Sam Altman's Nuclear Venture Oklo Receives Shareholder Approval for NYSE Listing

Oklo to Debut on NYSE

Open AI CEO Sam Altman, a name that has become a byword for AI, has received investor approval for his latest venture, Oklo. This nuclear company is scheduled to list on the NYSE this Friday through a SPAC. Until then, the company will trade under the symbol ALCC, but will debut as OKLO at the end of the week. Altman serves as the chairman of Oklo, a company that designs and deploys advanced fission power plants to provide clean, affordable energy for the burgeoning number of data centers across the country, a key part of the AI revolution.

Oklo's Deal with AltC Acquisition Corporation

Oklo will finalize its deal with AltC Acquisition Corporation today. The merger with AltC, a SPAC backed by Altman and Michael Klein, valued Oklo at $850 million when announced in July. As per a press release issued yesterday, AltC stockholders voted in favor of the business combination between AltC and Oklo, a company specializing in fast fission clean power technology and nuclear fuel recycling. Almost 100% of the votes cast at the meeting, representing about 72.7% of AltC's outstanding shares, approved the business combination.

Oklo's Mission and Future Plans

Oklo's mission is to provide clean, reliable, affordable energy on a global scale through the design and deployment of next-generation fast reactor technology. Oklo, which aims to deploy its first commercial advanced reactor in the U.S. before the end of the decade, signed a non-binding letter of intent with Diamondback Energy last month to collaborate on a 20-year power purchase agreement.

Investor Support for Oklo

Investors like Jeff Bezos, Bill Gates, and Peter Thiel, who are key players in the AI revolution, are backing nuclear fusion startups. Sam Altman, who invested in Oklo in 2015, believes that the company is "best positioned to commercialize advanced fission energy solutions," according to a press release in July.

Michael Klein's Successful De-SPACs

The completion of the Oklo merger will mark Michael Klein's fifth successful de-SPAC, following the closure of two blank-check firms last year. Last week, he returned to the SPAC market with Churchill Capital Corp. IX, raising $287.5 million. Despite the dip in popularity of SPACs after the 2020-2021 boom, there has been a modest revival with serial sponsors like Klein, Nabors Industries, Mistral Capital, and Eric Rosenfeld raising millions for new deals.

Altman's View on AI and Energy

Altman, who partnered with another power company, Exowatt, earlier this year to focus on clean energy for AI power, agrees that the two limiting commodities in the world today are intelligence and energy. He expressed this view in an interview with CNBC in 2021.

Investment Opportunities in Powering Up America

In our previous report, "The Next AI Trade," we outlined various investment opportunities for powering up America, most of which have dramatically outperformed the market. In the next iteration, we will likely add Oklo to the list of beneficiaries certainly ahead of the inevitable cascade of Buy ratings sure to flood the name over the next month.

What's Your Take?

What do you make of Sam Altman's latest venture, Oklo, and its upcoming NYSE listing? It's clear that the world of AI and energy is evolving rapidly, and ventures like Oklo are at the forefront of this revolution. Share your thoughts on this article and don't forget to share it with your friends. Also, remember to sign up for the Daily Briefing, which is delivered every day at 6pm.