SLB's Kelvion Deal Seen as Broadening Data Center Opportunity
Dow Jones
2 hours ago
1202 ET - SLB's acquisition of Kelvion adds scale and breadth to its data-center business strategy, Melius Research analysts James West and Sanskriti Reddy say. The deal is expected to double SLB's revenue opportunity per gigawatt of delivered capacity. SLB's business was already on track to hit a $2 billion revenue run-rate or more by the end of 2027, the analysts say. Kelvion adds $1.2 billion to $1.3 billion of data center revenue alone, they note. SLB now anticipates data center revenue will be $4.5 billion to $5 billion, which the analysts say is roughly 10% of total company revenue. Shares are up 2.6%.
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