business

6/12/25

Oklo seeks $400 million in new share offering after massive stock surge

Nuclear tech company Oklo saw its stock soar as much as 29% on Wednesday, reaching an all-time high. That same day, it announced a proposed public offering to raise up to $400 million in common stock.

Oklo’s stock had fizzed higher on the news that the US Department of Defense intends to award the startup a contract to build a nuclear power plant at an Air Force base in Alaska. Indeed, Okta, whose board was headed by OpenAI CEO Sam Altman until April, has been riding a growing interest in nuclear energy as a way to meet mounting power demands, with the company’s market value tripling this year alone.

Looking forward, the nuclear sector stands to benefit from tech giants building more data centers, industries moving away from carbon-intensive energy sources, and government plans for new reactors continuing to roll in.

Nuclear Startup Oklo to Raise $400 Million in Share Offering

Bloomberg Oklo cover image

Oklo’s stock had fizzed higher on the news that the US Department of Defense intends to award the startup a contract to build a nuclear power plant at an Air Force base in Alaska. Indeed, Okta, whose board was headed by OpenAI CEO Sam Altman until April, has been riding a growing interest in nuclear energy as a way to meet mounting power demands, with the company’s market value tripling this year alone.

Looking forward, the nuclear sector stands to benefit from tech giants building more data centers, industries moving away from carbon-intensive energy sources, and government plans for new reactors continuing to roll in.

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Volkswagen is reportedly closing in on its own, separate tariff deal with the US

In a bid to get its own tariff rate below the 15% applied to most EU exports, Volkswagen is dangling big US investments.

Speaking at a trade show Monday, VW CEO Oliver Blume said the automaker is in advanced talks on a deal to limit its own tariff burden. Volkswagen reported a tariff cost of $1.5 billion in the first half of the year.

Speaking to Bloomberg TV, Blume said the company is in close contact with the Trump administration and has had “good talks” about its separate deal. The current 15% tariff rate on EU vehicles would still “be a burden for Volkswagen,” Blume said.

A company reaching a tariff deal separate from its home country isn’t typical, though there’s already precedent this year, with Apple’s $100 billion US investment deal amid chip tariffs and President Trump’s threats to add a levy to smartphones. Nvidia and AMD similarly struck a deal to receive the ability to sell chips in China and in exchange agreed to give the US 15% of the revenue from those sales.

15% Tariff Would Be ‘A Burden’ on Volkswagen, CEO Says

15% Tariff Would Be ‘A Burden’ on Volkswagen, CEO Says

Speaking to Bloomberg TV, Blume said the company is in close contact with the Trump administration and has had “good talks” about its separate deal. The current 15% tariff rate on EU vehicles would still “be a burden for Volkswagen,” Blume said.

A company reaching a tariff deal separate from its home country isn’t typical, though there’s already precedent this year, with Apple’s $100 billion US investment deal amid chip tariffs and President Trump’s threats to add a levy to smartphones. Nvidia and AMD similarly struck a deal to receive the ability to sell chips in China and in exchange agreed to give the US 15% of the revenue from those sales.

Lululemon sales are being squeezed — but it’s hoping sports sponsorships will save its skin

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