OKLO
Oklo Inc.
Is OKLO Halal?
Advanced nuclear fission power — clean-energy infrastructure is a permissible activity, and the company carries little interest-bearing debt.
What You Should Know
Oklo Inc. is developing advanced fission power plants and nuclear-fuel recycling. Its March 31, 2026 Form 10-Q reports $2,703.509 million of assets, no reported interest-bearing debt, $1,594.103 million of cash, $942.795 million of available-for-sale debt securities and $11.379 million of receivables. Oklo reported no operating revenue for the quarter because it remains pre-revenue; liquidity/assets is 93.84% and receivables-plus-cash/assets is 59.39%, so the examined asset-based financial screens fail despite a permissible clean-energy activity.
⚠️ Concerns
- •Oklo is pre-revenue; no operating-revenue denominator exists for an interest-income ratio, so that ratio is not fabricated
- •Liquidity/assets is 93.84% and receivables-plus-cash/assets is 59.39%, above the examined asset-based limits because of its Treasury and commercial-paper portfolio
- •The filing reports $21.339 million of investment income; purification treatment remains scholar-dependent and cannot be expressed as a revenue percentage while revenue is zero
- •Any future shift toward interest-bearing project debt to fund plant construction should be monitored
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
0 / 2,703.509
2,536.898 / 2,703.509
1,605.482 / 2,703.509
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 93.84%, above the 33.33% limit, and receivables-plus-cash/assets is 59.39%, above the 50% limit; no operating-revenue denominator exists for the income test.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 93.84% and receivables-plus-cash/assets is 59.39%, above the examined MSCI total-assets limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 93.84%, above the examined Malaysia limit; no operating-revenue denominator exists for an income test. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the total-assets screen already fails on liquidity and receivables-plus-cash.
Business-activity disclosure
Oklo is developing advanced fission powerhouses and nuclear-fuel recycling. Clean-energy generation is generally permissible, but Oklo remains pre-revenue and the filing does not provide a universal prohibited-activity numerator across future projects, counterparties or end uses.
Limitation: No operating revenue was reported for the quarter, so an interest-income-to-revenue ratio cannot be calculated without inventing a denominator; future commercial activity remains qualitative.
Purification
Oklo reports investment income while pre-revenue; no revenue-based purification percentage can be calculated and ZakatInvest does not prescribe a scholar-approved percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Oklo's March 31, 2026 Form 10-Q.
- The filing does not report interest-bearing debt; convertible or project debt should be added when issued.
- Cash and cash equivalents are $1,594.103 million and available-for-sale debt securities are $942.795 million, consisting primarily of Treasury securities and commercial paper.
- Interest receivable of $9.710 million plus other receivables of $1.669 million are included; the filing reports no operating revenue for the quarter because Oklo remains pre-revenue.
- The filing reports $21.339 million of investment income and $0.138 million of investment interest/accretion, but no operating-revenue denominator exists, so the income ratio is unavailable rather than fabricated.
- Advanced nuclear power and fuel recycling are generally permissible, while project counterparties, licensing and future end uses remain qualitative.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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