SLB Acquires Kelvion for $3.4B to Tap AI Data Center Cooling Demand

SLB, the world's largest oilfield services firm, is acquiring German cooling equipment maker Kelvion for $3.4B in cash plus $700M debt, marking a strategic pivot into AI data center infrastructure. The deal, expected to close in H1 2027, aims to double revenue opportunity per gigawatt of delivered capacity, signaling energy companies' diversification into power-hungry AI sectors. Regulatory approvals remain pending, and integration risks are notable.