$OKLO $SMR I wrote this two months ago, and at the time, no one wanted to hear it. But maybe now is the right moment to revisit it. I’m strongly pro-nuclear and believe in its potential, but the reality for investors is far from promising. The current enthusiasm around SMRs is fueled more by hype than by solid economic fundamentals. The industry faces significant regulatory and financial hurdles that make widespread adoption and profitability a long way off. Investors should be wary of narratives that promise rapid deployment and near-term returns—because, in reality, the path to commercialization is anything but straightforward.