Has the Surge in Meta's Stock Ended? Oclo Loses $760 Million in Market Cap in One Day

Oklo Inc. (NASDAQ: OKLO), once hailed as a leading small modular reactor (SMR) play, pulled back more than 5% on the New York Stock Exchange on the 13th (local time), taking a breather. At the close, its share price stood at $97.09, down 5.28% from the previous day. The one-day drop erased about $760.8 million in market capitalization—roughly ₩1.102 trillion. Analysts attribute the decline to short-term profit-taking after the stock had surged over 40% in just two weeks following the announcement of a major power-supply deal with Meta Platforms.

The catalysts behind the recent investor enthusiasm were the “nuclear plant for AI data centers” contract with Meta and a new collaboration with the U.S. Department of Energy (DOE). Under the Meta agreement, Oklo will build a 1.2 GW nuclear campus in Pike County, Ohio, to power Meta’s AI data centers. Meta will provide billions of dollars in upfront payments and fuel-procurement financing, with phased commercial operations slated to begin in 2030. In addition, Oklo secured a DOE contract to design, construct, and operate a pilot plant for producing medical and research radioisotopes—adding a second growth pillar to its business.

Thanks to these headline-grabbing agreements, Oklo’s stock has delivered a true roller coaster ride: after a sharp drop at the end of 2025, shares jumped about 46% in two weeks early in 2026. However, commercial reactor operations and regulatory approvals remain some years away, and meaningful revenue is not expected until the early 2030s. As a result, concerns over stretched valuations and the potential for short-term corrections have persisted. Most market observers agree that while the Meta and DOE deals strengthen Oklo’s narrative, heightened volatility is inevitable until the projects are fully proven.

Oklo is a U.S. SMR startup showcasing its next-generation fast-neutron reactor, the Aurora Powerhouse. Its distributed nuclear model deploys multiple small, high-temperature reactors that recycle spent nuclear fuel to deliver customized power to data centers and industrial complexes. Recently, Oklo has been expanding long-term power-supply partnerships with data-center operators and, through its subsidiary Atomic Alchemy, internalizing medical radioisotopes for cancer therapy and medical imaging—advancing an integrated nuclear ecosystem that spans both energy and healthcare.