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Oklo Stock Jumps, Retreats in Whipsaw Trading After Switch Announcement [Video]

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Startup Funding

Oklo (OKLO), a nuclear energy startup, announced a partnership on Wednesday with Switch, a data center provider that works in the cloud and artificial intelligence (AI) industries.

The stock swung wildly as investors digested the news. The stock was recently up less than 1% at around $19 after rising to near $23 in earlier trading.

The sides announced a power agreement for Oklo’s nuclear “powerhouses” to provide 12 gigawatts of power to Switch’s data centers over the next two decades. The companies called it a “framework for collaboration,” and said smaller individual agreements will likely be announced later as the projects reach certain milestones. Financial details were not included in the companies’ statement.

“We believe that working with Switch will not only accelerate our early powerhouses but also accelerate our ability to scale by demonstrating customer demand for decades to come,” Oklo co-founder and CEO Jacob DeWitte said in a statement.

Oklo is in …

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