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Oklo (OKLO.US) partners with Switch to supply nuclear power for data centers

Market IntelWednesday, Dec 18, 2024 8:50 am ET

1min read

Oklo (OKLO.US), a nuclear technology company, announced on Wednesday that it has entered into a non-binding master power purchase agreement with Switch to deploy the Oklo Aurora power plant project with 12 gigawatts by 2044.

The master agreement establishes a cooperative framework, with binding agreements expected to be finalized as project milestones are met. Under the master agreement, Oklo will develop, construct, and operate the power plant to supply electricity to Switch facilities across the United States.

“We are thrilled to have reached this historic agreement with Switch. We share a vision that nuclear power plays a critical role in driving artificial intelligence and providing abundant energy for the world,” said Jacob DeWitte, co-founder and CEO of Oklo.

Switch is a technology infrastructure ecosystem company that provides artificial intelligence, cloud, and enterprise data centers.

As of writing, Oklo rose 12.67% premarket to $21.52. The stock has gained 80% year-to-date.

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