Fervo Energy, Supported by Bill Gates, Raises IPO Target to $1.82 Billion Amid Market Demand

Fervo Energy, a geothermal power developer backed by Bill Gates, has increased its IPO target to $1.82 billion. The company raised its share count by 26% and the top-end price by roughly 8%, as disclosed in a recent SEC filing. This adjustment reflects strong investor interest driven by demand for reliable, clean baseload energy, particularly from AI data center customers.