Fervo Energy Raises $1.89 Billion in Nasdaq Debut, Shares Jump 33% as Geothermal Bets on AI Data Center Demand
Fervo Energy priced 70 million shares at $27 each on May 13, surging 33% on its first trading day to push its market cap past $10 billion.
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Fervo Energy priced 70 million shares at $27 each on May 13, surging 33% on its first trading day to push its market cap past $10 billion.
Einride and EASE Logistics will deploy two SAE Level 4 driverless electric trucks in Marysville, Ohio this summer, while the company pursues a $1.35 billion Nasdaq listing via SPAC and scales an Amazon electric fleet.
AI chipmaker Cerebras priced its IPO $25 above the upgraded range on May 13, opened at $350 on Nasdaq the next morning, and closed its first session at $311.07 before slipping roughly 10% on Friday.
Fervo Energy, the Houston enhanced geothermal developer behind Utah's Cape Station, filed an S-1 with the SEC on April 17 to list on the Nasdaq as FRVO, with banks led by J.P. Morgan and a private valuation around $3 billion.
SpaceX submitted a confidential draft registration statement to the SEC on April 1, seeking a Nasdaq listing that could value the company at $1.75 trillion and raise $75 billion, more than triple the largest U.S. IPO on record.
Crane Harbor shareholders approve SPAC merger with Xanadu Quantum Technologies, clearing the way for a $3.6 billion Nasdaq and TSX listing under ticker XNDU on March 27.