CNBC's Hayden Field and MacKenzie Sigalos are reporting on Oklo, a nuclear energy company that went public via SPAC.
Sam Altman, CEO of OpenAI, has diversified his interests by becoming the chairman of Oklo, a nuclear power company that recently went public through a special purpose acquisition company (SPAC) merger with AltC Acquisition Corp., also founded by Altman. Oklo, which specializes in advanced nuclear fission and plans to use mini nuclear reactors for energy production, began trading on the New York Stock Exchange under the ticker "OKLO." Despite not yet generating revenue and experiencing a significant stock price drop of 54% on its first trading day, Oklo secured about $306 million from the transaction. The company aims to cater to high energy consumers like the U.S. Air Force and big tech companies, and is targeting 2027 to bring its first reactor online. Oklo's introduction to the market reflects Altman's broader strategy of investing in infrastructure to support large-scale AI growth, including other ventures in nuclear energy and AI chip development.
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Source: CNBC
https://www.cnbc.com/2024/05/10/sam-altman-takes-nuclear-startup-oklo-public-to-power-ai-ambitions.html
(This article was written with assistance from ChatGPT)
