TotalEnergies SE (NYSE:TTE) shares are trading lower during Wednesday’s premarket session. The company, in partnership with Dell Technologies Inc. (NYSE:DELL) and NVIDIA Corporation (NASDAQ:NVDA) signed a contract to design and install "Pangea 5,”

It is a next-generation supercomputer hosted at its Jean Féger Scientific and Technical Center (CSTJF) in Pau, France.

The company says Pangea 5 is expected to multiply its computing power by six and is slated to be first commissioned in 2027.

Located at the Jean Féger Scientific and Technical Center in Pau, France, the system will increase the company's computing capacity sixfold and represents an investment of over €100 million ($85 million).

The upgraded system will enhance seismic and subsurface imaging to speed up exploration and support lower-cost, lower-emission hydrocarbon development.

It will also expand AI-driven R&D capabilities, improving simulation speed and enabling more advanced modeling of complex energy systems, including integrated power networks.

Executive Commentary

“Artificial intelligence and digital technology are strategic drivers of our energy transition. By increasing our computing power sixfold, we are strengthening our leadership in high-performance computing ensuring that our experts teams continue to have the means to push the envelope to support the development of our activities and meet the growing global demand for energy,” added Namita Shah, president of OneTech at TotalEnergies.

Earnings Snapshot

Last month, the Paris-based energy giant posted adjusted earnings of $2.45 per share, missing the $2.23 consensus estimate.

Revenue for the quarter came in at $54.16 billion, below the $61.93 billion expectation.

The company said Middle East disruptions have led to a 15% production shutdown in Qatar, Iraq, and the UAE and pushed oil prices toward $100 per barrel. The conflict has also lowered expectations for a 2026 hydrocarbon surplus.

Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price target of $83.00 (range: $70.00 to $97.00) across 9 analysts. Recent analyst moves include:

• Scotiabank: Sector Perform (Raises Target to $97.00) (April 22)
• Piper Sandler: Neutral (Raises Target to $92.00) (March 12)
• JP Morgan: Upgraded to Overweight (March 2)

Top ETFs Holding TotalEnergies (TTE) Stock

• SPDR DJ Euro STOXX 50 ETF (NYSE:FEZ): 2.86% Weight
• State Street SPDR S&P Global Natural Resources ETF (NYSE:GNR): 3.68% Weight
• SPDR S&P Global Natural Resources ETF (NYSE:GNR): 2.77% Weight

Significance: Because TTE carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

TTE Stock Price Activity: TotalEnergies shares were down 5.17% at $88.76 during premarket trading on Wednesday, according to Benzinga Pro data.

Photo via Shutterstock