Google's Historic 396 MW Clean Energy Deal Just Changed the Game for 1 AI Power Play
Recent IPO stock Fervo Energy is building on its partnership with Google with a massive power purchase agreement.
Overview
The incredible advancements in artificial intelligence (AI) have spurred an investment supercycle, and technology companies are spending cash like never before to build data centers. However, they're hitting roadblocks, notably power. With grid connections lagging and residential customers wary of footing the bill for soaring energy costs, these tech giants are hunting for innovative power solutions to keep their data centers humming.
Google, a subsidiary of Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), has teamed up with Fervo Energy (NASDAQ: FRVO) in a groundbreaking partnership to harness clean geothermal energy. After launching a pilot project a few years ago, they're taking things to the next level with a 396-megawatt (MW) power purchase agreement.
Details
This deal helps ensure that Google's power needs are met with reliable, clean energy and puts Fervo Energy on the map. Here's why it could be a game changer for Fervo, and what comes next for the energy stock.
Source
Originally published at www.fool.com.