fervo

Enterprise, Robotics & AI

Is Stripe’s IPO inevitable before achieving AGI?

Will we reach AGI before Stripe goes public? This is our Friday episode, when we dig back through the most critical stories and themes from the week. Here’s what Mary Ann and Alex got into:Stripe’s valuation recovers: As part of a tender offer, Stripe is now worth $65 billion. As part of a tender offer, Stripe is now worth $65 billion. AI and the law: Microsoft’s move to invest in French AI company Mistral is not a bad way to spread its bets.

Startups

Fervo Energy Secures $221 Million in Latest Funding Round, According to Filed Documents

Fervo Energy Project Red Rig 2 2048x1367 1

Hot on the heels of the successful completion of its grid-connected geothermal power plant in Nevada, Fervo Energy is raising $221 million per SEC documents, TechCrunch has exclusively learned. Previous geothermal plants have only scratched the surface by accessing hot springs or shallower rock formations. Fervo uses directional drilling techniques pioneered by the oil and gas industry to extend its wells far beyond their surface footprints. Once those wells are drilled, Fervo then strings them with fiber optic cables connected to a range of sensors. Previous investors include BHP Ventures, Breakthrough Energy Ventures, Congruent Ventures, DCVC, and Prelude Ventures.