Fervo Energy Stocks Soar on Google Power Deal

Fervo Energy, an enhanced geothermal power developer and independent power producer listed on NASDAQ under FRVO, has seen its stock surge 28.41% after announcing a major deal with Google's parent company Alphabet, GOOG/GOOGL. The agreement involves a 396-megawatt power purchase with Fervo's Cape Station project in Utah, which is expected to begin selling power to Google in 2028.

The partnership appears to be a natural fit as Fervo can provide carbon-free thermal energy to support Google's planned artificial intelligence data center in the state. However, investors should note that Fervo's projects are still in development and the company will face pressure to supply the required power in just a few years.

The stock trading volume reached 35 million shares, significantly higher than its three-month average of 3.7 million shares. Since going public in 2026, Fervo Energy's stock has fallen 46%.