Baker Hughes vs Schlumberger NV: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Baker Hughes Co (BKR)

Q3 20265 Jul – 2 Oct 2026

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Record orders and backlog, but Chart acquisition and spending cuts weigh

Record orders and backlog Baker Hughes booked record orders and a $40.1 billion backlog, fueled by AI data-center power, LNG, gas turbines, subsea, and geothermal deals, plus a multi-year contract in Pakistan. This shows strong demand across its businesses.
It highlights the main positive force behind the quarter: surging demand and record order book.
Earnings beat and raised guidance Q2 earnings beat estimates and management raised guidance, with industrial and energy technology orders jumping 79%. This signaled that the company's core businesses are performing better than expected.
It shows a key positive catalyst: better-than-expected financial results and improved outlook.
Chart acquisition debt and margin squeeze The $13.6 billion Chart Industries acquisition pushed long-term debt to $15.48 billion and squeezed margins through integration costs. This led to a cut in the 2026 free cash flow target and a 6.5% share drop.
It explains the main negative driver: acquisition-related financial strain and its impact on the stock.
Weak upstream spending and hydrogen demand Management warned of declining upstream spending in Europe and the Middle East, and weak hydrogen demand. UBS also lowered its price target to $70, reflecting these concerns.
It captures the demand headwinds and analyst caution that pressured the stock.

August 20265 Jul – 2 Oct 2026

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Record Orders and Raised Guidance Offset Softer Oilfield Demand

Record orders and backlog Baker Hughes reported record orders with a $40.1 billion backlog and raised its 2026 guidance, driven by major wins in LNG, gas turbines, subsea, geothermal, and helium/CO2 equipment, including an $85.5 million Pulsar order.
This is the core positive force behind the stock's momentum in the period.
Industrial and energy technology orders surge Industrial and energy technology orders jumped 79% to nearly $12 billion in the first half, signaling demand beyond traditional oilfields and supporting the company's diversification strategy.
Shows a key growth driver that reduces reliance on oilfield services.
Softer upstream spending and Chart integration costs Management warned of modestly declining 2026 upstream oil and gas spending, especially in Europe and the Middle East. The $13.6 billion Chart Industries acquisition squeezes near-term margins via integration costs, LNG delivery timing, and weak hydrogen demand; UBS cut its price target to $70.
This is the main counterweight that tempers the positive momentum.

Latest5 Jul – 2 Oct 2026

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Baker Hughes raises guidance on record orders, but Chart integration costs weigh

Record orders and backlog drive raised guidance Baker Hughes raised its 2026 revenue and profit guidance after its industrial and energy technology orders jumped 79% to nearly $12 billion in the first half, with total backlog hitting a record $40.1 billion. More orders mean more future revenue, which supports the stock.
This is the main new positive force behind the raised outlook and shows demand is strong.
Chart integration costs and soft hydrogen demand pressure margins The $13.6 billion Chart Industries acquisition lifted guidance but near-term margins are squeezed by integration costs, timing of LNG equipment deliveries, and weak hydrogen demand. UBS cut its price target to $70, noting these pressures, which can hold the stock back.
This is the real counterweight that explains why the stock isn't rising more despite strong orders.
New subsea and geothermal deals expand revenue Baker Hughes won a major subsea contract in Angola and a North American geothermal partnership targeting up to 500 megawatts. These deals add new revenue streams and show the company is growing beyond traditional oilfield work, which supports future earnings.
New contract wins are fresh demand signals that add to backlog and diversify revenue.
Helium and CO2 equipment order from Pulsar Chart Energy & Chemicals, a Baker Hughes subsidiary, won an $85.5 million equipment proposal for Pulsar Helium's Minnesota rare gas hub. This is a smaller but concrete order that adds to backlog and shows the Chart acquisition is already bringing in new business.
It is a new order that demonstrates the Chart deal is generating revenue opportunities.

September 202629 Aug – 17 Sep 2026

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Baker Hughes wins big orders but cuts cash-flow target on Chart costs

Multi-year OGDC contract in Pakistan Baker Hughes won a multi-year deal with Pakistan's OGDC to assess 120+ wells and apply AI-enabled chemical injections and workovers. This adds recurring service revenue and shows its oilfield technology is in demand even where drilling slows, supporting future earnings.
New contract win this period that adds backlog and service revenue, a direct positive for BKR.
2026 free cash flow target cut on Chart integration Management cut its 2026 free cash flow conversion target to 40%-45%, citing Chart Industries integration costs and lower initial margins. Free cash flow is the cash left after expenses, used for dividends and debt; less of it pressures the stock, and shares fell 6.5%.
This is the main new negative driver this period, directly lowering expected cash generation and hitting the share price.
Venture Global orders for pipeline and Plaquemines LNG Baker Hughes won two major Venture Global orders: 13 gas compression systems for the Cloud Connector Pipeline and eight liquefaction modules for Plaquemines LNG. These large equipment awards build backlog and deepen a key LNG customer relationship, supporting revenue growth.
New large orders this period that add to backlog and confirm demand for BKR's LNG equipment.
Middle East compression awards highlighted Baker Hughes flagged major awards for electric motor-driven compression trains tied to a large offshore Middle East field and Aramco's Uthmaniyah gas development. These long-cycle projects add backlog and show demand for its equipment in the region, though Middle East conflict remains a risk.
New disclosure of Middle East awards this period, a positive demand signal for BKR.

29 Aug – 17 Sep 2026

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Baker Hughes wins big orders but cuts cash-flow target on Chart costs

Multi-year OGDC contract in Pakistan Baker Hughes won a multi-year deal with Pakistan's OGDC to assess 120+ wells and apply AI-enabled chemical injections and workovers. This adds recurring service revenue and shows its oilfield technology is in demand even where drilling slows, supporting future earnings.
New contract win this period that adds backlog and service revenue, a direct positive for BKR.
2026 free cash flow target cut on Chart integration Management cut its 2026 free cash flow conversion target to 40%-45%, citing Chart Industries integration costs and lower initial margins. Free cash flow is the cash left after expenses, used for dividends and debt; less of it pressures the stock, and shares fell 6.5%.
This is the main new negative driver this period, directly lowering expected cash generation and hitting the share price.
Venture Global orders for pipeline and Plaquemines LNG Baker Hughes won two major Venture Global orders: 13 gas compression systems for the Cloud Connector Pipeline and eight liquefaction modules for Plaquemines LNG. These large equipment awards build backlog and deepen a key LNG customer relationship, supporting revenue growth.
New large orders this period that add to backlog and confirm demand for BKR's LNG equipment.
Middle East compression awards highlighted Baker Hughes flagged major awards for electric motor-driven compression trains tied to a large offshore Middle East field and Aramco's Uthmaniyah gas development. These long-cycle projects add backlog and show demand for its equipment in the region, though Middle East conflict remains a risk.
New disclosure of Middle East awards this period, a positive demand signal for BKR.

9 Aug – 26 Aug 2026

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Record orders and AI power deals drive Baker Hughes, but oil spending warning weighs

New LNG and gas turbine orders Baker Hughes won a major Venture Global LNG order and a 76-turbine Dynamis Power order for 1.3 GW of data-center power. These add to its order book and show its equipment is in demand beyond oilfields, supporting future revenue and the stock.
New contracts directly boost future revenue and investor confidence.
Subsea and technology deals in Indonesia and Kuwait Baker Hughes secured subsea systems for Eni-Petronas in Indonesia and a multi-year technology collaboration with Kuwait Oil Company. These deals add backlog and recurring service revenue, reinforcing its push into higher-tech, long-term contracts.
New international contracts expand backlog and recurring revenue.
Warning on 2026 oil and gas spending Management warned that global upstream spending will decline modestly in 2026, with weakness in Europe and the Middle East. This could reduce demand for traditional oilfield services, a real counterweight to the strong orders elsewhere.
This is a new caution that could pressure future revenue from the traditional business.

July 20267 Jul – 7 Aug 2026

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Baker Hughes hits record orders on AI power and LNG demand

Record orders from AI data-center power and LNG deals Baker Hughes won a 1.8 GW Kodiak Gas deal, a 76-turbine Dynamis order, a Venture Global LNG contract, and a 1 GW Kodiak turbine supply agreement, showing strong demand for its equipment from AI data centers and LNG projects.
This is the main new driver of record orders and future revenue growth.
Q2 earnings beat and raised guidance Baker Hughes reported $10.5 billion in orders, including a record $7.1 billion in industrial and energy technology orders, beating estimates. The company raised its guidance, and the stock jumped 6% on the news.
This directly explains the positive price move during the period.
Chart Industries acquisition closes but raises debt The $13.6 billion all-cash purchase of Chart Industries closed, adding a third business segment and targeting $325 million in annual savings. However, it pushed long-term debt to $15.48 billion, increasing balance-sheet risk.
This is a major new event with both growth potential and financial risk.
Higher oil prices lift oilfield services demand Attacks in the Strait of Hormuz raised oil prices, which improved sentiment for the energy sector and increased demand for Baker Hughes' traditional oilfield services, reversing the prior period's pressure from falling crude prices.
This is a new geopolitical event that supports the core oilfield business.

10 Jul – 7 Aug 2026

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AI power and LNG orders drive Baker Hughes growth; Chart deal adds debt

AI data-center power demand fuels record orders Baker Hughes won a major LNG order from Venture Global and a 1 GW gas turbine supply deal with Kodiak Gas, while SpaceX's 20 GW power target signals massive demand for its equipment. These orders boost future revenue and investor confidence.
This is the core new demand driver lifting BKR's outlook and stock.
Q2 earnings beat and record IET orders Baker Hughes beat Q2 estimates with revenue of $6.74 billion and EPS of $0.64, driven by record orders in its Industrial & Energy Technology segment. Management expressed confidence in margins and cash flow, supporting the stock.
Strong financial results and record orders directly boost investor confidence and the stock price.
Chart acquisition completed, adds debt but synergies Baker Hughes closed its $13.6 billion all-cash purchase of Chart Industries, adding a third segment and targeting $325 million in annual cost savings. However, long-term debt jumped to $15.48 billion, raising balance-sheet risk.
The acquisition expands capabilities but the added debt is a real counterweight that could pressure the stock.

7 Jul – 29 Jul 2026

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Baker Hughes rides AI power demand and Chart deal to record orders

AI data-center power demand drives record orders Baker Hughes signed a multi-year power deal with Kodiak Gas for up to 1.8 gigawatts of behind-the-meter generation, and won a 76-turbine order from Dynamis Power for 1.3GW. Surging electricity demand from AI data centers is opening a large new market beyond oilfield services, lifting future revenue and the stock.
This is the core new growth driver behind BKR's move, showing real orders from the AI power boom.
Chart Industries acquisition completed, adding third segment Baker Hughes closed its $13.6 billion purchase of Chart Industries after winning conditional EU approval, creating a new reporting segment and targeting $325 million in annual cost savings. This expands its industrial energy equipment business and supports higher-value revenue, boosting investor confidence.
The completion of this major acquisition is a new, material event that reshapes the company and its earnings potential.
Q2 earnings beat, record IET orders, raised guidance Baker Hughes reported $10.5 billion in Q2 orders, with record $7.1 billion from its Industrial & Energy Technology segment, and beat EBITDA guidance. It raised full-year IET order guidance and lifted its Horizon 2 outlook above $45 billion, signaling strong demand across power and LNG. The stock jumped 6% on the news.
This is the period's key financial update that directly drove the stock higher and confirms the growth trend.
Oil price spike from Strait of Hormuz attacks lifts sector sentiment Attacks on ships near the Strait of Hormuz pushed crude above $72 a barrel, sending Baker Hughes shares up 2.3%. Higher oil prices typically boost drilling activity and demand for oilfield services, improving revenue prospects for the company's traditional business.
This geopolitical event is a new, near-term catalyst that lifted BKR's stock and oilfield services demand outlook.

Q2 202617 Jun – 30 Jun 2026

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Baker Hughes Wins Multiple Long-Term Energy Service Deals

Terra Innovatum adopts Baker Hughes sCO2 technology Terra Innovatum will use Baker Hughes' supercritical CO2 turbomachinery to boost its small nuclear reactor output by 25%. This shows Baker Hughes' technology is being chosen for new clean-energy projects, which could lead to future equipment sales and revenue.
New technology adoption signals growth potential beyond traditional oil and gas.
Long-term service deal for ANOH gas plant in Nigeria Baker Hughes won a long-term service agreement for the ANOH gas plant, covering parts, repairs, and digital monitoring for gas turbines. This provides steady, recurring revenue and strengthens its service business in Africa.
New contract adds predictable service revenue and expands presence in key region.
Subsea production systems award for Angola's Greater PAJ Baker Hughes will supply subsea production systems for Azule Energy's deepwater project in Angola, with deliveries starting in 2027. This large equipment order boosts future revenue and reinforces its leadership in subsea oil and gas.
New major contract win supports future revenue growth.
500 MW geothermal deal as AI drives power demand Baker Hughes signed a deal to provide subsurface solutions for up to 500 megawatts of geothermal power in North America over five years. Rising electricity demand from AI data centers is driving interest in reliable clean energy, opening a new growth area.
New geothermal agreement positions Baker Hughes in fast-growing clean power market.
13-year gas turbine services contract with Nigeria LNG Nigeria LNG awarded Baker Hughes a 13-year contract to maintain turbines at its Bonny Island plant, supporting the Train 7 expansion. This extends a 20-year partnership and locks in long-term service revenue.
New long-term contract ensures recurring revenue and deepens key customer relationship.
Falling crude prices and easing supply risks pressure oilfield services demand Crude prices fell as global supply risks eased, with more tankers moving through the Strait of Hormuz and Russian exports rising. Lower oil prices can reduce drilling activity and demand for Baker Hughes' oilfield services, though US rig counts rose to a one-year high.
Macro oil market weakness could hurt demand for oilfield services, a key Baker Hughes business.

June 202617 Jun – 30 Jun 2026

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Baker Hughes Wins Multiple Long-Term Energy Service Deals

Terra Innovatum adopts Baker Hughes sCO2 technology Terra Innovatum will use Baker Hughes' supercritical CO2 turbomachinery to boost its small nuclear reactor output by 25%. This shows Baker Hughes' technology is being chosen for new clean-energy projects, which could lead to future equipment sales and revenue.
New technology adoption signals growth potential beyond traditional oil and gas.
Long-term service deal for ANOH gas plant in Nigeria Baker Hughes won a long-term service agreement for the ANOH gas plant, covering parts, repairs, and digital monitoring for gas turbines. This provides steady, recurring revenue and strengthens its service business in Africa.
New contract adds predictable service revenue and expands presence in key region.
Subsea production systems award for Angola's Greater PAJ Baker Hughes will supply subsea production systems for Azule Energy's deepwater project in Angola, with deliveries starting in 2027. This large equipment order boosts future revenue and reinforces its leadership in subsea oil and gas.
New major contract win supports future revenue growth.
500 MW geothermal deal as AI drives power demand Baker Hughes signed a deal to provide subsurface solutions for up to 500 megawatts of geothermal power in North America over five years. Rising electricity demand from AI data centers is driving interest in reliable clean energy, opening a new growth area.
New geothermal agreement positions Baker Hughes in fast-growing clean power market.
13-year gas turbine services contract with Nigeria LNG Nigeria LNG awarded Baker Hughes a 13-year contract to maintain turbines at its Bonny Island plant, supporting the Train 7 expansion. This extends a 20-year partnership and locks in long-term service revenue.
New long-term contract ensures recurring revenue and deepens key customer relationship.
Falling crude prices and easing supply risks pressure oilfield services demand Crude prices fell as global supply risks eased, with more tankers moving through the Strait of Hormuz and Russian exports rising. Lower oil prices can reduce drilling activity and demand for Baker Hughes' oilfield services, though US rig counts rose to a one-year high.
Macro oil market weakness could hurt demand for oilfield services, a key Baker Hughes business.

17 Jun – 30 Jun 2026

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Baker Hughes Wins Multiple Long-Term Energy Service Deals

Terra Innovatum adopts Baker Hughes sCO2 technology Terra Innovatum will use Baker Hughes' supercritical CO2 turbomachinery to boost its small nuclear reactor output by 25%. This shows Baker Hughes' technology is being chosen for new clean-energy projects, which could lead to future equipment sales and revenue.
New technology adoption signals growth potential beyond traditional oil and gas.
Long-term service deal for ANOH gas plant in Nigeria Baker Hughes won a long-term service agreement for the ANOH gas plant, covering parts, repairs, and digital monitoring for gas turbines. This provides steady, recurring revenue and strengthens its service business in Africa.
New contract adds predictable service revenue and expands presence in key region.
Subsea production systems award for Angola's Greater PAJ Baker Hughes will supply subsea production systems for Azule Energy's deepwater project in Angola, with deliveries starting in 2027. This large equipment order boosts future revenue and reinforces its leadership in subsea oil and gas.
New major contract win supports future revenue growth.
500 MW geothermal deal as AI drives power demand Baker Hughes signed a deal to provide subsurface solutions for up to 500 megawatts of geothermal power in North America over five years. Rising electricity demand from AI data centers is driving interest in reliable clean energy, opening a new growth area.
New geothermal agreement positions Baker Hughes in fast-growing clean power market.
13-year gas turbine services contract with Nigeria LNG Nigeria LNG awarded Baker Hughes a 13-year contract to maintain turbines at its Bonny Island plant, supporting the Train 7 expansion. This extends a 20-year partnership and locks in long-term service revenue.
New long-term contract ensures recurring revenue and deepens key customer relationship.
Falling crude prices and easing supply risks pressure oilfield services demand Crude prices fell as global supply risks eased, with more tankers moving through the Strait of Hormuz and Russian exports rising. Lower oil prices can reduce drilling activity and demand for Baker Hughes' oilfield services, though US rig counts rose to a one-year high.
Macro oil market weakness could hurt demand for oilfield services, a key Baker Hughes business.

Schlumberger NV (SLB)

Q3 202627 Jun – 1 Sep 2026

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SLB's Q3: Oil Price Crash Offsets Contract Wins

Oil Price Crash Brent crude plunged from $138 to about $71, dragging SLB shares down 23%. Lower oil prices reduce demand for oilfield services and hurt investor sentiment.
This was the main negative force on SLB's stock price during the quarter.
New Contract Wins SLB won a seven-year Kuwait Oil AI/production contract, an Eni Baleine Phase 3 subsea deal, and formed an AI data-center alliance with Liberty Energy, expanding future revenue streams.
These new deals show SLB's ability to grow despite weak oil prices.
Strong Q2 Results and Cash Flow SLB beat Q2 estimates with $9B revenue and $0.55 EPS, grew digital revenue 9%, and improved free cash flow by $739M, showing operational strength.
These results demonstrate SLB's financial health and efficiency.
Middle East Revenue Decline Middle East revenue fell 13% due to security issues, with a warned $150M Q3 hit. This regional weakness adds pressure on near-term results.
This regional decline is a significant headwind for SLB's overall performance.

August 202624 Jul – 1 Sep 2026

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SLB beats Q2, expands into data centers and Venezuela

Strong Q2 earnings beat SLB reported Q2 revenue of $9 billion and adjusted earnings per share of $0.55, beating expectations. Digital revenue grew 9% from the prior quarter, and free cash flow improved by $739 million, showing solid financial health.
This is the core financial result that directly supports the stock and shows operational strength.
Data-center cooling acquisition and alliance SLB acquired Kelvion for $4.1 billion to provide cooling for data centers and formed an AI data-center alliance with Liberty Energy. These moves expand SLB beyond oilfield services into the fast-growing digital infrastructure market.
This is a major new growth avenue that diversifies revenue and could boost valuation.
New international contracts and Venezuela reactivation SLB won new contracts from Eni, Brunei Shell, and PDVSA, and a U.S.-Venezuela oil agreement could bring $100 billion in infrastructure investment, reactivating up to 15 rigs. These deals add long-term revenue potential.
These contract wins and the Venezuela opening represent significant new business opportunities.
Middle East security hit and oil price pressure Middle East revenue fell 13% due to security issues, and SLB warned of a $150 million hit in Q3. Falling oil prices also weighed on energy stocks, creating near-term headwinds despite long-term growth prospects.
This is the main counterweight, showing real risks that could offset positive developments.

Latest29 Aug – 1 Sep 2026

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SLB expands into data-center cooling and Venezuela oil services

Venezuela oil deals signed SLB signed agreements with Venezuela and Hunt Oil, including reservoir studies and reactivating up to 15 rigs. This opens a large new market, potentially boosting future revenue and lifting the stock.
This is a new, concrete contract win that directly expands SLB's business.
North Sea carbon storage role and new downhole system SLB became strategic reservoir partner for the Havstjerne carbon storage project and launched ExaCT, a downhole control system. These moves grow its low-carbon and well-intervention services, supporting future earnings.
New project and product launch show SLB's expansion into new areas.
$4.1B Kelvion acquisition for data-center cooling SLB agreed to buy Kelvion, a thermal management company, for about $4.1 billion. This expands its data-center solutions, expected to add revenue and be accretive to earnings within a year, driving the stock up.
Major acquisition that shifts SLB further into data-center infrastructure, a key growth driver.
US-Venezuela oil deal boosts SLB outlook The U.S.-Venezuela oil agreement could bring $100 billion in infrastructure investment, with SLB positioned to benefit. This adds long-term demand for its services, supporting the stock price.
Macro deal that creates a large pipeline of potential work for SLB.

24 Jul – 25 Aug 2026

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SLB beats Q2 estimates, expands AI and data-center push, but Middle East risks linger

Q2 beat and digital growth SLB reported Q2 revenue of $9 billion and adjusted EPS of $0.55, beating estimates. Digital revenue jumped 9% sequentially, and free cash flow improved by $739 million. This shows the company is growing profitably, which supports a higher stock price.
It explains the core earnings strength that reassures investors and supports the stock.
AI data-center alliance and contract wins SLB formed an alliance with Liberty Energy to power AI data centers and won new contracts from Eni, Brunei Shell, and PDVSA. These deals expand its digital and production services, adding future revenue streams that can lift the stock.
It highlights new business wins that drive future growth and investor optimism.
Middle East security and oil price drop Middle East revenue fell 13% due to security issues, and SLB warned of a $150 million Q3 revenue hit. Oil prices also tumbled after U.S. halted Iran strikes, dragging energy stocks down. These pressures can weigh on SLB's near-term results and stock price.
It provides the main counterweight: geopolitical and pricing risks that could hurt earnings.

July 202627 Jun – 15 Jul 2026

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SLB wins new contracts and AI data-center deal as oil crash hits

Seven-year Kuwait Oil contract SLB won a seven-year contract with Kuwait Oil Company to lead the Ahmadi Innovation Valley program, covering nearly 100 AI and production projects. This locks in long-term demand for SLB's services and digital tools, supporting future revenue and the stock price.
This is a new, concrete contract win that directly boosts SLB's order book and revenue visibility.
Eni Baleine Phase 3 subsea contract SLB's OneSubsea joint venture won a major contract from Eni for Phase 3 of the deepwater Baleine project offshore Côte d'Ivoire, delivering subsea systems for 13 wells. This adds significant deepwater project revenue and reinforces SLB's subsea leadership.
A new major contract award that signals ongoing demand for SLB's high-value subsea equipment.
Liberty Energy data-center alliance SLB formed an alliance with Liberty Energy to supply modular infrastructure and power generation for AI data centers. This expands SLB's digital and new-energy footprint, opening a new growth avenue beyond oilfield services and supporting a higher valuation.
A new partnership that diversifies SLB into the fast-growing AI data-center market, a key part of the bull case.
Oil price crash and 23% stock drop SLB shares fell 23% from their high as Brent crude plunged from $138 to about $71 on peace hopes. While this pressures near-term demand and sentiment, SLB's $100 billion deepwater project pipeline and temporary Middle East disruptions are seen as buying opportunities.
This explains the major negative price move and the counterbalancing long-term positives that investors are weighing.

27 Jun – 15 Jul 2026

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SLB wins new contracts and AI data-center deal as oil crash hits

Seven-year Kuwait Oil contract SLB won a seven-year contract with Kuwait Oil Company to lead the Ahmadi Innovation Valley program, covering nearly 100 AI and production projects. This locks in long-term demand for SLB's services and digital tools, supporting future revenue and the stock price.
This is a new, concrete contract win that directly boosts SLB's order book and revenue visibility.
Eni Baleine Phase 3 subsea contract SLB's OneSubsea joint venture won a major contract from Eni for Phase 3 of the deepwater Baleine project offshore Côte d'Ivoire, delivering subsea systems for 13 wells. This adds significant deepwater project revenue and reinforces SLB's subsea leadership.
A new major contract award that signals ongoing demand for SLB's high-value subsea equipment.
Liberty Energy data-center alliance SLB formed an alliance with Liberty Energy to supply modular infrastructure and power generation for AI data centers. This expands SLB's digital and new-energy footprint, opening a new growth avenue beyond oilfield services and supporting a higher valuation.
A new partnership that diversifies SLB into the fast-growing AI data-center market, a key part of the bull case.
Oil price crash and 23% stock drop SLB shares fell 23% from their high as Brent crude plunged from $138 to about $71 on peace hopes. While this pressures near-term demand and sentiment, SLB's $100 billion deepwater project pipeline and temporary Middle East disruptions are seen as buying opportunities.
This explains the major negative price move and the counterbalancing long-term positives that investors are weighing.

Q2 202617 Jun – 21 Jun 2026

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SLB bets big on digital and AI to offset weak oilfield results

Digital revenue target doubled to $2B by 2030 SLB plans to nearly double digital revenue to $2 billion by 2030, with AI driving growth. This gives investors a new profit engine beyond traditional oilfield services, supporting a higher stock price as digital margins expand.
This is a new, concrete growth target that directly addresses future earnings potential.
Nvidia partnership deepens with AI Factory for Energy SLB and Nvidia launched a joint AI Factory for Energy, with SLB as a design partner. Digital recurring revenue crossed $1 billion, up 15%, and data center solutions grew 45%. This strengthens SLB's tech credentials and opens new markets.
The Nvidia tie-up is a new, high-profile validation of SLB's AI strategy that can attract investor interest.
New AI marketplace with 200 digital products SLB launched a Digital Marketplace with about 200 AI products from SLB and 30+ partners. This open ecosystem aims to drive adoption of its Delfi, Lumi, and Tela platforms, expanding revenue beyond oilfield services and positioning SLB at the center of industry digitalization.
The marketplace is a new commercial channel that could accelerate digital revenue growth.
Long-term contract with Venezuela's PDVSA SLB signed a long-term MOU with PDVSA to modernize Venezuela's oil and gas sector, covering exploration, production, and digital enablement. This adds a new source of demand for SLB's services and digital tools, potentially boosting future revenue.
This is a new geographic contract win that expands SLB's addressable market.

June 202617 Jun – 21 Jun 2026

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SLB bets big on digital and AI to offset weak oilfield results

Digital revenue target doubled to $2B by 2030 SLB plans to nearly double digital revenue to $2 billion by 2030, with AI driving growth. This gives investors a new profit engine beyond traditional oilfield services, supporting a higher stock price as digital margins expand.
This is a new, concrete growth target that directly addresses future earnings potential.
Nvidia partnership deepens with AI Factory for Energy SLB and Nvidia launched a joint AI Factory for Energy, with SLB as a design partner. Digital recurring revenue crossed $1 billion, up 15%, and data center solutions grew 45%. This strengthens SLB's tech credentials and opens new markets.
The Nvidia tie-up is a new, high-profile validation of SLB's AI strategy that can attract investor interest.
New AI marketplace with 200 digital products SLB launched a Digital Marketplace with about 200 AI products from SLB and 30+ partners. This open ecosystem aims to drive adoption of its Delfi, Lumi, and Tela platforms, expanding revenue beyond oilfield services and positioning SLB at the center of industry digitalization.
The marketplace is a new commercial channel that could accelerate digital revenue growth.
Long-term contract with Venezuela's PDVSA SLB signed a long-term MOU with PDVSA to modernize Venezuela's oil and gas sector, covering exploration, production, and digital enablement. This adds a new source of demand for SLB's services and digital tools, potentially boosting future revenue.
This is a new geographic contract win that expands SLB's addressable market.

17 Jun – 21 Jun 2026

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SLB bets big on digital and AI to offset weak oilfield results

Digital revenue target doubled to $2B by 2030 SLB plans to nearly double digital revenue to $2 billion by 2030, with AI driving growth. This gives investors a new profit engine beyond traditional oilfield services, supporting a higher stock price as digital margins expand.
This is a new, concrete growth target that directly addresses future earnings potential.
Nvidia partnership deepens with AI Factory for Energy SLB and Nvidia launched a joint AI Factory for Energy, with SLB as a design partner. Digital recurring revenue crossed $1 billion, up 15%, and data center solutions grew 45%. This strengthens SLB's tech credentials and opens new markets.
The Nvidia tie-up is a new, high-profile validation of SLB's AI strategy that can attract investor interest.
New AI marketplace with 200 digital products SLB launched a Digital Marketplace with about 200 AI products from SLB and 30+ partners. This open ecosystem aims to drive adoption of its Delfi, Lumi, and Tela platforms, expanding revenue beyond oilfield services and positioning SLB at the center of industry digitalization.
The marketplace is a new commercial channel that could accelerate digital revenue growth.
Long-term contract with Venezuela's PDVSA SLB signed a long-term MOU with PDVSA to modernize Venezuela's oil and gas sector, covering exploration, production, and digital enablement. This adds a new source of demand for SLB's services and digital tools, potentially boosting future revenue.
This is a new geographic contract win that expands SLB's addressable market.