Oklo surges 46% after $1.5 B equity raise and Meta’s 1.2 GW Ohio campus deal
OKLO shares fell 21.5% in December after launching a $1.5 billion at-the-market equity offering and profit-taking, then surged 46% in early January on strategic deals. The company secured Meta’s funding for a 1.2 GW Ohio nuclear campus with first power by 2030 and a DOE radioisotope pilot plant agreement.
1. Oklo Secures Multi-Billion Dollar Power Campus Deal with Meta
Oklo co-founder and CEO Jacob Dewitte confirmed that the company has signed a definitive agreement with Meta to develop a 1.2-gigawatt nuclear power campus in Ohio. Under the terms, Meta will provide over two billion dollars in funding to support site preparation, permitting and construction of Oklo’s fast-fission Aurora reactors. Pre-construction activities are scheduled to commence in mid-2026, with the first reactor unit expected to achieve commercial operation by 2030. This campus will generate reliable baseload power dedicated to Meta’s AI data centers, and represents Oklo’s largest single customer commitment to date, underpinning long-term cash flow visibility and reducing financing risk for subsequent phases of development.
2. Department of Energy Radioisotope Pilot Plant Partnership
In December, Oklo secured a contract with the U.S. Department of Energy to design, build and operate a radioisotope production pilot plant under the DOE’s Reactor Pilot Program. The facility, to be located adjacent to Oklo’s existing technology demonstration site, will manufacture critical medical isotopes used in cancer diagnostics and treatment. The pilot plant is expected to produce 100 millicuries per week of key isotopes such as molybdenum-99 and iodine-131, reducing U.S. reliance on foreign suppliers. Construction is slated to begin in early 2027, with first isotope shipments projected for mid-2028, representing a potential new revenue stream outside of electricity sales.
3. Stock Volatility Driven by Equity Offering and Profit-Taking
Oklo shares declined by 21.5% in December after the company announced a $1.5 billion at-the-market equity offering, which raised concerns about potential dilution for existing investors. The offering was executed to fund ongoing design work, licensing activities and early construction costs for the Ohio campus. Investors also booked profits following a 700% rally through October 2025, causing a 46% drop between November and December. However, strong January demand pushed the stock up nearly 46% in the first two weeks of 2026, as market participants reacted positively to both the Meta partnership and the DOE pilot plant award, viewing these developments as validation of Oklo’s commercial prospects and a signal of de-risked execution milestones.