Oklo Initiated at Buy on Transformational 1.2 GW Meta Power Deal Enhancing Visibility, Credibility, and De-Risking Execution

In a report released today, Sean Milligan from Needham maintained a Buy rating on Oklo Inc, with a price target of $135.00.

Sean Milligan has given his Buy rating due to a combination of factors tied to Oklo’s landmark 1.2 GW agreement with Meta, which he views as a major commercial breakthrough. This long‑term deal with a top-tier hyperscaler provides Oklo with its first large, concrete revenue opportunity and materially enhances the company’s visibility into its future project pipeline. By having Meta prepay for power and shoulder early-stage development costs, Oklo’s upfront capital burden and execution risk on this flagship project are meaningfully reduced.

Milligan also emphasizes that being chosen alongside established nuclear partners like Vistra and TerraPower elevates Oklo’s credibility within both the energy and hyperscaler ecosystems. The scale and duration of Meta’s nuclear commitments position the company as a leading corporate buyer of nuclear power in the U.S., indirectly signaling confidence in Oklo’s technology and business model. While he acknowledges ongoing execution risks given Oklo’s pre-revenue status and long project timelines, Milligan believes the strategic significance, financial structure, and validation embedded in the Meta agreement collectively justify a Buy rating on the shares.