Oklo’s Nuclear Deal Could Power All of New York State For 20 YEARS

Despite recently calling Elon Musk a “bully” over the ChatGPT drama (pot, meet kettle), Altman’s nuclear startup, Oklo, made headlines elsewhere by signing a massive 20-year agreement with data center giant Switch Inc. And by massive, I mean enough juice to power all 7.6 million homes in New York State… assuming, of course, those reactors ever leave the blueprint stage (big “if,” by the way).

But let’s back up. Altman, the guy who supposedly doesn’t care about money, is sitting at the helm of a company worth $2.2 billion. Oklo’s deal with Switch aims to build up to 12 gigawatts of nuclear capacity, making it one of the largest corporate power agreements ever. And no, that’s not a typo… this makes Microsoft’s 10.5-GW wind and solar deal with Brookfield look like a kid showing off their lemonade stand earnings.

(Source: Oklo)

The AI revolution has a dirty little secret: it’s an energy black hole. Training an AI model like ChatGPT isn’t just expensive… it’s the kind of power drain that makes Bitcoin mining look eco-friendly. By 2030, experts predict computing power demands will grow tenfold, which might as well be a giant neon sign flashing “Energy Crisis Ahead.” Big Tech has already done the math, and surprise, surprise: wind and solar just don’t have the juice to keep up. Nuclear, despite the regulatory migraines and slight issue of radioactive waste, is the only game in town when it comes to reliable, low-carbon baseload power.

That’s where Oklo steps in with its small modular reactors (SMRs)... basically, fun-sized nuclear power plants (great for stocking stuffers). But let’s not pretend they’re alone in this race. Companies like X-energy and Kairos Power are snuggling up to tech monopolies like Amazon and Google, while Meta is out here hunting for 4 gigawatts of nuclear capacity. The catch? Not a single one of these reactors is operational yet (so, uh, hold off on transferring your life savings to your brokerage account). Oklo’s first 15-MW Aurora reactor? It’s penciled in for 2027.

Oh, and about that Switch deal: it’s non-binding, which is corporate code for, “We’ll see if we’re still interested in a decade.” Critics like Edwin Lyman from the Union of Concerned Scientists aren’t exactly buying the hype, pointing out that these agreements lack the multi-billion-dollar investments needed to actually, you know, happen. Still, the potential upside is enormous. With Oklo already increasing its order book from 2.1 GW to 14 GW this year, Wedbush Securities slapped an “outperform” rating on the stock, giving it a price target of $26. Oklo’s shares have already surged 220% since September, fueled by hype around nuclear’s comeback and AI’s energy demands.

For all the skepticism, one thing is clear: Big Tech’s bets on nuclear energy could legitimize an industry long plagued by delays, cost overruns, and public fear. As Oklo co-founder Jacob DeWitte puts it, “We are entering a new world due to the size of the energy demand.” But until those reactors come online, Oklo is selling a dream… one that investors are buying though.

Whether Altman’s nuclear vision will power the AI revolution or implode under its own hype remains to be seen. One thing’s for sure: Altman may claim he doesn’t care about money, but Oklo’s potential billions suggest otherwise.

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Stock.News has positions in Microsoft, Amazon, Meta, and Google.