SLB, formerly Schlumberger, has become the world’s largest oilfield services and energy technology company, employing 109,000 people across more than 100 countries. The company, whose market cap remains below $75 billion compared to ExxonMobil’s $600 billion, is ideally positioned to benefit from the rebound in oil exploration in the Middle East and Venezuela after the Strait of Hormuz closure. Its fastest-growing segment is now its digital and data center solutions business, with SLB helping AI hyperscalers optimize power management and build modular data centers. AI hyperscalers plan to spend approximately $710 billion on North American data centers in 2026 alone, giving SLB new opportunities beyond its cyclical oil and gas business.
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