Sam Altman's bet on nuclear power just paid off spectacularly. Shares of Oklo Inc., the advanced fission company backed by the OpenAI chief executive, surged more than 20% on Friday after Meta announced a landmark agreement that could accelerate the deployment of small modular reactors by years. The deal positions Oklo at the center of what may be the most significant shift in American energy infrastructure since the shale revolution.

The announcement represents more than just a stock surge—it's a validation of a technology that critics had dismissed as perpetually "20 years away" and a signal that the artificial intelligence revolution's insatiable power demands may finally be forcing the nuclear renaissance into reality.

The Meta Deal

Meta announced Friday that it has struck an agreement with Oklo to advance development of a 1.2 gigawatt nuclear power campus in Pike County, Ohio. The project will support Meta's data centers in the region, including the massive Prometheus AI supercluster being built in New Albany.

Pre-construction and site characterization work is slated to begin in 2026, with the first phase targeted to come online as early as 2030. When fully operational, the campus would provide enough electricity to power approximately 1.2 million homes—though in this case, the power will feed Meta's AI ambitions rather than residential consumers.

"This agreement demonstrates the growing recognition that advanced nuclear is essential to meeting America's rapidly expanding energy needs. We're no longer talking about nuclear as a future technology—we're building it now."

— Oklo spokesperson on the Meta partnership

The deal is part of a broader Meta push into nuclear energy that also includes agreements with Vistra for power from existing plants and TerraPower for next-generation reactor development. Combined, Meta's nuclear initiatives could deliver up to 6.6 gigawatts of power by 2035—exceeding the total electricity demand of New Hampshire and making Meta one of the most significant corporate purchasers of nuclear energy in American history.

Why Oklo Matters

Oklo occupies a unique position in the nuclear energy landscape. Founded in 2013, the company has developed a compact fission reactor design that represents a dramatic departure from traditional nuclear plant construction. Where conventional reactors require massive facilities, years of construction, and billions in upfront capital, Oklo's approach is modular, faster to deploy, and designed for industrial-scale manufacturing.

The company's Aurora Powerhouse design uses metallic fuel and operates at higher temperatures than conventional reactors, enabling greater efficiency. The reactors can be built in factories and shipped to deployment sites, potentially reducing construction timelines from a decade to just a few years.

Sam Altman serves as Oklo's chairman, having invested early in the company as part of his broader thesis that artificial intelligence will require dramatic increases in energy availability. His simultaneous leadership of OpenAI—which has sparked the current AI arms race—and investment in nuclear power reflects a coherent view: AI's potential is ultimately constrained by energy supply, and nuclear offers the only scalable path to the quantities of clean power that advanced AI systems will demand.

The Stock Surge

Oklo shares jumped as much as 20% in Friday trading, reaching $115.75 and establishing a new record high. The surge extends a remarkable recovery from the company's rocky final months of 2025, when shares plummeted 46% from November through December amid broader market volatility and concerns about the nuclear sector's timeline.

The Meta announcement provides exactly the kind of validation that institutional investors needed to see. A customer commitment of this magnitude—from one of the world's largest technology companies—transforms Oklo from a promising concept to a company with tangible commercial traction.

Fellow nuclear stocks joined the rally. Vistra gained as much as 16% on news of its own Meta agreement for power from existing plants. NuScale Power, which holds the distinction of having the only fully NRC-certified small modular reactor design, climbed 12% in sympathy. Uranium producers Centrus Energy and Cameco also rose as investors priced in increased demand for nuclear fuel.

The Hyperscaler Power Problem

Meta's aggressive move into nuclear energy reflects a growing crisis in the technology industry: artificial intelligence requires staggering amounts of electricity, and the grid simply cannot deliver it. Data centers already consume approximately 2.5% of U.S. electricity, and that figure is projected to more than double by 2030 as AI workloads proliferate.

The major cloud providers and AI labs—Meta, Microsoft, Google, Amazon—are scrambling to secure power supplies that can support their expansion plans. Some have signed agreements to purchase power from existing plants. Others are exploring on-site generation using natural gas or renewables. Increasingly, nuclear is emerging as the only realistic solution for the scale of reliable, carbon-free power that AI demands.

Microsoft has signed deals to restart the Three Mile Island nuclear plant. Amazon has agreed to purchase nuclear power from Constellation Energy. Google is exploring advanced nuclear technologies. The pattern is unmistakable: Big Tech is going nuclear.

Regulatory Pathway

Oklo's timeline depends critically on regulatory approval from the Nuclear Regulatory Commission. The NRC rejected Oklo's initial license application in 2022, citing insufficient information about the reactor design. The company has since strengthened its application and is working through the approval process.

The regulatory environment, however, is shifting in nuclear's favor. Bipartisan support for nuclear energy has grown as policymakers recognize the technology's importance for grid reliability, energy independence, and climate goals. The ADVANCE Act, signed into law last year, streamlined certain aspects of reactor licensing and provided additional resources for regulatory review.

Oklo's agreement with Meta doesn't require NRC approval—it's a development and power purchase commitment rather than a license to operate. But the deal provides financial runway and commercial validation that strengthens Oklo's position as it works toward licensing milestones.

Investment Considerations

Friday's surge raises the perennial question for nuclear investors: is this time different? The sector has disappointed before, with promises of renaissance giving way to cost overruns, regulatory delays, and canceled projects.

Several factors suggest the current moment may indeed be different:

  • Demand clarity: AI's power requirements are quantifiable and growing rapidly. Unlike previous nuclear revival attempts that depended on policy mandates or hypothetical demand, the current driver is concrete commercial need from the world's largest technology companies.
  • Corporate backing: Meta, Microsoft, Google, and Amazon bring not just capital but engineering expertise, political influence, and execution capability that traditional utilities often lack.
  • Technology maturity: Small modular reactor designs have advanced significantly, with NuScale achieving NRC certification and others moving through the approval pipeline.
  • Policy tailwinds: Bipartisan support for nuclear has reached levels not seen in decades, reducing regulatory uncertainty.

Risks remain substantial. Oklo has not yet received NRC approval for commercial operation. Construction timelines for nuclear projects historically exceed estimates. The company is pre-revenue and will burn cash for years before plants generate power. Competition from other advanced nuclear developers could erode Oklo's positioning.

But for investors willing to accept these risks, Friday's news represents a meaningful de-risking event. Sam Altman's bet on nuclear power isn't just theoretical anymore—it's being built in Ohio.