Here's Why I Wouldn't Touch Oklo With a 10-Foot Pole

• Oklo is successful the aboriginal stages of improvement and hasn't built a azygous reactor.

• The institution is moving done the regulatory process, but apt won't make gross successful 2026.

• Microreactors are inactive unproven, and the superior costs to physique retired the exertion could beryllium substantial.

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Oklo (NYSE: OKLO) has been 2025's astir breathtaking atomic stocks, with a much than 275% summation connected the year. The Sam Altman-backed institution has been positioned arsenic the poster kid for "data halfway nuclear," a next-gen reactor decorator whose "Aurora powerhouse" could powerfulness AI infrastructure.

That, astatine least, is the dream.

Today, Oklo is pre-revenue, and it's successful the precise aboriginal stages of development. How early? Well, for one, it doesn't person the NRC's blessing to physique powerhouses commercially. The institution isn't expected to make gross until 2027, and adjacent then, it's projected to make astir $16 million.

These are each existent reasons to beryllium cautious connected Oklo close now. But they're not the reason wherefore I wouldn't interaction it with a 10-foot pole.

Oklo got a immense valuation boost this year, fueled successful ample portion by the AI information halfway narrative. At today's terms (about $82 a share), Oklo is valued astatine astir $12 cardinal (in large-cap territory), and is valued astatine astir 750 times projected 2027 sales.

To enactment that successful perspective, atomic institution NuScale Power (NYSE: SMR), which already has an NRC-approved tiny modular reactor design, has a astir $5 cardinal marketplace headdress and is trading astatine astir 16 times its projected 2027 revenue.

SMR Revenue Estimates for Current Fiscal Year information by YCharts

In different words, Oklo is valued much richly than a institution that appears further on the commercialization path. To enactment it differently: Oklo is being treated arsenic if it were acceptable to commencement deploying its reactors, portion NuScale is valued much similar what it is: a developer trying to beryllium that microreactors person a spot successful today's vigor landscape.

A affluent valuation is 1 crushed to debar Oklo, but it's not the lone one.

In April 2025, the Department of Energy (DOE) published an nonfiction connected its website, "Advantages and Challenges of Nuclear-Powered Data Centers." The advantages listed were each the ones that person made Oklo basal out: 24/7 power, compact design, grid-free capacity, and flexibility.

However, investors besides request to see the challenges to nuclear-powered information centers.