Why These Energy Stocks are Losing This Week

2. Oklo Inc. (NYSE:OKLO)

Share Price Decline Between Nov. 19 – Nov. 26: 13.75%

Backed by OpenAI’s Sam Altman, Oklo Inc. (NYSE:OKLO) develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to customers in the United States.

Oklo Inc. (NYSE:OKLO) was among the nuclear stocks that came under pressure after the success of the latest AI model from Google and amid news of a rumored chip deal between Meta and Alphabet. The nuclear sector, being a primary candidate to power the anticipated surge in energy demand from the AI boom, has received widespread investor attention this year.

The recent success of Gemini 3 has complicated things, as the Tensor Processing Units (TPUs) used to train it are significantly more energy-efficient than the GPUs used so far. If these TPUs become the industry standard, the energy required to power data centers will be much lower than previously expected. This puts nuclear energy startups like Oklo Inc. (NYSE:OKLO) at risk, especially since the company’s share price has already surged by over 300% so far this year, with zero revenue and higher-than-expected losses in its last quarterly report.

However, it needs mentioning that on November 24, Citi analyst Vikram Bagri significantly raised the firm’s price target on Oklo Inc. (NYSE:OKLO) from $68 to $95, while maintaining a ‘Neutral’ rating on the shares, following the Q3 report and a meeting with the company’s management. The updated price target incorporates Oklo’s radioisotope business, with the analyst viewing the nuclear startup as ‘executing on all fronts’.