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OKLO Stock Alert: 7 Things to Know as Sam Altman-Backed Oklo Starts Trading Today

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Oklo (NYSE:OKLO) stock is a hot topic on Friday as the “fast fission” clean power technology and nuclear fuel recycling company’s shares started trading today.

Let’s get into everything investors need to know about OKLO stock going public below!

OKLO Stock Goes Public

  • Oklo is now trading on the New York Stock Exchange under the OKLO stock ticker.
  • This comes after it completed a special purpose acquisition company (SPAC) merger with AltC Acquisition Corp yesterday.
  • Sam Altman was a major force behind this SPAC merger as he is the chairman of Oklo and previously served as the CEO of AltC Acquisition.
  • This SPAC merger resulted in Oklo receiving gross proceeds of $306 million.
  • Oklo intends to use these funds for its business plan, which includes the “initial deployment” of its Aurora powerhouse.
  • Oklo plans to use its owner-operator model to generate consistent “recurring revenue and cash flow streams” through long-term contracts for power.
  • The company says there is already interest for its products in the data center, artificial intelligence (AI), industrial, defense and energy markets.

Oklo Chairman and OpenAI CEO Sam Altman said the following about Oklo going public in a news release:

“As one of the initial investors in the company, I’ve seen first-hand how Oklo has proven itself to be a clean energy leader and innovator, developing a cost-competitive go-to-market strategy, and solidifying important relationships with regulators, customers, and suppliers. There are huge growth opportunities ahead.”

OKLO stock is down 30.9% on Friday afternoon.

There are plenty more stock market stories ready to go below!

We have all of the hottest stock market news traders need to know about on Friday! A few examples include what’s happening with Novavax (NASDAQ:NVAX), Vacasa (NASDAQ:VCSA) and Trump Media & Technology (NASDAQ:DJT) stock today. You can catch up on all of these stories at the following links!

More Friday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2024/05/oklo-stock-alert-7-things-to-know-as-sam-altman-backed-oklo-starts-trading-today/.

©2024 InvestorPlace Media, LLC

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