Altman-Backed Oklo Sees Data Centers Boosting Nuclear Demand

(Bloomberg) -- A day after announcing a deal to provide nuclear energy to a data center, Oklo Inc. says it expects to sign additional contracts from the power-hungry industry. 

About 80% of Oklo’s inbound inquiries are coming from data center operators, according to Jacob DeWitte, chief executive officer of the company that is backed by Sam Altman, CEO of the AI firm OpenAI Inc. It went public this month through a merger with Altman’s AltC Acquisition Corp.

Oklo agreed Thursday to deliver 100 megawatts of power to Wyoming Hyperscalar to run a data center campus. “This is just a scratch on the tip of an iceberg,” DeWitte said in an interview Friday at Bloomberg’s headquarters in New York. “There’s going to be a lot more.”

While utilities are racing to meet demand that’s forecast by some analysts to soar thanks to artificial intelligence and data centers, it will be years before Oklo can help meet that need. The Santa Clara, California-based company has yet to receive regulatory approval to build its reactor and DeWitte said it’s unlikely one will be in service before 2027. 

©2024 Bloomberg L.P.