The Setup
On February 24, 2026, Pete Hegseth called Anthropic into the Pentagon and gave them an ultimatum: strip your AI's safety guardrails or lose your Defense Department contract. Two days later, Anthropic was formally declared a national security supply chain risk. Within 24 hours of that designation, Sam Altman's OpenAI announced a classified Pentagon AI network deal.
That was the opening move. What came next was more systematic — and more lucrative.
Over the following 91 days, Altman's network captured not just the Pentagon's AI infrastructure, but the physical fuel supply that would power the data centers running that AI. The mechanism was Oklo Inc., a nuclear startup with zero commercial revenue, a board that included a man about to become Secretary of Energy, and founders who had already pre-positioned to sell hundreds of millions of dollars of stock before any of it became public.
The Triangle
Three vertices. Three players. One network.
Vertex One — AI Compute Demand: OpenAI (Altman). After Anthropic was eliminated from Pentagon contracts, OpenAI secured classified IL6/IL7 AI network access on February 27, 2026. By May 1, the full list was public: OpenAI, NVIDIA, Oracle, Microsoft, Amazon, SpaceX, Google. Anthropic: absent.
Vertex Two — Nuclear Power Supply: Oklo (Altman, DeWitte). While the Pentagon deal was being finalized, Oklo was accumulating the most valuable commodity in the new AI infrastructure economy: the right to convert 20 tons of dismantled American warhead plutonium into commercial reactor fuel. The company that would power the AI factories that just captured the Pentagon.
Vertex Three — The Bridge: NVIDIA (Huang). On December 3, 2025, Jensen Huang told Joe Rogan that energy was "the bottleneck" for AI and predicted small nuclear reactors near every data center within seven years. Oklo surged 24% that day. Five months later, NVIDIA, Oklo, and Los Alamos National Laboratory announced a three-way partnership for what they explicitly called "Nuclear-Powered AI Factories." NVIDIA sits at both vertices simultaneously: compute (Pentagon IL6/IL7) and nuclear fuel validation (Oklo+LANL).
The full sequence, compressed into 91 days:
Vertex one to vertex two: 91 days. Zero revenue company. Warhead plutonium. The founders sold the whole way up.
The Revolving Door
The revolving door here is not metaphorical. It is a single man — Chris Wright — whose board membership became a Secretary confirmation became a contract approval pipeline. Senator Markey named it. Wright did not respond. Oklo's lobbying spend tells the story: 500% increase in the first three months Wright controlled the department that would decide Oklo's fate.
The Trading Record
Oklo's founders and CFO adopted their exit plans on March 31, 2025 — the same day, both CEO and COO, identical plan structure. That date is 23 days before Altman resigned from the board, 53 days before Trump's executive orders mandated DOE accelerate advanced reactor deployment for AI, and eight months before any of the major contract announcements. They were pre-positioned before every catalytic event.
What followed was a systematic sell-into-every-spike pattern across every major announcement:
| Date | Insider | Shares | Price | Proceeds | Catalyst / Context |
|---|---|---|---|---|---|
| Jan 5, 2026 | DeWitte (CEO) | 100,000 | $90.29 | $9.03M | 2 days before Jan 7 DOE OTA signing |
| Jan 9, 2026 | Cochran (COO) | 91,628 | $111–113 | $10.25M ⚑ | Same day Meta + Oklo 1.2 GW nuclear deal announced → OKLO +20% premarket |
| Dec 22, 2025 | DeWitte (GRAT) | 840,000 | $80–86 | $69.15M | 19 days after Jensen Huang Rogan nuclear statement → OKLO +24% |
| Apr 1, 2026 | DeWitte + Cochran | 200K each | ~$50 | ~$20M | 22 days before NVIDIA/LANL partnership announcement |
| May 1, 2026 | DeWitte | 200,000 | $69–71 | $14.0M | Into NVIDIA/LANL-elevated pricing; Pentagon IL6/IL7 list confirmed same day |
| Jun 1, 2026 | DeWitte + Cochran | 200K each | $65–70 | ~$27.4M | 5 days after DOE plutonium program selection |
| Jun 1, 2026 | Bealmear (CFO) | 73,081 | $65–70 | ~$5.0M | Options exercise + sell under Sep 22 2025 plan |
On January 9, 2026, Oklo COO Caroline Cochran sold 91,628 shares at $111–113 per share through GRAT structures, collecting $10.25 million. That same morning, Oklo announced a 1.2 gigawatt nuclear power agreement with Meta Platforms — the largest confirmed corporate nuclear deal in Oklo's history. The stock surged 20% in premarket trading. Even under a 10b5-1 plan, same-day execution raises fundamental questions: when was the trade instruction triggered, and did the plan's integrity hold given that Cochran, as COO, would have had direct knowledge of the Meta deal before announcement? 10b5-1 plans can be paused. The plan's legal protection depends entirely on when the sell order was electronically triggered relative to when Cochran first received material non-public information about the Meta agreement.
The Pre-Position Pattern
The trading pattern in OKLO shares is amplified by a consistent sequencing in the underlying contracts: national laboratory technical milestones telegraph formal DOE contract awards by approximately three to five weeks.
In each case, a national laboratory event publicly signals — to anyone watching SEC filings, press releases, and lab announcements simultaneously — that a formal DOE contract award is imminent. The insiders who adopted their sell plans on March 31, 2025 did not need to predict the future. They just had to read the sequence.
The NVIDIA Connection
NVIDIA's position in this story is not incidental. The company is the structural bridge between the two sides of the triangle.
On December 3, 2025, Jensen Huang told Joe Rogan that nuclear power was the future of AI data centers. That statement moved Oklo's stock 24% in a single day. It was not a policy statement. It was a market signal. Five months later, NVIDIA formalized that signal into a three-way partnership with Oklo and Los Alamos National Laboratory to validate plutonium fuel using NVIDIA's AI infrastructure — while simultaneously appearing on the Pentagon's IL6/IL7 AI contract list alongside OpenAI.
The company that supplies the GPUs for the AI data centers is also the company validating the nuclear fuel that will power those data centers. NVIDIA is not adjacent to this story. NVIDIA is this story.
"Energy is the bottleneck."
— Jensen Huang, Joe Rogan Experience, December 3, 2025
On that day, Oklo surged 24%. On December 22, 2025 — nineteen days later — DeWitte's GRAT structures sold 840,000 shares at $80–86 per share. Proceeds: $69.15 million. The largest single insider transaction in the dataset.
The Customers Already in the Room
Oklo's FY2025 10-K names its confirmed customers and power agreement counterparties: Meta Platforms, Switch, Equinix, Prometheus Hyperscale, Diamondback Energy, Eielson Air Force Base. That list covers 13+ gigawatts of committed capacity from a company that has not yet generated a dollar of commercial revenue.
One name is conspicuously absent: OpenAI.
Sam Altman resigned as Oklo's board chairman on April 22, 2025, specifically to remove the conflict of interest that would arise from OpenAI negotiating a power supply agreement with a company Altman chaired. Citi analysts noted the resignation made an "OpenAI-Oklo energy deal more likely." Fourteen months later, OpenAI does not appear in Oklo's 10-K. The negotiations are ongoing. The disclosure requirement has not yet been triggered.
When it is triggered — when OpenAI formally becomes an Oklo customer — the circle will close completely. The man who was chairman of the company that powers the AI factories will have sold hundreds of millions in stock, collected the Pentagon's AI contract network, and transferred 20 tons of warhead plutonium into commercial energy. Zero revenue. Full capture.
What the Evidence Shows
The Open Questions
The House Oversight Committee launched an investigation into Kalshi and Polymarket insider trading on May 22, 2026. The deadline for records production is today. The probe focuses on government employees trading on classified information. No nuclear, DOE, or energy-related accounts have been publicly named in the probe yet.
But the structural conditions are identical to every case that has been charged: a small circle of people with advance knowledge of government decisions, a mechanism to translate that knowledge into profit before the market knows, and a regulator who was recently inside the company he now oversees.
Senator Markey asked Chris Wright to explain his role in the plutonium transfer decision. That was September 23, 2025. The deadline was September 30. Wright has not responded publicly.
The plutonium from America's dismantled nuclear arsenal is being transferred to a private company. The Secretary of Energy who approved that transfer just left the company's board. The company's CEO sits on the President's science council. The company's founders have sold $189 million in stock with the company reporting zero commercial revenue.
The 91-day triangle is closed. The question is whether anyone with enforcement authority will look at it.
This is a developing investigation.
All trade data from SEC EDGAR Form 4 filings.
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