Wedbush Securities initiated coverage on Thursday of Oklo — the nuclear power startup backed by OpenAI head Sam Altman — with an outperform rating. The new rating comes a day after the company announced an agreement to provide as much as 12 gigawatts of energy to Switch,

Among the hurdles, Oklo still hasn’t received approval from the Nuclear Regulatory Commission after having its previous application denied.

Oklo, a nuclear energy start-up chaired by Open AI’s Sam Altman, has struck a major corporate power supply deal as the industry rushes to meet the surging needs of artificial intelligence.

Switch, a US-based provider of AI, cloud and enterprise data centres, has selected nuclear technology company Oklo to deploy 12GW of Oklo Aurora powerhouse projects by 2044. The projects will be deployed as part of a non-binding master power agreement,

Oklo to develop a fleet of small reactors. The deal could see Oklo building and deploying a fleet of small nuclear reactors to power Switch’s data center campuses across the US

The startup chaired by ChatGPT founder Sam Altman plans to provide 12 gigawatts of power from small modular reactors.