Cathie Wood has bought shares of a small modular reactor (SMR) startup company, Oklo.
ARK Invest, by Cathie Wood, purchased 281,490 shares of Oklo through its exchange-traded fund (ARKQ). The total amount is approximately $2.4 million. This is the first time Oklo has been added to the ARK Inves portfolio.
Established in 2013, Oklo is a small reactor company based in California. Sam Altman has invested in Oklo since 2014 and has become a board member. He founded OpenAI and is the “father of generative AI,” ChatGPT. Altman invested in the company, eyeing the potential demand in the AI industry. Oklo went public on NASDAQ this May through a merger with a special purpose acquisition company (SPAC), AltC.
Oklo is vigorously developing small reactors with an operation date of 2027. They are currently working on building their first small reactor at the Idaho National Laboratory.
One of their small reactor, Aurora, uses donut-shaped nuclear fuel and a heat pipe that can effectively cool down the heat. Aurora uses nuclear waste as fuel. It is a clean power plant expected to be commercialized in 2025 with investment from the U.S. Department of Energy (DOE).
Unlike conventional nuclear power plants, Oklo plans to supply power by miniaturizing the reactor. While traditional nuclear power plant construction requires a considerable area of land, an Oklo power plant can be built on 81,000 square feet.
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