Oklo's shares are down 55% this year and hit a new 52-week low on Tuesday, just above $31, the lowest since May of last year. Market cap is just under $6 billion. Operating loss for the first six months totaled $124.2 million, more than double the $45.9 million loss a year earlier, while the Aurora plant at Idaho National Laboratory is not expected to begin commercial operations until at least late next year. The author argues the valuation remains high for an early-stage business, and that rising interest rates and AI bubble concerns make Oklo a speculative, risky stock, so a wait-and-see approach is warranted.
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