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The significant rise in share price upon IPO reflects strong market enthusiasm, which is likely to continue as investors seize on growth potential in new energy solutions, similar to the initial public offerings of other successful tech-oriented companies.
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Fervo Energy's stock jumped 30% upon its Nasdaq debut, reflecting strong market interest in geothermal energy as demand for AI data center power grows. The startup raised $1.9 billion through its IPO, indicating ambitions for major expansion despite its pre-revenue phase and high upfront expenses.
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