Oklo Frees Up with Altman's Departure as Board Chair
Company - People | Apr 22, 2025 | EIN
Sam Altman, head of OpenAI, is stepping down as chairman of Oklo, a nuclear startup, after facilitating its public entry via a merger with his special purpose acquisition company, AltC Acquisition Corp., in May 2024. This move is intended to allow Oklo, which specializes in advanced nuclear reactors, the freedom to engage more deeply with AI companies, including potentially OpenAI. Oklo’s Aurora reactors are noted for their simple and scalable designs, providing 75 to 100 megawatts of power, and the company recently signed a deal to provide significant power to data center company Switch. However, it is still in pursuit of contracts with major cloud infrastructure companies, known as hyperscalers, who have shown interest in their emissions-free power. Oklo aims to launch its primary reactor at Idaho National Laboratory before the decade ends. Following Altman’s announcement, Oklo’s stock fell by 12%. Caroline Cochran, Oklo’s co-founder and COO, emphasized continuing strategic partnerships to support AI deployment. Meanwhile, CNBC highlights its upcoming Pro LIVE event aimed at financial professionals, emphasizing networking opportunities to navigate uncertain markets.
Sectors
- Nuclear Energy
- Artificial Intelligence
- Mergers and Acquisitions
Geography
- United States – Oklo is planning to launch its primary reactor in Idaho, and Altman's involvement is with US-based companies like OpenAI.
Industry
- Nuclear Energy – Oklo is a nuclear startup developing advanced reactors for clean energy, crucial for understanding the industry focus of this article.
- Artificial Intelligence – Sam Altman is a key figure at OpenAI, and the article discusses potential collaborations with AI companies, indicating an AI industry relevance.
- Mergers and Acquisitions – Oklo's public transition through a merger with AltC Acquisition Corp. positions M&A as a significant part of the article context.
Financials
- 12% – Oklo's share drop percentage after Altman's announcement.
- 12 gigawatts – Power capacity agreed to be supplied by Oklo to data center company Switch.
- 75-100 megawatts or more – The power capacity range for Oklo's Aurora reactors.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Oklo | Target Company | Company | A nuclear startup specializing in advanced reactors. |
| Sam Altman | Former Board Chair | Person | Head of OpenAI and former chair of Oklo's board. |
| AltC Acquisition Corp. | Bidding Company | Company | Sam Altman's special purpose acquisition company that facilitated Oklo's public listing. |
| OpenAI | Potential Partner | Company | An AI company founded by Sam Altman, with potential future collaborations with Oklo. |
| Switch | Client | Company | A data center company that signed a power agreement with Oklo. |
| Caroline Cochran | Co-founder & COO | Person | Co-founder and Chief Operating Officer of Oklo. |
| Idaho National Laboratory | Facility Location | Government | Site where Oklo plans to launch its first reactor. |