Shares of Fervo Energy surged more than 12% Tuesday after a report revealed the geothermal power developer has struck its largest-ever supply agreement with Google, a deal that stands as a direct rebuttal to investor concerns raised following the company's most recent earnings report.

The stock traded at 17.32 dollars, up 1.94 dollars, or 12.62%, as of 9:42 a.m. Eastern time on the Nasdaq, having climbed as much as 14.3% in pre-market trading. The rally came even as the broader U.S. market struggled Tuesday, with the S&P 500 down about 0.5%, the Dow Jones Industrial Average off roughly 0.6%, and the Nasdaq Composite declining about 1%, according to Investing.com, underscoring that Fervo's move was driven by company-specific news rather than a broader sector rotation.

According to a Wall Street Journal report cited by Investing.com, Fervo has agreed to supply nearly 400 megawatts of electricity to Google from its Cape Station project in southwestern Utah, with deliveries to the technology giant beginning in 2028. The........

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