Oklo Stock Rises on DOE Plutonium Deal Selection, May 28

The U.S. Department of Energy announced May 27 that it selected five nuclear companies, including Oklo, for advanced negotiations under the Surplus Plutonium Utilization Program. The deal would convert 20 metric tons of Cold War weapons-grade plutonium into fuel for advanced reactors. This marks a major shift in U.S. nuclear policy and opens a new fuel supply pathway for the emerging advanced reactor industry.

What the DOE Deal Covers

The Surplus Plutonium Utilization Program aims to convert surplus government plutonium stockpiles into fuel for advanced nuclear reactors. The five selected companies are Oklo, Exodys Energy, SHINE Technologies, Standard Nuclear, and Flibe Energy. Oklo will lead the utilization effort in partnership with European reactor developer newcleo, which will contribute fuel expertise and potential project capital. No final deals have been signed yet. All conversions must meet strict U.S. security, safeguards, and material accountability requirements.

Why This Matters for Nuclear Energy

Fuel supply constraints are a major bottleneck for advanced reactor deployment. The program converts material already set aside for disposal into usable fuel, creating what officials call a “disposition through use” pathway. This approach turns a long-term nuclear waste management challenge into a domestic energy resource. The deal aligns with Trump administration executive orders to revive nuclear investment and halt plans to bury surplus plutonium underground in New Mexico.

Oklo’s Stock Response and Analyst View

Oklo stock fell 1.28% to $67.82 USD on May 28, despite the positive news. The company holds a Meyka grade of B with a 12-month price target of $144.47 USD, implying 113% upside from current levels. Analysts rate the stock with a consensus Buy rating. The selection complements Oklo’s existing fuel strategy and October 2025 partnership with newcleo, which includes plans for up to $2 billion in U.S. fuel fabrication infrastructure investment.

Broader Nuclear Sector Impact

Other nuclear-focused stocks also moved on the announcement. Nano Nuclear Energy (NNE) fell 5.88% to $27.36 USD, while Eagle Nuclear (NUCL) dropped 8.58% to $10.12 USD. The program signals government commitment to advanced reactor development and domestic fuel independence. Democrats have criticized the plutonium transfer as departing from long-standing bipartisan nuclear security policy, adding regulatory uncertainty to the timeline.

Final Thoughts

Oklo’s selection in the DOE plutonium program validates its fuel strategy but faces regulatory hurdles. With Meyka rating the stock a B and targeting $144.47 USD, the data points to significant upside if the deal closes and fuel supply constraints ease.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.