Oklo is worth $20 billion. An analyst just upped their price target from $80 to $150. The company has produced no revenue yet.

Oklo is the 449th-largest stock in the US coming into this week, boasting a market cap above that of Dick’s Sporting Goods, Dollar Tree, or Halliburton.

It also happens to have generated zero sales, making it the largest pre-revenue stock listed on US exchanges, per an equity screen run on Bloomberg.

Oklo is in the nuclear power business, and has positioned itself as a potential power provider to help facilitate the AI boom.

It has a market cap of about $20 billion on no revenue, beating the next-largest zero-revenue stock (Summit Therapeutics, with a $14 billion market cap).

Wedbush Securities analyst Dan Ives boosted his price target on the stock to a whopping $150 from $80 on Sunday, citing “incremental confidence in the company’s nuclear growth strategy as the AI Revolution hits its next stride of growth.” It’s also on his Ives AI 30 list of stocks that, in his view, offer the most exposure to the AI boom.

Yesterday, Oklo announced that it held a groundbreaking ceremony for its Idaho-based “first Aurora powerhouse,” which was attended by EPA Administrator Lee Zeldin, Governors Bradley Little (Idaho) and Spencer Cox (Utah), US Senators Mike Crapo and James Risch, Congressman Mike Simpson, Nuclear Regulatory Commission chief Bradley Crowell, and the Department of Energy’s Michael Goff and Robert Boston, to name a few.

The Takeaway

“Given the recent focus on nuclear energy following the Trump Administration Executive Order we view this as ‘just the start’ of the nuclear focus for energy in the US over the coming year with OKLO leading the sector,” Ives added. “Our time spent in the Beltway last week with meetings on the Hill gave us incremental confidence that the push for nuclear energy in the US is now underway and positions OKLO very well for this wave of spending/growth/regulatory approval.”