Oklo CEO Jacob DeWitte discussed the deal on CNBC on 12 November. Oklo and Centrus Energy said that day they had signed multiple definitive, multi-year contracts for high-assay low-enriched uranium (HALEU), “enough HALEU to support up to five Aurora powerhouses for multiple years”, with deliveries from Centrus’ plant in Pike County, Ohio, “scheduled to begin in 2029”.
Meta pays for it indirectly. The joint release says the purchase is “supported by Meta’s prepayment for future Oklo power production” and secures fuel for the first phase of Oklo’s planned 1.2 GW campus in Ohio. Neither company gave a price or a quantity in tonnes.
Business Pill · Grid Cost Allocation
A short explainer on who pays for new power infrastructure. It teaches the general idea and does not discuss Oklo or Centrus.
The key insight: As we read the filings, Meta is now paying for nuclear supply two steps upstream of the power it buys: its prepayment to Oklo funds Oklo’s prepayment to Centrus for enrichment.
The contracts formalize a June 2026 letter of intent. Under the agreements, the release says, Oklo will make prepayments for future deliveries to support construction of new U.S. enrichment capacity at Centrus. The fuel covers the first phase of the Ohio campus, future Aurora projects and later refueling of the Aurora-INL, Oklo’s first reactor in Idaho.
Oklo’s quarterly report, filed 6 November, adds two earlier steps. It signed a HALEU supply agreement with Centrus on 30 September, “subject to certain conditions”. An initial Meta funding amount released from escrow on 2 November and “paid directly to Centrus as a credit towards fuel orders”.
DeWitte said in the release: “Securing fuel is essential to scaling our power business beyond our first reactor in Idaho”. Centrus CEO Amir Vexler said Oklo’s prepayments “will help fund our build out”. Centrus says it has now secured $5.4 billion in customer contracts and commitments for LEU and HALEU from the new capacity.
Megawatts electric: five Aurora powerhouses at the top of Oklo’s initial 15-75 MWe range against the planned 1.2 GW Meta campus in Ohio. 375 MW and 31% are our arithmetic and an upper bound.
What Five Reactors Cover
Oklo’s 10-Q says initial Aurora designs “target electrical outputs ranging from 15 to 75 megawatts electric”. Five powerhouses at the top of that range would be 375 MWe, at most 31% of the 1.2 GW Meta campus, by our arithmetic. At the bottom of the range, five would be 75 MWe, about 6%.
The release ties the fuel to the campus’s first phase, not the full 1.2 GW. Oklo’s 10-Q says it is in discussions with “additional potential suppliers of HALEU”. It held $3,130.8 million in cash, cash equivalents and marketable debt securities at 30 September.
Where It Sits in AI Power
Oklo’s 10-Q lists a 12 GW Master Power Agreement with Switch from December 2024 and names Meta, Equinix, Diamondback Energy, Prometheus Hyperscale and Switch as prospective customers. Meta signed its prepayment agreement with Oklo on 5 January 2026, part of the 6.6 GW of nuclear contracts we covered in January.
As we read the 10-Q and the release together, the money moved before the contract: Meta funds reached Centrus on 2 November as a credit towards fuel orders, ten days before the definitive agreements were announced.
As we read the sizes Oklo gives, the fuel covers a first phase of the Ohio campus, between 6% and 31% of its 1.2 GW depending on powerhouse size, by our arithmetic.
Jacob DeWitte, Oklo CEO, joint release, 12 November 2026
“Securing fuel is essential to scaling our power business beyond our first reactor in Idaho”
Three Implications
FOR META Its prepayment for future power is now funding fuel enrichment, according to the release.
FOR CENTRUS It says customer contracts and commitments from the new capacity total $5.4 billion.
FOR OUR COVERAGE We will report contract values or HALEU quantities if either company discloses them.
The framework says: “Companies that solve the power equation will dominate the AI era; those that don’t will watch their chips sit idle.”
As we read it, Meta’s route through Oklo to Centrus extends that power equation to the fuel supply. The framework does not discuss Oklo or Centrus.
What Is Not Established
Neither company disclosed the contract value, the size of Oklo’s prepayments, the HALEU quantity or the size of the Ohio powerhouses. The CNBC interview was not readable to us, so we quote DeWitte only from the release. The release’s forward-looking statements name obtaining HALEU and regulatory approvals among Oklo’s risks.
This Week In The AI Supercycle
The Great Convergence of Capital, Power, and Geopolitics
This week’s issue: for two years the AI build-out was priced as a supply story, and last week as a credit story. This week it was priced as a permission story, and the answer arrived as a cost, not a ban.
Oklo signed definitive contracts with Centrus for HALEU to fuel up to five Aurora powerhouses, deliveries from 2029, funded through Meta’s prepayment for future power. At the top of Oklo’s initial 15-75 MWe range, that is at most 375 MWe, or 31% of the planned 1.2 GW Meta campus.
A note on sourcing. Deal terms come from the Oklo and Centrus joint release filed as Exhibit 99.1 to Centrus’ 8-K of 12 November 2026; Aurora sizes, cash and earlier agreements from Oklo’s 10-Q for the quarter ended 30 September 2026. Megawatt and percentage comparisons are our arithmetic.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
