May 10, 04:30 PM

Sam Altman's Oklo Goes Public, Shares Drop 26% on NYSE Debut

Sam Altman, known for his role at OpenAI, has taken a new direction by becoming the chairman of Oklo, a nuclear energy startup. Oklo, which focuses on advanced nuclear fission, went public on the New York Stock Exchange under the ticker symbol 'OKLO'. The public offering was facilitated through a Special Purpose Acquisition Corporation (SPAC) named AltC. On its first day of trading, Oklo's shares fell by 26%, closing at $13.54 per share, which valued the company at approximately $600 million. The company was set to receive over $306 million in gross proceeds from the transaction.