Given Altman’s key AI role, Oklo too, will be a major player, Wedbush said.
According to Wedbush, the “AI revolution” is driving demand for clean energy to power AI initiatives with the need for computing power only expected to grow. Oklo, it says, is in a great position to capitalize on the elevated demand.
Further, the company’s business model involves selling its power directly to customers and not the reactors under long-term contracts, enabling it to make long-term recurring revenues, it said.
Why It Matters: Oklo, however, is yet to make a revenue and reported a net loss of over $63 million for the nine months through the end of September.
Oklo shares closed up 7.8% at $41.82 on Friday. The stock is up 91.4% year-to-date, according to data from Benzinga Pro.
Oklo has a consensus price target of $28.67 based on the ratings of 4 analysts tracked by Benzinga and a consensus “buy” rating.
Earlier this month, Citigroup increased the stock’s target price to $31 from $10, while maintaining a “neutral” rating.
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Photo courtesy: Oklo
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