Fervo Energy, the geothermal energy startup, saw its market valuation surpass $10 billion in its public market debut, an increase driven by demand for AI data centers — and the energy that can power them. Fervo had raised $1.89 billion in an upsized initial public offering on Wednesday, which initially valued the company at around $7.6 billion. Demand for Fervo stock was so great that the company and its bankers upsized the offering several times, selling an additional 14.6 million shares while