By Kit Norton
Shares of Fervo Energy rose before the opening bell on Monday as Wall Street looked pass a wider-than-expected quarterly loss and focused on a new partnership with Nvidia.
Fervo early Monday announced an agreement with Nvidia and Pacific Northwest Laboratory to develop a next-generation digital platform for geothermal drilling operations, according to a media release.
The Houston-based geothermal energy, which is backed by Bill Gates, will be working with the Pacific Northwest Laboratory and Nvidia to train artificial-intelligence models, which will then be integrated into the Nividia Omniverse libraries, to help geothermal operations more efficiently drill deep into the earth to harness steam to generate electricity.
Fervo stock, which made its trading debut on May 13, gained 8.2% to $37.50 in premarket trading on Monday.
Investors appeared to be looking more at the Nvidia partnership than the geothermal company's 2026 first-quarter earnings.
Fervo posted a loss of $3.72 a share compared with a year-earlier loss of $1.02 and wider than Wall Street's expectation for a loss of 5 cents a share. Sales totaled $61,000, well below analysts' calls for around $340,000, according to FactSet.
Write to Kit Norton at kit.norton@barrons.com
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June 22, 2026 07:30 ET (11:30 GMT)
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