A nuclear energy firm is going public through the special purpose acquisition company run by ChatGPT’s CEO Sam Altman. Sam Altman and Churchill Capital, who co-founded AltC Acquisition Corp., will merge with the firm Oklo. Altman has been chairman of Oklo since 2015 and has long been a leading investor in the company.
“Obviously AI requires lots of energy, but energy is needed for many other things that we do in this world of atoms,” stated Altman on a conference call with investors on Tuesday. “So for a very long time, my attention has been on finding new sources of energy, primarily nuclear energy. And that is what initially brought me to Oklo.”
“The structure of cheap, accessible, clean energy and cheap, accessible, powerful intellect – if those change, the economy can actually shift too. And I think the future for people might be extremely spectacular,” he continued.
The advanced nuclear fission business will construct facilities and sell electricity under long-term contracts in order to generate ongoing income. Data centers, factories, and industrial sites are a few examples of its clients.
The business claims to have secured three locations, two in southeast Ohio and one in Idaho, where a commercial-scale advanced fission power plant will be operational in 2026 or 2027.
According to Oklo, this technology can run on recycled fuel and requires a lot less area than conventional nuclear reactors. The business also intends to offer services for recycling old nuclear fuel.
During the conference call, co-founder Jake DeWitte remarked, “We’ve been building Oklo for more than a decade, and we have the proper technology. Once the merger is completed in early 2024, Oklo is anticipated to be listed on the New York Stock Exchange under the ticker ‘OKLO.'”