Forbes: Oklo Cofounders Become Billionaires Amid AI-Fueled Stock Surge

According to Forbes, Oklo co-founders Jacob DeWitte and Caroline Cochran have achieved billionaire status, driven by a significant increase in the nuclear fission company's stock value. The husband-and-wife team, both nuclear engineering graduates from MIT, now possess an estimated net worth of $1.7 billion each. This valuation is primarily based on their collective 16% ownership stake in Oklo, supplemented by approximately $30 million realized from previous share sales. The company, established twelve years ago, currently boasts a market capitalization of $21 billion. Oklo's stock has experienced substantial growth, surging 47% in the past week and exceeding a 400% increase over the last six months. This surge is attributed to heightened investor interest in nuclear energy's potential to address the escalating power requirements of artificial intelligence. Further bolstering investor confidence is a recent $350 billion agreement between the U.S. and U.K. governments to invest in AI, quantum computing, and nuclear energy initiatives. Moreover, Oklo recently commenced construction on its inaugural nuclear power plant at the Department of Energy's Idaho National Laboratory. Established in 2013 and named after uranium-rich deposits in Gabon, Oklo is led by DeWitte as CEO and Cochran as COO. At 42 years old, Cochran is one of only approximately three dozen self-made women billionaires in the United States and one of just six under the age of 50. Despite its impressive valuation, Oklo has yet to generate revenue and currently operates at a loss, reporting losses of approximately $25 million in the second quarter. Forbes also reports that the company maintains a long-standing relationship with Secretary of Energy Chris Wright, who previously served on Oklo's board of directors.