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Jacob DeWitte, the Co-Founder and CEO of Oklo Inc. (NASDAQ:OKLO), has sold a significant amount of company stock, according to a recent SEC filing. The timing is notable as the stock has declined 25% in the past week, with InvestingPro data showing technically oversold conditions. DeWitte disposed of shares totaling approximately $4.98 million over several transactions between March 27 and March 31, 2025. The sales were executed at prices ranging from $21.80 to $26.00 per share, in a company currently valued at $3.11 billion.
The transactions included multiple sales of Class A Common Stock. On March 27, DeWitte sold 20,730 shares at an average price of $24.54 and 14,635 shares at an average price of $26.00. The following day, he sold 104,404 shares at an average price of $22.64 and 35,231 shares at an average price of $23.58. On March 31, DeWitte sold an additional 41,000 shares at an average price of $21.80. These transactions occurred amid high price volatility, though the stock has shown remarkable strength with a 151% gain over the past six months.
These transactions have reduced DeWitte’s direct holdings in Oklo Inc. to 10,482,926 shares. Additionally, there were stock transfers involving 100,000 shares to family trusts, which were recorded as having no monetary value. According to InvestingPro’s Fair Value analysis, the stock appears overvalued at current levels. Discover 15+ additional exclusive insights and comprehensive analysis available in the Pro Research Report.
In other recent news, Oklo Inc reported its fourth-quarter 2024 earnings, revealing a minor miss in expected earnings per share (EPS) with an actual EPS of -0.07 compared to the forecast of -0.0665. The company’s operating loss for the full year was $52.8 million, highlighting ongoing financial challenges. Despite this, Oklo has made strides in product development, notably expanding its Powerhouse reactor design to 75 megawatts. Citi analyst Vikram Bagri adjusted the price target for Oklo shares to $30 from $31, maintaining a Neutral rating, and noted a "Modestly Negative" outlook due to increased capital expenditure requirements. Herb Greenberg, a financial analyst, added Oklo to the Red Flag Focus List, citing skepticism about the company’s valuation and future prospects, particularly due to the absence of revenue and cash flow. Oklo’s project pipeline stands at 14.1GW, bolstered by a significant 12GW agreement with Switch (NYSE:SWCH). The company is preparing for a pre-application readiness assessment with the Nuclear Regulatory Commission, with the formal application expected in the fourth quarter of 2025. Additionally, Oklo completed the acquisition of Atomic Alchemy, marking its entry into the radioisotope market, with potential revenue generation anticipated from early 2026.
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