Oklo Inc. (NYSE: OKLO) was trading at approximately $66.58 on Friday, May 22, up from a prior close of $65.09, having moved within a session range of $66.03 to $69.72 in volume of around 13 million shares.
The gain built on a strong mid-week surge, with the stock having risen nearly 12% on Wednesday, May 20, from $55.88 to $62.58 as sentiment around nuclear power for AI data centres remained elevated.
OKLO’s 52-week range of $43.63 to $193.84 underscores the extraordinary volatility the stock has experienced, with the current price sitting roughly 66% below the all-time high reached earlier in 2026.
The company reported its Q1 2026 financial results earlier in May, confirming that its customer pipeline has expanded to approximately 14 gigawatts of potential electricity demand, a substantial increase from prior disclosures.
Oklo’s pipeline includes a landmark agreement with Meta for up to 1.2 gigawatts of nuclear power capacity to be developed in southern Ohio, with pre-construction and site characterisation work slated to begin in 2026 and the first phase targeted to come online as early as 2030.
Oklo also entered an agreement with NVIDIA and Los Alamos National Laboratory earlier this year to advance AI-enabled nuclear fuel research and digital twin modelling, embedding the company further within the AI infrastructure ecosystem.
The Department of Energy formalised an Other Transaction Authority agreement with Oklo’s subsidiary Atomic Alchemy as part of the federal Reactor Pilot Program, which aims to achieve reactor criticality by July 4, 2026.
Oklo’s Aurora Powerhouse is designed as a compact fast fission reactor that sells electricity directly to customers rather than simply building reactors, a business model that analysts say creates more predictable long-term revenue when power purchase agreements are signed.
Revenue is not yet being generated, with the company carrying a negative price-to-earnings ratio of approximately negative 69 to negative 182 depending on the data source, as it remains in the pre-commercial phase.
The average 12-month analyst price target for OKLO stands at $89.22, implying upside of approximately 34% from Friday’s close, with 14 of 15 covering analysts carrying buy ratings.
