Key Points
The company just signed a deal to be provided nuclear fuel for a set of powerhouses in Ohio.
This arrangement begins in 2029.
- 10 stocks we like better than Oklo ›
One standout stock in the energy sector on Thursday was next-generation nuclear company Oklo (NYSE: OKLO). Its shares closed the trading session up 4%, trouncing the bellwether S&P 500 index's barely over 1% gain. A new supply agreement was the key catalyst behind that price rise.
The nuclear option for a social media king
Before market open that day, Oklo and nuclear fuel supplier Centrus Energy Group unveiled a letter of intent, under which Centrus will provision up to five powerhouses currently under construction in southern Ohio.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks »
Image source: Getty Images.
Those small nuclear reactors (SMRs) will be used to supply power for data centers owned by social media company Meta Platforms, the owner of Facebook, Instagram, and WhatsApp. The SMRs are presently being built by Oklo in partnership with Meta.
The letter of intent stipulates that Centrus will supply sufficient quantities of high-assay low-enriched uranium (HALEU) for Oklo's Ohio project. Deliveries of the nuclear fuel will begin in 2029, and last for "multiple years." The two companies didn't put a number, or even a range, on that time frame. They also didn't provide detailed financial particulars of the arrangement.
Justifiably happy with the headline
The Meta project is critical, high-profile work for Oklo. As such, any agreement or contract that pushes it forward is a boon to the company's fortunes, and this letter of intent -- although it's not as strong or durable as an official supply contract -- certainly qualifies.
Investors buying into Oklo on Thursday were right to be satisfied with this news, and I share their bullish view of the company's potential.
Should you buy stock in Oklo right now?
Before you buy stock in Oklo, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Oklo wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $415,040!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,256,076!*
Now, it’s worth noting Stock Advisor’s total average return is 920% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of June 18, 2026.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
