⚡ THE OILFIELD JUST BOUGHT THE DATA CENTER COOLING LOOP.
Monday gave capital allocators a better lesson than another thousand words about whether AI stocks are expensive. SLB agreed to spend roughly $4.1 billion acquiring Kelvion, a thermal management business expected to generate as much as $1.3 billion of 2026 revenue from data centers. SLB is targeting as much as $5 billion of annual data center revenue by 2028 from the combined platform.
💰 At the same time, Aon agreed to buy USI Insurance Services for $17 billion, funded with new debt. KKR says the exit represents roughly 6.0 times its original 2017 equity investment, while Aon inherits the…
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