Oklo is currently trading around $52, down from its peak of $193. The pre-revenue nuclear company is highly speculative but making moves. They acquired Atomic Alchemy in a $25 million stock deal to help with nuclear fuel recycling and isotope production. They also signed their first major commercial agreement with Meta to build a 1.2 gigawatt campus in Ohio for regional data centers. Expenses are rising. Operating costs reached $139 million for 2025, up from $52 million the year before. Everything depends on the company getting an NRC commercial operating license in 2026. Without it, they will have no revenue and just cash burn. The average analyst price target is currently $97.