US Stock Market Move | Geothermal power generation catches the AI computing tailwind; Fervo Energy (FRVO.US) rises over 7%.

On Thursday, shares of Fervo Energy (FRVO.US) opened 7% higher, with intraday gains reaching over 12% before narrowing to 7% as of press time. On the news front, the geothermal-focused company's Cape Station geothermal development project in Utah achieved first power generation. The company said this is the first time a utility-scale enhanced geothermal development project globally has reached this milestone. AI computing is placing higher demands on stable power supply. Recently, tech giants such as Alphabet Inc. Class C, Amazon.com, Inc., and Meta have stepped up their deployment of diversified power supply through Clean Energy Fuels Corp. Fervo Energy has signed a major power purchase agreement with Alphabet Inc. Class C, planning to build its Utah project into the world's largest enhanced geothermal power generation facility. Under the agreement, Fervo will supply nearly 400 megawatts of power to Alphabet Inc. Class C, enough to meet the electricity needs of a medium-sized city, making it Fervo's largest power supply agreement to date. It is reported that Fervo plans to supply power to Alphabet Inc. Class C starting in 2028 through the Cape Station project located in southwestern Utah.