Oklo Inc. (OKLO) Stock Price & How to Invest

Oklo (OKLO) is a US advanced-nuclear company developing small modular fast reactors, branded the Aurora powerhouse, intended to deliver clean baseload electricity from compact, factory-buildable units. Its model is to own and operate the plants and sell power under long-term agreements rather than just sell reactors, positioning it as a power provider for data centers, industrial users, and grid customers. Oklo also pursues recycling of used nuclear fuel as part of its long-term plan. The company is pre-revenue: it has no operating commercial reactors generating power yet, and its value rests on advancing reactor design, securing US Nuclear Regulatory Commission licensing, building a supply chain and fuel access, and converting a pipeline of customer interest into deployed, revenue-generating plants. Oklo became publicly traded through a SPAC merger and trades on the New York Stock Exchange. It is closely associated with the AI-driven surge in electricity demand and the broader nuclear revival, which makes it a high-profile but speculative early-stage holding.

The share price has round-tripped much of the 2025 enthusiasm. As of the October 16, 2026 close near $28.49, OKLO was down about 63% year to date and about 82% from a year earlier, against a 52-week range of roughly $27.52 to $171.65, leaving a market value near $5.3 billion. The company funds itself by issuing stock: shares outstanding grew from about 122 million at the May 2024 SPAC close to roughly 192 million by early autumn 2026, and in September it opened another at-the-market program to sell up to $1 billion of shares. That equity has built a large cushion, about $2.47 billion of cash against minimal debt at mid-2026, while trailing net losses run near $153 million. Oklo booked its first revenue, about $1.21 million, in the second quarter of 2026, and in October it advanced an isotope production facility (the Groves project) under a Department of Energy nuclear initiative. Third-quarter results are expected on November 10, 2026.

Oklo is pre-revenue with no operating commercial reactors, so it carries substantial execution risk: NRC licensing is rigorous and can take years, first-of-a-kind nuclear construction often runs over budget and behind schedule, and fuel supply (especially HALEU) is a real constraint. The company keeps raising capital by selling stock, which dilutes shareholders: the share count is up about 58% since the 2024 listing, and each $1 billion raised at a lower price takes more shares. Many of its customer agreements are non-binding letters of intent rather than firm contracts. The stock is highly sensitive to sentiment around the nuclear and AI-power themes and can be very volatile, as the roughly 82% fall over the twelve months to October 2026 shows. Competition from other advanced-reactor developers and from alternative clean-power sources is intensifying. As a SPAC-originated, early-stage name, it should be treated as speculative.

20 analysts publish price targets on OKLO, averaging $75.38 against a $27.97 price as of October 2026, or +169.5%. The published targets run from $14.00 to $130.00, a wide spread, and the ratings split 13 buy, 9 hold, 1 sell. Over the last six months there have been 0 raises and 6 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full OKLO forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Oklo Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. AI-era electricity demand. Data centers and AI compute are driving a sharp projected increase in electricity demand, with a premium on reliable, around-the-clock clean power. The most optimistic published target, $130.00, assumes this works close to its best case.

The case against. Oklo is pre-revenue with no operating commercial reactors, so it carries substantial execution risk: NRC licensing is rigorous and can take years, first-of-a-kind nuclear construction often runs over budget and behind schedule, and fuel supply (especially HALEU) is a real constraint. The most pessimistic target, $14.00, is roughly what OKLO is worth if this bites instead.

Read the full bull and bear case on OKLO, including what would have to change to break either one. Walnut is not an investment adviser.

No. Oklo Inc. (OKLO) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Oklo Inc.'s investor relations page or your broker.

• Stage: Pre-revenue advanced-nuclear developer (no operating commercial reactors)
• Revenue (TTM): ~$1.2M, first booked in Q2 2026
• Net loss (TTM): ~$153M; EPS ~-$0.94
• Q2 2026 EPS: ~-$0.28 vs ~-$0.16 expected
• Cash / debt: ~$2.47B cash, ~$4M debt (June 30, 2026)
• Market cap: ~$5.3B at ~$28.49 per share
• Dividend: None
• Key sensitivities: NRC licensing, fuel access, financing and dilution, and AI-power demand sentiment

Oklo cannot be valued on current earnings because it is pre-revenue; the market prices it on the size of the clean-power opportunity, its customer pipeline, and the probability of licensing, financing, and deploying reactors. At about $5.3 billion of market value against roughly $2.47 billion of cash, the market now assigns far less to that option than it did a year ago, when the stock traded several times higher. Analysts expect losses of about $0.95 a share in 2026 and $1.06 in 2027, and their average target near $75 is far above the October 16 price.

If you want OKLO exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses OKLO naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to OKLO: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get OKLO exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (URA, NLR, NUKZ), which spreads the position across many companies. Or build it into a focused thematic portfolio, so OKLO sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where OKLO fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Oklo (OKLO) is a pre-revenue advanced-nuclear developer whose value rests on building and licensing small modular reactors and selling the power. In a portfolio it behaves as a high-volatility, story-driven bet on the nuclear revival and AI-era electricity demand, not as an earning utility. The upside is a large clean-power opportunity; the downside is the licensing, construction, financing, and execution risk of a company with no commercial plants yet. In 2026 the downside has been the visible part: the stock fell to a 52-week low in October while the company kept selling new shares to fund itself.

Whether OKLO is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is OKLO a buy or a sell?, and where the stock could go from here in the OKLO stock forecast.

For income investors, whether OKLO pays a dividend and how the payout looks is covered in does OKLO pay a dividend? And to weigh OKLO against a peer, read the full side-by-side comparisons: OKLO vs CEG and OKLO vs VST.