2 news · updated May 12, 2026

Fervo Energy IPO

2026-05-11

Bill Gates-Backed Fervo Energy Boosts IPO Target to $1.8 Billion

Bill Gates-backed Fervo Energy raised its IPO target to $1.8 billion, leveraging geothermal drilling tech to meet data center power demand. The Houston-based firm plans to list on Nasdaq by May 12 wit

bloomberg · 2026-05-11 06:05 UTC

2026-05-11

Fervo Energy Eyes $7.4 Billion Valuation in Upsized U.S. IPO

Fervo Energy targets a $7.37 billion valuation in an upsized U.S. IPO driven by AI-induced electricity demand. The geothermal developer uses AI for efficient drilling and has secured partnerships with

reuters · 2026-05-11 04:42 UTC

Fervo Energy IPO

Bill Gates-Backed Fervo Energy Boosts IPO Target to $1.8 Billion

Fervo Energy Eyes $7.4 Billion Valuation in Upsized U.S. IPO

Media coverage (2)

Related topics