Fervo Energy valued at $10.21 billion in Nasdaq debut

Fervo Energy made a stunning entrance to the Nasdaq, with its stock price leaping by 33.3%, marking the company’s market value at a remarkable $10 billion. The geothermal innovator successfully garnered $1.89 billion from its initial public offering. This milestone arrives amid increased energy demands driven by the rise of AI and data center operations, putting pressure on the U.S.