Oklo Stock Jumps 28% After Securing Conditional Nuclear Power Deal with U.S. Air Force Base

Oklo Inc. (NYSE: OKLO) saw its stock soar 28% to $67.15 on Wednesday following a major announcement: the U.S. government has conditionally selected the nuclear energy startup to supply nuclear power to Eielson Air Force Base in Alaska using its advanced Aurora fast reactor technology.

The Defense Logistics Agency (DLA) issued Oklo a Notice of Intent to Award, marking a significant milestone for the California-based company. Oklo will deliver both electricity and thermal energy to the remote Air Force base, using its off-grid, small modular reactor (SMR) system. This announcement comes as the S&P 500 rose a modest 0.3%, highlighting the outsized impact on Oklo’s stock price.

Major Win After Legal Delays

Oklo had previously disclosed in its 2024 annual report that it was tentatively selected for the Eielson project. However, progress was delayed in September 2023 when competitor Ultra Safe Nuclear Corporation (USNC) filed a legal protest with the U.S. Court of Federal Claims. USNC, which also works with the Department of Defense and NASA, had proposed a competing modular reactor design.

With the legal challenge now resolved and the conditional award issued, Oklo appears to be back on track to deliver on its first commercial deployment.

“We’re honored to support national defense resilience objectives while showcasing the benefits of fast reactor technology developed in the U.S.,” said Oklo CEO Jacob DeWitte.

Why Oklo’s Aurora Reactor Stands Out

Oklo’s Aurora powerhouse is a compact, fast-spectrum nuclear reactor that offers continuous power and heat without needing grid infrastructure—ideal for isolated or strategic locations like Eielson Air Force Base. The company plans to design, build, own, and operate the facility under a long-term power purchase agreement (PPA) with the Department of Defense.

The reactor uses HALEU (High-Assay Low-Enriched Uranium) fuel and is designed with passive safety features, allowing it to shut down without human intervention—unlike traditional light water reactors.

Regulatory Milestones Still Ahead

The DLA deal remains contingent on regulatory approvals, primarily from the U.S. Nuclear Regulatory Commission (NRC). Oklo recently advanced to Phase 1 of the NRC’s audit for its combined license application. The company also submitted a separate operator licensing model, which—if approved—would allow centralized monitoring and control of multiple reactors.

This approach would streamline reactor operations across various sites, potentially revolutionizing how small nuclear facilities are managed in the future.

Market Reaction & Investor Confidence

The news fueled a dramatic spike in Oklo’s stock price, continuing a red-hot streak. Shares are now up:

• +217% year-to-date

• +561% over the past 12 months

Investor sentiment was also buoyed by a Buy rating from Seaport Research Partners, which cited Oklo’s potential to secure its own nuclear fuel supply in a tight HALEU market—a major advantage in the current U.S. nuclear energy landscape.