Altman-Backed Oklo Inks Nuclear Power Deal to Feed Data Centers

(Bloomberg) -- Sam Altman-backed Oklo agreed to deliver as much as 750 MW of electricity from nuclear reactors it plans to build to two data center companies, as technology companies seek to line up energy supplies for the booming industry.

The letters of intent with the data center providers bring Oklo’s pipeline of deals to about 2,100 MW, according to a statement Wednesday. The Santa Clara, California, based company didn’t identify the customers or provide a timeline for delivering the power. Altman, the chief executive officer of OpenAI, is Oklo’s chairman.

Demand for electricity in the US is surging, driven by efforts to electrify large swaths of the economy and technology companies that need to power data centers. That’s spurring interest in carbon-free nuclear power, including companies like Oklo that are seeking to develop the next generation of reactors. However, it will be years before any of these companies have products ready for market. 

“The strong customer response reflects confidence in Oklo’s clean, reliable and affordable power solutions,” Jacob DeWitte, the company’s CEO, said in a statement. 

Oklo is developing small reactors with either 15 MW or 50 MW of capacity and has said it expects the first one to come online in 2027. The large, conventional nuclear plants widely used today typically have about 1,000 MW of capacity.

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