SLB Shares Rise on Strong Q2 Results and AI Expansion
Shares of Schlumberger (NYSE: SLB) rose last week following better-than-expected second-quarter results. The oilfield services company reported a year-over-year revenue increase to $8.97 billion, driven by energy security concerns amid the Middle East conflict and investments in asset longevity technologies. SLB is also expanding into new markets like artificial intelligence (AI), where its data center-related revenue surged 80%, on track for over $1 billion annually this year. CEO Olivier Le Peuch highlighted growing demand from clients seeking supply diversification, production expansion, and reliable energy solutions in a volatile geopolitical climate. Despite the positive results, The Motley Fool's Stock Advisor team did not recommend SLB as one of their top 10 stocks for long-term growth at this time.
Topics: AI infrastructure energy stock performance