$FRVO

Fervo Energy: the AI Buildout Dominatrix [FRVO]

Fervo is positioned to dominate AI datacenter power supply via Enhanced Geothermal Systems. DOE financing (80% at Treasury +0.375%), Section 48E tax credits (up to 40%), and Google's long-term PPA enable Phase II expansion with minimal equity dilution. The market has overreacted to 2027 California transmission delays and short attacks, but the underlying technology and regulatory tailwinds remain intact.