Oklo Inc. is entering the new trading week with its stock still trading above pre-catalyst levels, even as Friday brought a modest cooldown following a rally fueled by U.S. government interest in its fuel technology.
Shares of the advanced nuclear reactor developer closed at $66.88 on Friday, down 1.78% from the prior session. During the day, the stock oscillated between $64.28 and $70.01, with heavy volume of 27.67 million shares changing hands. For the shortened post-Memorial Day week, OKLO still managed a gain of approximately 1.5%, while the broader S&P 500 and Nasdaq both ended Friday slightly higher.
DOE Selection Sparks Rally
The catalyst came Tuesday when Oklo announced that the U.S. Department of Energy had selected the company for advanced negotiations under the Surplus Plutonium Utilization Program. The initiative aims to convert surplus Cold War-era plutonium into fuel for advanced nuclear reactors, under strict U.S. security and safeguard protocols. The DOE is also in talks with four other firms: Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy.
Oklo CEO Jacob DeWitte described the material as a "bridge fuel" that can serve as a temporary source while domestic nuclear-fuel supply chains scale up. "Fuel supply constraints are a key throttle," DeWitte said, noting that some material previously designated for disposal could be repurposed to generate electricity.
Strategic Partnership with Newcleo
Separately, Oklo is collaborating with newcleo, a European advanced nuclear group that recently announced plans for a Nasdaq listing at a $2.4 billion valuation. newcleo CEO Stefano Buono stated that going public should accelerate its reactor deployment and fuel manufacturing efforts in both Europe and the U.S.
In the small modular reactor and fuel space, Friday saw mixed action: NuScale Power rose 3.9%, Centrus Energy fell 1.7%, and Nano Nuclear Energy added 0.8%.
Financial and Operational Milestones
Oklo remains a milestone-driven stock. The company reported a first-quarter net loss of $33.1 million, with $17.9 million in cash used for operations. At the end of March, it held approximately $2.54 billion in cash, equivalents, and marketable securities. The company's Aurora reactor line is designed to deliver between 15 and 75 megawatts of electricity.
Wedbush analyst Daniel Ives, as reported by TipRanks, highlighted Oklo's "build, own, and operate" model as a key differentiator. Wedbush maintained its Outperform rating and $110 price target, noting that the DOE selection gives Oklo more fuel-strategy options without altering near-term deployment timing.
Risks and Outlook
However, the trade could unwind if talks stall, regulatory approvals limit the program, or if investors refocus on the company's losses and the long timeline to commercial operation. Oklo's risk disclosures emphasize that it operates in an emerging industry with no commercial projects yet running, significant regulatory and fuel supply risks, and the potential need for additional capital to build plants.
Price discipline will be key this week. If Friday's close holds, the DOE fuel headline remains a positive catalyst. But if shares drift back toward last week's lows, traders may treat Oklo as an early-stage nuclear bet rather than a de-risked utility.
