$FRVO

AI data centre power demand is outpacing grid and delivery capacity, according to Goldman Sachs Research. It forecasts US data centre consumption rising from about 31GW in 2025 to ~66GW by 2027, with data centres reaching 8.5% of peak summer electricity. SpaceX and others cite supply gaps and pre-sold compute. The article also covers Vesari’s geothermal plans backed by Tekcapital (AIM: TEK) and Fervo Energy’s IPO (FRVO).

Simply Wall St reports analyst upgrades for Fervo Energy (FRVO) after positive drilling updates and progress at the Cape Station geothermal project. It cites long-term contracted power purchase agreements totaling 658 MW and $7.2b in contracted revenue, plus a 3 GW framework with Google. The article says fair value is $46 versus a $24.02 close and notes the stock fell 8.93% on the day and 34.28% YTD.

Fervo Energy (FRVO) fell after its May IPO at $27, debuting up 35% before retreating to about $22.50. In Q1 FY2026 it reported $61,000 revenue and a $31.8M net loss, with capex of $172.8M. Jefferies upgraded to Buy, citing near-term catalysts, a $34 target, and a $7.2B contracted backlog.

US equity futures rebounded as Iran’s Foreign Ministry said it received mediator proposals on the US conflict. S&P 500 futures rose 0.5% and Nasdaq futures 1%. Oil was lower premarket (WTI down, Brent about $87/bbl). Multiple stocks moved on earnings, upgrades, and deal news, including AMC, Domino’s, Hut 8, Iren, LXP, and DPZ. Hyperscaler earnings are a key catalyst this week.

A roundup of Monday analyst actions includes Morgan Stanley reiterating Nvidia (overweight) and Broadcom (overweight), with a focus on data center memory-cycle signals. BMO downgraded Charles Schwab to market perform. Cantor reiterated Tesla overweight ahead of earnings. Other calls include price targets for Versigent, Crane, Lumentum, and Apple, plus initiations for BP and TotalEnergies.

The article compiles major Wall Street analyst actions for multiple stocks. Examples include Wells Fargo upgrading SBA Communications to Overweight with a $210 price target, Bank of America reiterating Netflix (PT cut to $105) and Nvidia (buy), and BMO reiterating Alphabet (PT raised to $455). It also lists upgrades, initiations, and targets for companies including Tesla, Apple, 3M, Moody’s, and others.

Barchart says geothermal developer Fervo Energy (FRVO) has a $7.2 billion potential backlog and has signed power purchase deals with Alphabet, Shell and Southern California Edison. On July 9, it reported a 143% improvement in drilling rates. The article cites 2025 revenue of $138,000, Jefferies’ warning of transmission constraints, and notes FRVO shares down 22% in a month.

Fervo Energy (FRVO) said it, NVIDIA (NVDA), and Pacific Northwest National Laboratory will develop EGS-Twin, a digital twin platform for enhanced geothermal systems. PNNL will use Fervo’s Nevada and Utah field data to train AI models on NVIDIA infrastructure. The platform is targeted for implementation by 2029, aiming to improve subsurface management and power optimization.

Fervo Energy said it drilled Sawtooth 7, the ninth Cape Station Phase II well using its 3.0 design, from spud to total depth in 21 days. The well reached 19,448 feet measured depth and a 7,500-foot lateral at 460°F. Fervo reported drilling rates up 143% since its first Cape Station well and reiterated a $5,500 per kW target for Phase II.

The U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL) is partnering with geothermal company Fervo Energy and AI firm NVIDIA to build “Enhanced Geothermal System Twin” (EGS-Twin), a real-time digital twin for geothermal reservoir modeling. Fervo’s Project Red generates 3 MW in Nevada; Project Cape targets 100 MW in 2026 and 500 MW by 2028. Deployment is expected by 2029.