Oklo

Type: Company — Public SMR developer (microreactor)

Oklo is building the Aurora microreactor — a 15 MWe sodium-cooled fast reactor designed to run on recycled nuclear fuel (HALEU from reprocessed spent fuel). It went public in 2024 via a SPAC merger. Chairman: Sam Altman (also Helion's primary backer). The Aurora is designed for small-scale, remote, or datacenter-adjacent deployment.

Technology

• Aurora: 15 MWe sodium-cooled fast reactor; compact form factor; uses HALEU fuel
• Fuel recycling: Oklo is designing systems to process spent nuclear fuel into HALEU — the vision is a closed fuel cycle
• Target market: Remote sites, mining, military, small datacenters

Key Status

• NRC license application submitted; rejected in 2022 due to insufficient safety data; refiled/in process
• No commercial reactor has been built
• Timeline to first reactor: best-case 2027-2028 (pending NRC approval), more likely 2030+

Notable

• Sam Altman as chairman creates natural alignment with OpenAI/Microsoft data center power needs
• Market capitalization appears to price significant regulatory success ahead of actual progress
• One of the smallest SMR designs; multiple Auroras would be needed to power a meaningful datacenter load

Key Claims (new sources)

• Oklo is one leg of Meta's up-to-6.6 GW nuclear deal: an Ohio campus targeting 1.2 GW, with first reactors as early as 2030. Oklo did not yet hold an NRC construction permit at deal announcement. Evidence: weak (single news item, Latitude Media)
• Oklo targets its first reactor ~2027, ahead of most SMR peers, but is measured against NuScale, the only NRC design-certified US SMR. Evidence: moderate (multi-source synthesis, hyperscaler-nuclear-procurement)

Outstanding Questions

• When will Oklo receive NRC construction permit?
• Can HALEU fuel recycling actually be demonstrated at commercial scale?
• What is the cost per MWh for Aurora at small scale (15 MWe)? Economics may be challenged vs larger units.
• How does a 15 MWe Aurora design reconcile with the 1.2 GW Meta Ohio target? (Many units, or a larger product not detailed in the source)

Changelog

• 2026-06-24 — Compiled new sources (meta-66gw-nuclear-deal, hyperscaler-nuclear-procurement)