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Fervo’s IPO Debut Signals How Strongly AI-Era Power Demand Is Reshaping Energy Markets
Key Takeaways
- Fervo raised $1.89 billion in an upsized IPO and its shares jumped 33% after trading began.
- Investor demand was linked to the need for electricity to serve AI data centers.
- The company says its Cape Station project in Utah is slated to begin operation this year and aims for 500 megawatts in its first phase.
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DT Editorial Team··via techcrunch.com