SLB Turns Data-Center Cooling Into a $4.1 Billion AI-Industrial Beachhead

SLB said on August 31, 2026 that it agreed to acquire Kelvion, a German thermal-management and heat-exchange company, for about $3.4 billion in cash plus roughly $0.7 billion of assumed debt. The deal expands SLB’s Data Center Solutions business and positions cooling, modular construction and industrial reliability as core bottlenecks in the AI buildout.