Fervo Energy Just Became Clean Energy's Biggest IPO
A geothermal startup backed by Bill Gates raised $1.89 billion in its public debut last week, and the stock surged 33% on day one. Fervo Energy, which drills deep to tap heat from hot rocks, now carries a $7.7 billion valuation. What makes this significant beyond the ticker price: geothermal produces power 24/7, rain or shine. That makes it uniquely attractive to AI data centers desperate for reliable clean electricity. Fervo is the first next-generation geothermal company to go public, and its IPO signals that investors see a future where the Earth's heat competes with solar and wind as a foundational clean energy source.A geothermal startup backed by Bill Gates raised $1.89 billion in its public debut last week, and the stock surged 33% on day one. Fervo Energy, which drills deep to tap heat from hot rocks, now carries a $7.7 billion valuation. What makes this significant beyond the ticker price: geothermal produces power 24/7, rain or shine. That makes it uniquely attractive to AI data centers desperate for reliable clean electricity. Fervo is the first next-generation geothermal company to go public, and its IPO signals that investors see a future where the Earth's heat competes with solar and wind as a foundational clean energy source.Expert summary pending. Showing the newcomer version.