Oklo's Meta Deal Marks 'Meaningful Step Forward,' BofA Says in Upgrade

MT Newswires Live00:02

Oklo's (OKLO) agreement with Meta (META) to develop a 1.2-gigawatt advanced nuclear power campus in Ohio to support regional data centers demonstrates "real execution progress with prepayments signaling advanced nuclear moving from concept to delivery," BofA Securities said Wednesday in a report.

BofA raised its rating on Oklo stock to buy from neutral and lifted its price target to $127 from $111.

"We continue to favor Oklo's business model," seen as the most directly exposed among public small modular reactor developers to rising data-center power demand, BofA said.

Meta's willingness to commit capital years ahead of delivery, underscores the importance of nuclear as AI and data-center demand accelerates, the report said.

Meta has already prepaid $25 million for Phase 1 of the project, funding fuel procurement, site preparation, and early development work, BofA said.

Oklo shares rose 5% in Wednesday trading, and Meta climbed 1.5%.

Price: 94.69, Change: +4.76, Percent Change: +5.29

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