Sam Altman, the chairman of OpenAI, has now expanded his horizons to include nuclear energy. Altman founded and led a special purpose acquisition company named AltC Acquisition Corp, which brought advanced nuclear fission company Oklo to the New York Stock Exchange. Oklo, which has not yet generated any revenue, saw its shares drop by 54% on its first trading day, valuing the company at around $364 million. The company aims to commercialize nuclear fission by using mini nuclear reactors contained in A-frame structures to sell energy to end users like the U.S. Air Force and tech companies. Oklo is currently building its first small-scale reactor in Idaho, with the goal of eventually powering data centers necessary for artificial intelligence operations.
Altman, as CEO of OpenAI valued at over $80 billion, believes that nuclear energy is essential to address the increasing energy demands of AI technology without relying on fossil fuels. He sees nuclear energy as an effective solution to this problem and has received support from Bill Gates and Jeff Bezos, who have also invested in nuclear plants. Altman views nuclear as a crucial element in transitioning to a cleaner energy future, stating that he does not see an alternative path to meeting these demands without nuclear energy.
Oklo CEO Jacob DeWitte acknowledged in an interview that the company has not generated revenue and has no nuclear plants operational yet. Oklo is aiming for 2027 as the target year for their first plant to come online. Despite the risks associated with SPACs, Oklo pursued this route to raise capital, as the company is targeting opportunities in nuclear, AI, data center needs, and the energy transition. Oklo has faced regulatory setbacks in the past, with the U.S. Nuclear Regulatory Commission denying their application for an Idaho reactor in 2022. The company is working on a new application and engaging with the commission for future progress.
Altman’s involvement with Oklo dates back to his time at Y Combinator, where Oklo was part of the startup incubator in 2014. Altman invested in the company in 2015 and became chairman. Apart from nuclear energy, Altman has also been involved in other infrastructure projects that could support large-scale AI growth. In 2021, he led a $500 million funding round in clean energy firm Helion, which focuses on nuclear fusion development. Helion aims to demonstrate net electricity from fusion by 2024 with the support of this funding round. Altman has also invested in chip endeavors and AI tools that could benefit OpenAI’s operations.
The focus on data centers by Oklo presents exciting opportunities, according to DeWitte. With significant AI compute needs driving demand, there is room for innovative approaches to designing and developing AI infrastructure. Altman’s investments in AI chip startups and emphasis on chip ventures like “Tigris” to compete with Nvidia demonstrate his interest in supporting the technological backbone necessary for AI advancements. Despite challenges in the SPAC market, Altman’s diversification into nuclear energy and other infrastructure projects underscores his commitment to driving innovation in sectors crucial to future technological advancements.
