Not long ago, the artificial intelligence boom lifted pretty much any stockwith a story to tell about serving electricity to data centers. Investors are getting more fretful about whether there will be enough power demand to go around.
For them, selling into a tight market in the 2030s would be a nice way to fund the continued commercialization of their technologies.
Exhibit A is Oklo, the nuclear-reactor developer backed by OpenAI’s Sam Altman. Its shares have lost roughly 75% of their value since it briefly hit a valuation north of $25 billion last October, around the peak of AI power mania. Oklo has deals to provide more than 14 gigawatts of power for Meta and others, but has yet to secure key permits, let alone build a power plant.
Read more in the Wall Street Journal here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.