Oklo Inc. stock fell 9.84% between January 9 and January 16, 2026. This decline stems from a market correction driven by investors taking profits. The stock had surged nearly 47% earlier in January. That surge followed the announcement of a major nuclear power agreement with Meta.
Adding competitive pressure, geothermal company Ormat announced a new 20-year power purchase agreement. The PPA is with data center operator Switch. This development prompted investors to consider geothermal energy as an alternative to nuclear power for meeting AI sector energy demands. This shift impacts sentiment regarding Oklo’s long-term growth prospects.