Oklo Inc. (NYSE: OKLO) and Siemens Energy have signed a binding contract for the design and delivery of the power conversion system for Oklo’s Aurora powerhouse. The agreement authorizes Siemens Energy to begin engineering and design work to expedite procurement of long-lead components and initiate the manufacturing process for the power conversion system. This partnership on key components combines Oklo’s expertise in advanced fission technology with Siemens Energy’s industry-leading steam turbine and generator systems to deliver clean, reliable electricity using proven industrial equipment.
Ten large-cap names including IREN, CoreWeave, IonQ, Bloom Energy, Symbotic, and other tech/crypto/energy plays sank sharply last week on weak guidance, analyst downgrades, sector-wide tech and Bitcoin sell-offs, and mixed quarterly results.
Oklo shares are trading lower Thursday afternoon, caught in a broader risk-off market slide that has disproportionately impacted high-growth, pre-revenue sectors.
The U.S. market moved cautiously on Wednesday. While the broader tech sector slipped again, AMD took center stage with an aggressively optimistic outlook. Meanwhile, the end of the U.S. government shutdown finally appears in sight, and investors are bracing for fresh economic data and clues from the Federal Reserve.
