors could see more growth over the next decade.
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Steven Porrello has positions in Oklo. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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