Oklo Inc.'s stock plummeted 5.10% during intraday trading on Thursday following the company's announcement of a significant equity offering.

The decline comes after Oklo unveiled plans for an "at the market" stock offering of up to $1 billion, with several major investment banks including Goldman Sachs, Bank of America, Citigroup, and J.P. Morgan acting as sales agents. The company stated it intends to use the net proceeds from any sales for general corporate purposes, working capital, capital expenditures, and potential future investments.

Such equity offerings typically create downward pressure on stock prices as they increase the supply of shares available in the market, potentially diluting the ownership stakes of existing shareholders.