At around 3.40pm , the share price of nuclear energy start-up Oklo was down 53.9 per cent to US$8.40 . — Reuters picNEW YORK, May 11 ― The share price of nuclear energy start-up Oklo, chaired by OpenAI boss Sam Altman, fell sharply yesterday on its first day of trading on Wall Street.Founded in 2013 by graduates of the Massachusetts Institute of Technology , Oklo went public by merging with AltC Acquisition Corp, a listed company.
But transactions involving a SPAC are often highly volatile, partly because they are more exposed to speculation than traditional IPOs.Altman is involved in several cutting-edge sectors and invested in Oklo in 2015, also becoming its chairman.Oklo plans to build small modular reactors , which are theoretically quicker to build than conventional power plants and less complicated to construct in remote areas. Oklo also wants to offer nuclear fuel recycling.
The startup does not yet have a site of its own, and in January 2022 was refused a licence to build an SMR in Idaho by the Nuclear Regulatory Agency .