Alphabet Locks Down Geothermal Power Deal with Fervo Energy

Alphabet's share price dipped to $333.535 on Tuesday due to market fluctuations.

However, this downturn did not hinder Google's efforts in securing a reliable power source for its artificial-intelligence machines.

Fervo Energy has agreed to supply Alphabet with 396 megawatts of geothermal electricity from the Cape Station project in Utah, which is expected to come online in 2028.

Notably, this contract includes an option for Alphabet to purchase an additional 600 megawatts, potentially bringing the total capacity to 996 megawatts, just shy of one gigawatt.