Oklo Inc. (OKLO) experienced a significant stock price movement on Wednesday, December 18, plummeting by 5.05% during the trading session. This decline came despite the company's announcement of a landmark strategic relationship with Switch, a leading data center company, to deploy 12 gigawatts of advanced nuclear power.
The partnership between Oklo and Switch is considered one of the largest corporate clean power agreements ever signed. Under this agreement, Oklo will provide Switch with advanced nuclear power solutions, enabling the data center company to meet its ambitious sustainability goals and reduce its carbon footprint.
While the news of the partnership initially boosted Oklo's stock in pre-market trading, the stock ultimately reversed course and closed lower on Wednesday. This unexpected decline could be attributed to profit-taking by investors who had already factored in the positive news or concerns about the feasibility and execution of such a large-scale nuclear power deployment.
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