Altman exits Oklo board as AI energy race heats up

Sam Altman has stepped down as chair of nuclear start-up Oklo, citing a potential conflict of interest ahead of talks with OpenAI over a future energy supply deal. The move comes as the pressure mounts to power artificial intelligence with stable, low-carbon energy sources.

Altman, who invested early in Oklo and joined as chair in 2015, will be replaced by Jacob DeWitte, the company’s CEO and co-founder.

The timing is critical. While Oklo has yet to sign any binding agreements or secure regulatory approval for its reactor designs, the need for energy partnerships is rising fast. OpenAI’s soaring power demands—and the rise of lighter Chinese rivals like DeepSeek—have pushed western tech firms to secure cleaner, heavier infrastructure.

Altman said the decision was necessary as Oklo explores strategic partnerships to scale nuclear power for AI development.

“Fission is an essential solution for meeting the growing energy demands of artificial intelligence,” he said.

OpenAI’s ambitions are expansive. The company is launching Stargate, a $500bn project with SoftBank to build vast data centres. Nuclear developers like Oklo, X-energy, and Newcleo have already raised $1.5bn since early 2024. Major tech and energy players—Amazon, Microsoft, Rolls-Royce—have joined the push.

Small modular reactors, or SMRs, produce up to 300 megawatts—roughly a third of traditional plants. Their promise: scalable, low-emission energy for high-compute futures.

Oklo has signed preliminary supply deals, including a 12GW agreement with data centre operator Switch. But analysts say what it needs now is a firm power purchase agreement.

“They can put financing in place if they’ve got a PPA,” said TD Cowen’s Marc Bianchi. “That’s what helps fund the investment.”

Altman’s overlapping business interests had drawn scrutiny before. His role in Helion, a nuclear fusion firm, and his 2023 ouster-turned-reinstatement at OpenAI, prompted a policy review. The company has since pledged tighter conflict-of-interest controls.

Oklo’s share price has dropped 61 per cent since peaking in February 2025. Whether this exit clears the way for a power deal—or delays it further—remains to be seen.

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