Nuclear fission startup Oklo will go public via a merger with a SPAC created by OpenAI CEO Sam Altman. I don’t want to be alarmist, but investors should be very concerned. The last time someone tried to combine nuclear power with artificial intelligence, the investor day didn’t go so well.

The lowdown

• ☢️ Nuclear fission startup Oklo to go public via merger with SPAC founded by OpenAI CEO Sam Altman.

• 🎮 Microsoft may proceed with its acquisition of Activision after US judge rules in its favor.

• ⚓️ Chip designer Arm is in talks to bring Nvidia on board as an anchor investor ahead of IPO.

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Berkshire pushes further into oil and gas

Warren Buffett's Berkshire Hathaway has acquired control of an LNG plant in Maryland for $3.3 billion. Berkshire’s Energy division purchased a 50% stake in the Cove Point LNG export terminal from Dominion Energy, bringing its total ownership to 75%. The other 25% is owned by Canadian giant Brookfield.

This follows the increased stake Berkshire took in Occidental Petroleum last week. The moves come despite falling oil and gas prices – Brent crude and LNG prices are down almost 40%.

A forecast by Wood Mackenzie suggests global LNG supply will need to increase by 25% by 2030 to meet demand levels ($). If correct, this could be just another case of Warren Buffett doing Warren Buffett things, namely buying assets at much less than their intrinsic value.

The content we're consuming today

• NY Times: Wonking Out: De-Dollarization Debunked ($).

• FT: Glencore boss considers the unthinkable: spinning off coal ($).

• Odd Lots podcast: Richard Koo on China’s Risk of ‘Japanification’.

Off-balance sheet items

• I can’t say that I am a huge history buff but the new Napoleon movie looks epic and stars Joaquin Phoenix. The wait’s epic, too – it doesn’t come out until Thanksgiving.

The bottom line