OKLO · 10-K filed 17 Mar 2026 · year to 31 Dec 2025

Oklo

34 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Meta Platforms, Inc.

earns from · 1.2 gigawatt

On January 5, 2026, we entered into a prepayment agreement (the "Prepayment Agreement") with Meta Platforms, Inc. (“Meta”) that advances plans to develop a 1.2 gigawatt power campus in Pike County, Ohio, to support Meta’s data centers.Business (Item 1)

Also named by CLS, CRWV, ETR

Switch, Ltd.

earns from · 12 gigawatt (GW)

In December 2024, we signed a 12 gigawatt (GW) Master Power Agreement with Switch, Ltd. ("Switch"), one of the largest corporate power purchase agreements ("PPA") in history.Business (Item 1)

Equinix, Inc.

earns fromnamed as a risk

For example, we have signed non-binding letters of intent with Equinix, Inc. ("Equinix"), Diamondback E&P LLC ("Diamondback Energy"), and Prometheus Hyperscale (formerly Wyoming Hyperscale White Box LLC) ("Prometheus Hyperscale").Business (Item 1)

Also named by APLD, DLR

Diamondback E&P LLC

earns fromnamed as a risk

Prometheus Hyperscale

earns fromnamed as a risk

Data centers / artificial intelligence demand

earns fromnamed as a risk

If these assumptions prove incorrect, it may impact the business plans of these customers or prospective customers, which may reduce their need for our products or services, and may even lead to them canceling or renegotiating contracts with us.Risk factors (Item 1A)

Tennessee Valley Authority (TVA)

earns from

We are exploring opportunities with the Tennessee Valley Authority (“TVA”) to recycle the utility’s used fuel at a new facility and to evaluate potential power sales from future Oklo powerhouses in the region to TVA.Business (Item 1)

Also named by CORZ, PPL

Suppliers

Siemens Energy, Inc.

depends onnamed as a risk

The execution, termination, expiration, or failure to renew agreements with our suppliers, including, but not limited to, Siemens Energy, Inc., Amentum Technology Inc., Kiewit, and Centrus, whether due to unforeseen circumstances such as supplier insolvency and regulatory changes or other circumstances, pose significant risks to our supply chain.Risk factors (Item 1A)

Amentum Technology Inc.

depends onnamed as a risk

Kiewit Nuclear Solutions Co.

depends on

Working with Kiewit Nuclear Solutions Co. ("Kiewit"), who was selected as the lead constructor for our first Aurora powerhouse in Idaho, a major milestone toward project delivery and execution.Business (Item 1)

Partners and platforms

Los Alamos National Laboratory

depends on

In December 2025, we completed a fast-spectrum plutonium criticality experiment in collaboration with Los Alamos National Laboratory under the DOE’s reactor pilot program ("RPP").Business (Item 1)

Also named by CDRE

Argonne National Laboratory

depends on

In addition, we successfully completed the first end-to-end demonstration of the key stages of our advanced fuel recycling process, in collaboration with Argonne and INL.Business (Item 1)

Other companies

Atomic Alchemy Inc.

approximately $27.4 million of stock considerationnamed as a risk

Acquisitions, divestitures, or joint ventures, including our acquisition of Atomic Alchemy, may fail to achieve their intended results, and their activities may disrupt or have a negative impact on the Company’s business or to our financial condition and operating results.Risk factors (Item 1A)

Places

Idaho National Laboratory (INL)

operates in · five metric tons of HALEUnamed as a risk

Notably, we secured a site use permit from the U.S. Department of Energy (“DOE”) for the Idaho National Laboratory (“INL”) site and received a fuel award of five metric tons of HALEU produced from recovered uranium from previously irradiated EBR-II fuel from INL for a commercial Aurora powerhouse in Idaho.Business (Item 1)

Oak Ridge, Tennessee

operates in · up to $1.68 billion in investment

The facility, which includes a roadmap of up to $1.68 billion in investment, will be the first of its kind in the U.S. and we estimate that it has the potential to create more than 800 high-quality jobs.Business (Item 1)

Also named by LEU

Pike County, Ohio

operates in · 1.2 gigawatt

In December 2025, we purchased land in southern Ohio that we have announced we intend to use to support Aurora powerhouses, including support of a planned 1.2 gigawatt power campus in Pike County, Ohio in connection with a prepayment agreement with Meta Platforms, Inc. (as further described under —Recent Developments—Prepayment Agreement).Business (Item 1)

Yucca Mountain, Nevada

named as a risk

The DOE has since failed to pursue the licensing of Yucca Mountain.Risk factors (Item 1A)

Hazards

U.S. federal government shutdown

named as a risk

The U.S. federal government shut down between October 1, 2025 and November 12, 2025, during which time certain regulatory agencies furloughed non-essential federal employees.Risk factors (Item 1A)

Also named by HII, LUV, UAL

Commodities and inputs

Steel

exposed to its pricenamed as a risk

Our cost projections and timelines are heavily dependent upon fuel, raw materials (such as steel), equipment, and technical and construction service providers (such as engineering, procurement, and construction firms).Business (Item 1)

Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more

Natural gas

exposed to its pricenamed as a risk

Decreases in energy prices or increases in nuclear energy costs, including fuel costs and asset deployment costs, relative to other forms of energy may adversely affect our business, results of operations, and financial condition.Risk factors (Item 1A)

Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more

High-assay low-enriched uranium (HALEU)

depends onnamed as a risk

If we are unable to access HALEU, plutonium-based fuels, or recycled used nuclear fuel, our ability to manufacture fuel and to produce power will be adversely affected, which could have a material adverse effect on our business, results of operations, and financial condition.Risk factors (Item 1A)

Plutonium

depends onnamed as a risk

Plutonium-based fuel supply originates from U.S. government reserves of plutonium declared excess to defense needs, and the use of plutonium-based fuels may be subject to increased fuel certifications, regulatory uncertainty, cost recovery requirements, secure transportation requirements, and security and proliferation concerns.Risk factors (Item 1A)

Uranium enrichment services

exposed to its pricenamed as a risk

These circumstances have impacted the commercial availability of HALEU, increased the cost of uranium enrichment services to produce HALEU, and could potentially increase the adverse impact on the price of enrichment services and on our future operations.Risk factors (Item 1A)

Regulators

Nuclear Regulatory Commission (NRC)

subject tonamed as a risk

It is uncertain when, if at all, we will obtain NRC approvals for the design, construction, and operation of any of our powerhouses.Business (Item 1)

Also named by AEE, AEP, BRK/B, BWXT, CAH, CDRE, CEG, CW and 20 more

U.S. Department of Energy (DOE)

subject tonamed as a risk

Changes in leadership and vision for INL could result in the DOE deprioritizing siting the Aurora powerhouse, resulting in significant time delays for deployment.Risk factors (Item 1A)

Also named by AAON, AMRC, AOS, BWXT, CDE, CDRE, CEG, CLF and 16 more

Laws and programs

DOE Reactor Pilot Program (RPP)

subject to · three of the eleven projects

Alongside ongoing NRC progress, on August 13, 2025, Oklo and Atomic Alchemy were selected by the DOE for three of the eleven projects awarded under the newly established RPP.Business (Item 1)

U.S. tariffs

subject tonamed as a risk

The imposition of new or increased tariffs, trade restrictions, or other changes in trade policy by the U.S. or other countries could increase our costs of materials and components, require us to find alternative suppliers, or force adjustments to our pricing structure.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

Russia sanctions

subject tonamed as a risk

Now that there are sanctions on Russian companies supplying HALEU, sourcing HALEU presents a supply chain risk.Risk factors (Item 1A)

Also named by ACN, AIR, BAM, BF/B, CW, DASH, DIS, GIS and 5 more

Price-Anderson Act

subject tonamed as a risk

The Price‑Anderson Act and its implementing NRC regulations channel legal liability to certain licensees (such as operators of nuclear reactors) for third‑party offsite damages caused by a nuclear incident or a precautionary evacuation due to a possible or actual nuclear incident, and requires these licensees to maintain robust coverage that would protect against any such liability.Risk factors (Item 1A)

Also named by BWXT, CDRE, CEG, CW, DUK, ETR, FLR, J and 5 more

Nuclear Waste Policy Act of 1982

subject tonamed as a risk

Specifically, the Nuclear Waste Policy Act of 1982 requires the DOE to provide for the permanent disposal of certain forms of used nuclear fuel.Risk factors (Item 1A)

Also named by PNW, TLN

Bayh-Dole Act (35 U.S.C. § 204)

subject tonamed as a risk

Failure to abide by the U.S. competitiveness requirements for domestic manufacture of certain subject inventions may also cause us to forfeit and assign all rights to certain inventions to the DOE.Risk factors (Item 1A)

Also named by MRNA

Atomic Energy Act of 1954

subject tonamed as a risk

These hearing processes may delay or prevent the issuance of required regulatory approvals (i.e., permits or licenses) for our powerhouses, fuel fabrication facilities, and fuel recycling facilities.Risk factors (Item 1A)

DOE Fuel Line Pilot Program (FLPP)

subject to

Our Aurora Fuel Fabrication Facility was also selected under the DOE Fuel Line Pilot Program ("FLPP").Business (Item 1)

ADVANCE Act

subject to

As an example, the ADVANCE Act, which was signed into law on July 9, 2024 with significant bipartisan support, streamlines licensing, reduces costs, and boosts U.S. leadership in advanced nuclear energy by modernizing regulations, supporting fuel innovation, and expanding global competitiveness.Business (Item 1)