• On 14 April 2026, Geminus AI announced a partnership with Bapco Energies and SLB to deploy physics-informed AI for real-time optimization across Bahrain's upstream production system, integrating SLB's Pipesim simulator with extensive field data to support the Kingdom's Net-Zero by 2060 goals.
• This project embeds SLB’s digital tools deep within a national energy network, potentially strengthening long-term customer ties and expanding its role in AI-enabled operations.
• We’ll examine how embedding SLB’s physics-informed AI tools into Bahrain’s national production system could influence the company’s broader investment narrative.

AI is about to change healthcare. These 35 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

SLB Investment Narrative Recap

To own SLB, you need to believe hydrocarbons will remain essential while digital and AI tools steadily deepen SLB’s role in production optimization and energy transition projects. The Bahrain physics-informed AI partnership showcases this digital angle but does not materially change the near term catalyst, which remains execution on earnings and integration of ChampionX. The biggest risk still centers on operator spending cuts if macro or geopolitical conditions worsen.

The Geminus AI project ties directly into SLB’s broader digital push, echoing its 2025 collaboration with Shell on agentic AI and open data infrastructure. Both initiatives highlight how SLB is weaving AI into core workflows across subsurface, drilling, and production, which could support higher margin, more recurring digital revenues if customer adoption continues to expand.

Yet, against this promising AI story, investors should also be aware that...

SLB's narrative projects $40.6 billion revenue and $5.5 billion earnings by 2029. This requires 4.4% yearly revenue growth and a $2.1 billion earnings increase from $3.4 billion today.

Uncover how SLB's forecasts yield a $56.36 fair value, a 4% upside to its current price.

Exploring Other Perspectives

The Bahrain AI partnership highlights SLB’s transition story, but the most pessimistic analysts once projected only about 1.5% annual revenue growth and US$4.7 billion earnings by 2028, so you should recognize how sharply opinions can differ before you decide which scenario feels more reasonable.

Explore 10 other fair value estimates on SLB - why the stock might be worth 26% less than the current price!

Form Your Own Verdict

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your SLB research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.
• Our free SLB research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate SLB's overall financial health at a glance.

Contemplating Other Strategies?

Early movers are already taking notice. See the stocks they're targeting before they've flown the coop:

• Find 61 companies with promising cash flow potential yet trading below their fair value.
• The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 19 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.
• Uncover the next big thing with 26 elite penny stocks that balance risk and reward.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.