Tech giants seek to increase power supply from underground! Fervo (FRVO.US) geothermal project generates electricity for the first time, adding a key piece to Google's ambitious AI plans.

According to Golden Ten Data, Fervo Energy (FRVO.US) saw its share price soar by more than 14% in pre-market US trading on Thursday after the geothermal-focused company achieved first power generation at its Cape Station geothermal development project in Utah. The company stated that this marks the first time a utility-scale enhanced geothermal development project has reached this milestone globally. Recently, tech giants such as Google, Amazon, and Meta have been ramping up their investments in clean energy. The core reasoning lies in the fact that the stable power supply from such zero-carbon and non-volatile energy sources, compared to the highly fluctuating prices of oil and gas resources, is becoming a solid cornerstone for the capital efficiency of AI computing power.