10 Best Geothermal Stocks to Buy According to Hedge Funds

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1. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Investors: 234

The tech giant and the Best Geothermal Stock, Alphabet Inc. (NASDAQ:GOOGL) is expanding its interest in geothermal energy through a partnership with Fervo Energy, a firm that develops advanced geothermal systems. This partnership focuses on implementing artificial intelligence and machine learning to improve the efficiency and responsiveness of geothermal power facilities.

On June 11, 2024, the company teamed up with NV Energy to grow its geothermal power supply for Nevada data centers from 3.5 MW to 115 MW over 6 years, moving closer to its goal of 100% renewable energy by 2030. Alphabet Inc. (NASDAQ:GOOGL) has committed to investing $4 billion in data center expansions in the United States by 2024. The deal, which is part of NV Energy’s Clean Transition Tariff, comprises a power purchase agreement with Fervo Energy, a geothermal producer. Geothermal energy accounts for 10% of Nevada’s electricity, the highest among U.S. states.

Few companies can compete with its profile. In terms of financials, Alphabet Inc. (NASDAQ:GOOGL)’s earnings report for the fourth quarter of 2024 showed a revenue of $96.47 billion, up 11.77% year on year, with EPS of $2.15. Operating income was recorded at $31 billion, with net income at $26.5 billion, up 28% and 31%, respectively. The company’s cash reserves stand at $95 billion. In terms of business model, the company’s portfolio affects nearly every smartphone user on the planet. The investments in artificial intelligence are the game changers.

Overall, GOOGL ranks first among the 10 Best Geothermal Stocks to Buy According to Hedge Funds. While we acknowledge the potential of geothermal companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GOOGL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks to Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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