Nuclear energy company Oklo's shares have dropped 44% in 2026. The company has secured a non-binding agreement with data center operator Switch to deploy up to 12 GW of nuclear power through 2044, and an agreement with Meta Platforms to develop a 1.2 GW nuclear power campus in Ohio for its AI data centers. Oklo reported a loss of approximately $48.5 million in the second quarter of 2026, up from $33 million in the first quarter. The company's market capitalization is $8 billion, with trailing 12-month revenue of $1.2 million, primarily from acquired businesses, with no reactor revenue to date. Analysts project annual revenue of about $55 million two fiscal years from now, against a current trailing loss of $153 million. Oklo also faces challenges in securing high-assay low-enriched uranium (HALEU) fuel, which is critical for scaling its reactors.