Oklo gains key U.S. DOE support and fuel supply deal, advancing nuclear reactors for AI energy needs.

Oklo, a developer of advanced nuclear reactors, has been selected by the U.S. Department of Energy for negotiations under the Surplus Plutonium Utilization Program, which converts surplus plutonium into reactor fuel. This partnership, along with a potential $2 billion capital infusion from European developer newcleo, addresses critical fuel supply constraints and accelerates Oklo's reactor development. The company recently received regulatory approval for its Aurora reactor design and has a growing customer pipeline including Meta Platforms and Switch. Despite no commercial revenue yet and widening losses, Oklo holds strong cash reserves and targets first commercial power by late 2027 to early 2028. Upcoming milestones include a July criticality test and a regulatory filing decision, which will be key for its commercialization progress.