Centrus Energy Signs LOI with Oklo, Stock Surges Over 12% in a Single Day
Alina Collins
Centrus Energy signed a letter of intent with SMR developer Oklo to supply HALEU fuel for up to five Ohio reactors starting in 2029 — the stock surged over 12% as the market reprices scarce domestic advanced-nuclear fuel capacity.
What exactly was signed?
Centrus will supply HALEU — high-assay low-enriched uranium, a fuel designed specifically for next-generation small modular reactors — to up to five Oklo Aurora plants in Ohio, with deliveries starting in 2029 across multiple years.
What was signed is a letter of intent, not a binding supply contract. This means → the two companies have locked in a framework, but final volume, pricing, and delivery terms still need negotiation.
In plain terms = this is an engagement announcement, not a marriage certificate — direction confirmed, details still unsigned.
Why is Meta behind this?
The downstream power buyer is Meta Platforms, which is working with Oklo to build Aurora reactors in Ohio to power its AI data centers.
This means → the deal sits at the intersection of two market narratives: AI infrastructure expansion demands massive stable power, and advanced nuclear commercialization offers a low-carbon path to deliver it.
The supply chain links up neatly: Centrus produces fuel → Oklo builds reactors → Meta consumes the electricity for AI — three companies, each owning one link.
Why did the stock jump 12%?
The core logic is a scarcity premium: Centrus is one of the few U.S. companies capable of producing HALEU, and both companies called domestic HALEU supply "one of the key constraints facing the advanced nuclear sector."
In plain terms = almost no one in America can manufacture this fuel at scale. Whoever can produce it holds pricing power. The market is betting Centrus can convert that scarce position into sustained long-term contract revenue.
But the proof point hasn't arrived yet: whether the LOI converts to a binding contract, and whether 2029 production capacity materializes on schedule, remain open questions.
Content is for reference only, not financial advice.