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How Oklo Plans to Power the AI & Cloud Boom With Nuclear Energy

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Key Takeaways

  • OKLO plans to deliver nuclear power directly to data centers via a power-as-a-service model.
  • The Aurora reactor project is central to OKLO's strategy but remains under development.
  • OKLO's customer pipeline shows over 14 GW of interest, though contracts are not yet binding.

Among the customers that Oklo Inc. (OKLO - Free Report) is actively engaging with are companies that operate large data centers. Since data centers are facilities that power everything from cloud storage to artificial intelligence, they require massive amounts of energy to run the servers around the clock. The company’s Aurora powerhouse, currently in development, aims to provide clean and reliable energy if successfully commercialized.

OKLO’s power-as-a-service business model, where instead of simply selling reactors, it will deliver electricity directly to data centers under long-term contracts, is central to its strategy, but not yet implemented. As a result, if successfully deployed, technology companies, OKLO’s high-power customers, would be guaranteed electricity without the hassle of managing a power plant once the plants are operational. Additionally, OKLO is willing to accept investments from customers in its projects. This could involve upfront payments, similar to a deal made by Equinix, or partnering in the energy systems. This is how OKLO intends to fund the construction of its power plant, and in return, expects to provide stable power to customers for a set period.

To find out the best locations for future reactors, OKLO is also working with its customers, which will further strengthen the deals. Thus, the company is working to position itself to meet the mounting demand for clean energy sources from the data centers, though significant execution risks remain. The strength of this demand is demonstrated by Oklo's robust customer pipeline, which now includes more than 14 gigawatts of potential power capacity, though this reflects interest rather than binding contracts.

How Are TLN & CEG Fueling AI Data Centers?

It is worth highlighting Talen Energy Corporation’s (TLN - Free Report) major partnership with Amazon Web Services (AWS). TLN is generating revenues while supplying electricity directly to AWS data centers located at its Susquehanna nuclear plant site.

To capitalize on the mounting demand for power from AI and cloud computing, Constellation Energy Corporation (CEG - Free Report) is expanding its nuclear offerings. Thus, the nuclear fleet of CEG is well-positioned as a stable, long-term solution for hyperscale data centers.

OKLO’s Price Performance, Valuation & Estimates

Shares of OKLO have surged 551.2% over the past year, outpacing the 54.1% gain of the composite stocks belonging to the industry.

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From a valuation standpoint, OKLO trades at a price-to-book value (P/BV) of 27.76X. This is above the broader industry average of 5.57X.

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The Zacks Consensus Estimate for OKLO’s 2025 bottom line has remained unchanged over the past seven days.

Zacks Investment Research Image Source: Zacks Investment Research

OKLO stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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Constellation Energy Corporation (CEG) - free report >>

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Oklo Inc. (OKLO) - free report >>

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