Oklo Inc. just landed one of the more unusual government contracts in recent memory. The Department of Energy selected the nuclear startup for detailed negotiations under its Surplus Plutonium Utilization Program, a fancy name for turning decades-old weapons-grade plutonium into fuel for next-generation reactors.
Investors noticed. Oklo shares climbed roughly 7% on the news, with the stock hitting an intraday high near $70.05 and trading in a range between $65.88 and $70.05 on elevated volume. Pre-market activity was even more enthusiastic, with movements approaching 12% before settling down.
Cold War leftovers meet clean energy ambitions
Oklo’s pitch is to convert that plutonium into fuel designed for advanced nuclear reactors. The process has to meet stringent safety, security, and accountability measures under US nonproliferation guidelines.
The selection isn’t a done deal. It moves Oklo into the “detailed negotiations” phase, which in government procurement language means there’s still meaningful work before contracts get signed.
