Oklo Stock Is Trading Volatile Tuesday: Here's Why

Oklo Inc OKLO shares are moving volatile Tuesday alongside several nuclear names after Meta Platforms Inc META signed a long-term deal with Constellation Energy Corp CEG for the supply of nuclear energy.

What Happened: Meta and Constellation signed a 20-year power purchase agreement in which the Clinton Clean Energy Center will support Meta’s operations in the region with 1,121 megawatts of emissions-free nuclear energy. 

The agreement supports the relicensing and continued operations of Constellation’s Clinton nuclear facility beginning in June of 2027. Under the deal, Clinton will add 30 megawatts of increased output from nuclear uprates.

“Last year, Constellation’s announced plan to restart the Crane Clean Energy Center became national news, but despite all of the interest and overwhelming support, a key question was missed: why did we let such a valuable plant close in the first place? We all know that the closure cost our community jobs, tax revenue, more pollution and higher prices,” said Joe Dominguez, president and CEO of Constellation Energy.

“We are proud to partner with Meta because they asked that important question, and even better, they figured out that supporting the relicensing and expansion of existing plants is just as impactful as finding new sources of energy. Sometimes the most important part of our journey forward is to stop taking steps backwards.”

Multiple nuclear names were getting a boost from the deal on optimism that similar deals could continue to be announced across the Industry.

Oklo is backed by OpenAI's Sam Altman, who recently stepped down as board chair to give the company more flexibility to go after partnerships with hyperscalers. The company said in May that it's targeting plant operations in late 2027 or early 2028.

OKLO Price Action: Oklo shares were down 2.27% at $51.26 at the time of publication Tuesday, according to Benzinga Pro.

Read Next:

• Oklo CEO Says Recent Developments Surrounding Nuclear Could Move Company Timelines Forward

Photo: Poetra.RH/Shutterstock.