Oklo (NYSE:OKLO) surged nearly 18% in premarket trading on Friday after the company announced a major commercial partnership with Meta Platforms that is set to accelerate development of a planned 1.2-gigawatt nuclear power campus in southern Ohio.
Under the agreement, Meta will prepay for future electricity and provide upfront capital to help finance the development of Oklo’s Aurora powerhouse technology. Oklo said the funding will be used to secure nuclear fuel supplies and advance Phase 1 of the Pike County project.
Co-founder and chief executive Jacob DeWitte said the company’s “vision is becoming a reality,” adding that “Meta’s funding commitment in support of early procurement and development activity is a major step in moving advanced nuclear forward.”
Meta said the project will help support the expansion of its regional infrastructure, including its AI supercluster located in New Albany, Ohio. Urvi Parekh, Meta’s head of global energy, said the initiative would “create jobs, spur local innovation, and advance American leadership in energy technology.”
Wedbush analyst Dan Ives described the agreement as a key milestone, noting that Oklo “agrees to supply Meta with 1.2 GW” as part of a broader 6.6-gigawatt nuclear procurement strategy involving multiple developers. He said the deal “provides OKLO with the necessary capital from commercial partners to advance power infrastructure to support future data center capacity,” and added that it highlights how hyperscale technology companies are turning to new energy sources as the “AI Revolution” gains momentum.
Oklo expects to begin pre-construction work later this year, with the first phase of the project targeted for completion around 2030 and full capacity planned by 2034. Ives added that the announcement is “incrementally positive for the entire nuclear energy industry” as demand for clean, reliable baseload power continues to rise.