In November, the stock market had a rough month, especially for tech and AI-related stocks. Oklo (NYSE: OKLO) saw its shares decline by as much as 35.4%, ending the month down 31.2%. The S&P 500 and Nasdaq Composite also experienced fluctuations, with the Nasdaq finishing down 1.5%.

Oklo’s stock price has soared due to its small modular reactor (SMR) development for AI data centers. However, Google’s Gemini 3, trained on Google’s TPUs instead of Nvidia or AMD GPUs, poses a threat. TPUs are more energy-efficient, potentially reducing the demand for Oklo’s SMRs and impacting its stock valuation.

Investors have driven Oklo’s stock to extreme highs based on the belief in AI’s energy demand, but with uncertainties surrounding the sector, the stock’s current valuation may not be justified. The Motley Fool analysts recommend considering other investment opportunities over Oklo at this time.

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Read more at Nasdaq.: Oklo Stock Sank 31.2% In November. What’s Next?