Geothermal startup Fervo Energy pops 33% in IPO debut fueled by AI data center demand

Fervo Energy, the geothermal energy startup, saw its market valuation surpass $10 billion in its public market debut, an increase driven by demand for AI data centers — and the energy that can power them.

Fervo had raised $1.89 billion in an upsized initial public offering on Wednesday,…