Altman-Backed Oklo Inks Nuclear Power Deal to Feed Data Centers

Bloomberg11-13 22:31

(Bloomberg) -- Sam Altman-backed Oklo Inc. agreed to deliver as much as 750 megawatts of electricity from nuclear reactors it plans to build to two data center companies, as technology companies seek ...

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The Santa Clara, California, based company didn’t identify the customers or provide a timeline for delivering the power. Altman, the chief executive officer of OpenAI, is Oklo’s chairman.Oklo shares gained as much as 14% as of 9:31 a.m. in New York.Demand for electricity in the US is surging, driven by efforts to electrify large swaths of the economy and technology companies that need to power data centers. That’s spurring interest in carbon-free nuclear power, including companies like Oklo that are seeking to develop the next generation of reactors. However, it will be years before any of these companies have products ready for market. “The strong customer response reflects confidence in Oklo’s clean, reliable and affordable power solutions,” Jacob DeWitte, the company’s CEO, said in a statement. Oklo is developing small reactors with either 15 megawatts or 50 megawatts of capacity and has said it expects the first one to come online in 2027. 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