Investment research firm Smartkarma released a primer on Oklo. This followed significant stock volatility after the company secured a major power agreement with Meta earlier this month.
The report outlines Oklo's business model. Oklo builds, owns, and operates small-scale, fast fission reactors. It sells power directly to high-demand clients, such as data centers.
The analysis underscores substantial execution risks facing the pre-revenue company. Key challenges include navigating the complex U.S. Nuclear Regulatory Commission (NRC) licensing process. The company must also secure a reliable supply of High-Assay Low-Enriched Uranium (HALEU) fuel. Finally, Oklo must manage the high capital intensity of reactor development before generating revenue.