---
title: "Watch Out! OKLO Stock Sinks as Amazon-Backed Rival Blasts Off on Nasdaq Debut"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284059889.md"
description: "Shares of nuclear reactor startup Oklo (OKLO) fell over 7% as X-Energy (XE), backed by Amazon, surged 27% on its Nasdaq debut. X-Energy's IPO raised $1 billion, with shares climbing from an initial price of $23 to $29.20. The company, valued at nearly $12 billion, saw strong investor interest, prompting an increase in its IPO price target. In contrast, Oklo's market cap stood at $13.27 billion at the close of trading on Friday."
datetime: "2026-04-24T22:39:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284059889.md)
  - [en](https://longbridge.com/en/news/284059889.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284059889.md)
---

# Watch Out! OKLO Stock Sinks as Amazon-Backed Rival Blasts Off on Nasdaq Debut

Shares in nuclear reactor startup Oklo (OKLO) plunged over 7% on Friday as X-Energy (XE), a small modular reactor (SMR) company backed by tech giant Amazon (AMZN), surged by roughly 27% on its trading debut on Nasdaq.

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Investors rushed to grab a stake in X-Energy, pushing the Maryland-based company's share price up from the offer price of $23 to $29.20 and another 2% extra in after-hours trading. X-Energy initially set an initial public offering (IPO) price target of between $16 and $19 but pumped up the target following strong interest.

The company — whose $500 million fundraise in October 2024 was led by Amazon and Ken Griffin, the co-founder and CEO of hedge fund and alternative investment manager Citadel — raised $1 billion from the IPO.

X-Energy also grabbed a market value shy of $12 billion on a fully diluted basis; that is, the valuation obtainable if every option, warrant, restricted stock unit, and convertible share were exercised or converted into stock. For comparison's sake, Oklo, on a non-diluted basis, had a market cap of $13.27 billion as of the close of trading on Friday.

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