Sam Altman is an influential visionary who is essentially the face of AI these days. And while he has a lot to say about the future of AI and the associated revolution to come, I think his investment portfolio is full of gems that stand to profit profoundly from the AI boom, both directly and indirectly. In a prior piece, I highlighted nuclear tech firm Oklo (NYSE:OKLO) as one of the most intriguing names backed by Altman. At the time, it didn’t seem like an obvious play to power the growing number of AI data centers going up.
Nowadays, it couldn’t be more obvious, with various big-tech titans doubling down on their data center efforts. As demand for AI compute rockets higher, data centers are turning to nuclear power to fill in the gap. And while traditional nuclear reactors have their shortcomings, there are firms that are innovating on that front to ensure nuclear energy demands are met in a safe and efficient fashion.
Key Points
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Oklo stock has been a red-hot Sam Altman stock in the past year. It may not be too late to buy, say some analysts.
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The recent Air Force deal is a huge win for the $8.9 billion nuclear power innovator.
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Oklo stock is really heating up. Can it double again?
Back when I highlighted Oklo stock as a Sam Altman stock to own, the nuclear start-up was less well-known. After soaring more than 500% in the past year and 200% year to date, OKLO is the new hot stock in town. Despite the multi-bagger surge, the company still boasts a relatively modest valuation of around $8.9 billion. With the Sam Altman-backed stock now on the radars of traders, though, questions linger as to whether there’s still opportunity to be had in the name.
Indeed, it’s often best to tell oneself they missed a run if they’re chasing without putting in the due diligence. And while OKLO stock could easily get cut in half in a hurry, the name could also stand to double up again if the right cards fall into place. With the company recently announcing a big deal with the Air Force, while winning a big upgrade from a respected Wall Street analyst, perhaps there’s reason to believe the nuclear innovator has more room to the upside over the coming year.
Despite the hot run, a big-name analyst just upgraded the stock.
Jeff Campbell of Seaport Research Partners thinks Oklo stock’s run isn’t over yet, with a recent upgrade to Buy from Neutral. His price target of $71 per share also entails around 10% worth of upside from Thursday’s closing price. Why does Campbell think the blistering hot name is a buy? He thinks the firm can “self-source its nuclear fuel.”
Indeed, Oklo is a leader in small modular reactors (SMR), and there’s a good chance that data center demand for such reactors may still be underestimated. As more big firms commit tens or hundreds of billions to AI data center efforts, perhaps Oklo will have enough support to maintain its extraordinary run.
As with most stocks that have gained triple-digit percentage points in just months, there’s a high risk of a share price meltdown. For those keen on buying on strength, perhaps allocating a portion to buy a dip could make a lot of sense. Oklo stock’s tough to value, as are most hyper-growth companies that explode onto the mid-cap scene.
For now, Oklo continues to be the most exciting Sam Altman stock. But I’ll be in no rush to pick up shares, especially with the name close to new all-time highs. The Air Force deal microreactor is a huge shot in the arm for OKLO, but only time will tell if the big deal is the first of many.
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