Despite an increasing investor interest in AI power infrastructure, Oklo (OKLO) stock has been experiencing a downtrend that doesn’t seem to stop. One reason for this is the heavy discount to future cash flows that the market seems to be giving energy stocks like Oklo. As high as the demand is for power, the fact remains that Oklo will be unable to deliver a single watt of power before 2027.
Once the initial hype subsided, the market started rewarding players who had already started shipping products to the market. Take Bloom Energy (BE), for instance. The stock is up nearly 1,300% in a year, having doubled in the last month alone. The reasoning is simple: Market participants are rewarding companies that are solving the AI power problem today, rather than attempting to do it in the future.
