Oklo vs. NuScale Power: Which Utilities Stock Is a Better Buy in 2026?
Both companies burn cash heavily while chasing commercialization, but their business models and risk profiles diverge sharply.
Overview
As the world pivots toward reliable, carbon-free energy, investors are weighing the potential of small modular reactors. The choice between Oklo (NYSE:OKLO) and NuScale Power (NYSE:SMR) could define a generation of nuclear investment.
Oklo aims to build and operate its own fast-fission power plants, focusing on high-demand data centers. NuScale Power develops modular reactor technology intended for global utility deployment and industrial use. While both companies pursue advanced fission, their differing business models and regulatory stages present unique paths for those seeking exposure to the next nuclear wave.
Details
Oklo focuses on a direct owner-operator model, meaning it plans to design, build, and run its own powerhouses under long-term agreements. The company targets high-energy users like data centers and factories, recently securing a prepayment agreement with Meta Platforms (NASDAQ:META) for a significant power campus. Oklo also has agreements with Switch and non-binding letters of intent with Equinix (NASDAQ:EQIX) and Diamondback Energy (NASDAQ:FANG). Customer concentration like this adds a layer of risk to the business, as early success depends on a few major partners.
Source
Originally published at www.fool.com.