OpenAI CEO Sam Altman may not have a stake in the company he runs. Still, he has his eggs in other potentially huge baskets, like Oklo, a California startup developing new nuclear fission technology that just signed one of the largest corporate zero-emissions energy deals ever.
The news. Oklo, backed and chaired by Altman, recently signed a deal with Switch to provide 12 GW of nuclear capacity to the U.S. giant. Switch operates data centers for Google, Nvidia, Tesla, PayPal, JP Morgan Chase, and others.
Oklo has committed to building enough small modular reactors (SMRs) by 2044 to provide up to 12 GW of power for Switch’s data centers. Oklo would operate these advanced nuclear power plants and sell the electricity to customers through Switch.
One nuance. The deal isn’t binding and hasn’t excited investors in the NYSE-listed nuclear startup. One reason to be wary of Oklo is that it has yet to receive approval from the U.S. Nuclear Regulatory Commission (NRC) to begin operations. Its previous application was rejected in 2022.
Whether Oklo gets NRC approval will determine whether these reactors are built and generate safe, emissions-free power. But that’s just the first step: The startup must also prove it can build hundreds of SMRs, starting with 15 MW and then 50 to 100 MW, to reach an installed capacity of 12 GW by 2044.
Altman’s role. Altman chairs Oklo’s board of directors and has been an investor since its seed round in 2015, after founders Jacob DeWitte and Caroline Cochran, both MIT graduates, went through the Y Combinator accelerator.
Earlier this year, Oklo completed a reverse merger with AltC, a company led by Altman whose sole purpose was to execute a future acquisition or merger. Following the transaction, Oklo went public.
Oklo’s technology. The nuclear fission startup aims to have its first Aurora plant ready in 2027. Instead of a conventional nuclear power plant, it will be a liquid metal-cooled SMR. This advanced system reduces power output in exchange for improved system safety and efficiency.
However, the company’s goals and the agreement with Switch are a dead letter if Oklo fails to receive NRC approval. The company plans to reapply in 2025, hoping that the new administration and legislation taking effect next year will speed up the process.
Image | TechCrunch | Oklo
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