Sam Altman-Backed Nuclear Developer to Go Public With SPAC (1)

Oklo Inc., a developer of advanced nuclear systems backed by Sam Altman, plans to go public through a merger with his special-purpose acquisition company AltC Acquisition Corp.

The company would go public by combining with AltC Acquisition, a SPAC co-founded by Altman, the Chief Executive Officer of OpenAI, and former Citigroup banker Michael Klein, according to a release Tuesday. The transaction values California-based Oklo at about $850 million.

The deal comes as the small-scale nuclear industry gains momentum in the global shift toward cleaner sources of energy. Oklo and other companies are developing systems that can be manufactured ...