SLB and NVIDIA collaborate to develop generative AI solutions for the energy sector

Rhea-AI Summary

SLB (NYSE: SLB) and NVIDIA are collaborating to develop generative AI solutions for the energy industry. This partnership aims to accelerate the deployment of industry-specific AI foundation models across SLB's platforms, including Delfi™ and Lumi™. The collaboration leverages NVIDIA NeMo™ to create custom generative AI for subsurface exploration, production operations, and data management.

The initiative seeks to optimize operations, enhance efficiency, and reduce carbon footprints in the energy sector. SLB will integrate NVIDIA NeMo and NIM™ inference microservices to offer customers a robust platform for implementing generative AI in technical workflows. This collaboration builds on a partnership that began in 2008, focusing on GPU use for subsurface imaging and geoscience interpretation.

Positive

• Collaboration with NVIDIA to develop industry-specific generative AI solutions
• Potential for improved efficiency and optimization in energy operations
• Integration of advanced AI technologies into SLB's existing platforms
• Long-standing partnership with NVIDIA since 2008

Negative

• None.

Insights

Technology Analyst

The collaboration between SLB and NVIDIA marks a significant leap in applying generative AI to the energy sector. By leveraging NVIDIA's NeMo platform, SLB aims to develop custom AI models tailored for complex energy industry tasks. This partnership could revolutionize subsurface exploration, production operations and data management.

The potential impact on operational efficiency and carbon footprint reduction is substantial. However, the real game-changer lies in enabling domain experts to interact with technical processes in novel ways. This could lead to faster decision-making and more innovative solutions in the energy sector.

While the immediate financial impact isn't quantified, the long-term implications for SLB's competitive edge and market position are promising. Investors should monitor how quickly these AI solutions translate into tangible operational improvements and cost savings for SLB's clients.

Energy Industry Expert

This collaboration addresses a critical need in the energy sector: balancing increased production with decarbonization efforts. The application of generative AI to energy-specific challenges could be transformative, potentially accelerating the industry's transition towards more sustainable practices.

Key areas to watch include:

• Optimization of subsurface exploration, potentially reducing the environmental impact of drilling activities
• Enhanced production operations, which could lead to more efficient resource utilization
• Improved data management, facilitating better decision-making in complex energy projects

The success of this initiative could position SLB as a leader in AI-driven energy solutions, potentially opening new revenue streams and strengthening its market position in the evolving energy landscape.

Financial Analyst

While the announcement lacks specific financial projections, the strategic implications for SLB are significant. The company's long-standing collaboration with NVIDIA, dating back to 2008, provides a solid foundation for this new AI-focused initiative.

Key financial considerations include:

• Potential for increased revenue through new AI-powered services and solutions
• Possible margin improvements as AI enhances operational efficiencies
• Long-term competitive advantage in the energy technology sector

Investors should closely monitor SLB's future earnings reports for indications of how this AI integration impacts the company's financial performance. While the immediate effect may be , the long-term potential for value creation is substantial, particularly if SLB can establish itself as the go-to provider for AI solutions in the energy industry.

Collaboration will accelerate and scale the deployment of energy industry-specific AI foundation models across SLB’s platforms

MONACO--(BUSINESS WIRE)-- Global energy technology company SLB (NYSE: SLB) is building on its long-standing collaboration with NVIDIA to develop generative AI solutions for the energy industry.

Working together with NVIDIA, SLB will build and optimize models to the specific needs and requirements of the data-intensive energy industry, including subsurface exploration, production operations and data management. (Photo: Business Wire)

The collaboration accelerates the development and deployment of industry-specific generative AI foundation models across SLB’s global platforms, including its Delfi™ digital platform and Lumi™ data and AI platform, by leveraging NVIDIA NeMo™, part of the NVIDIA AI Enterprise software platform, to develop custom generative AI that can be run in the data center, in any cloud or at the edge.

Working together with NVIDIA, SLB will build and optimize models to the specific needs and requirements of the data-intensive energy industry, including subsurface exploration, production operations and data management. This will help unlock the full potential of generative AI for energy domain experts including researchers, scientists and engineers―enabling them to interact with complex technical processes in new ways to drive higher value and lower carbon outcomes.

"As we navigate the delicate balance between energy production and decarbonization, generative AI is emerging as a crucial catalyst for change," said Olivier Le Peuch, chief executive officer, SLB. "Our collaboration with NVIDIA will accelerate the creation of tailored generative AI solutions, enabling our customers to optimize operations, enhance efficiency and minimize their overall footprint."

“AI offers the energy industry an extraordinary tool for sustainably providing the resource that powers life across our planet,” said Jensen Huang, founder and CEO of NVIDIA. “Custom models created by SLB leveraging NVIDIA NeMo will provide the industry’s scientists and engineers unprecedented insight to speed their work in optimizing the energy supplies today and unlocking the clean energy innovations of tomorrow.”

SLB and NVIDIA’s collaboration first began in 2008 with the innovative use of graphics processing units (GPUs) for subsurface imaging and geoscience interpretation. The companies have worked closely over the years to optimize every generation of SLB’s high-performance compute and visualization technologies available on its Delfi platform. SLB’s integration of NVIDIA NeMo and NVIDIA NIM™ inference microservices will offer customers a robust platform for harnessing generative AI in their technical workflows.

Today’s announcement was made at the SLB Digital Forum 2024, which is taking place this week in Monaco.

For more information, visit slb.com/NVIDIACollaboration.

About SLB

SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240918905105/en/

Media

Moira Duff – Director of External Communications

SLB

Tel: +1 (713) 375-3407

media@slb.com



Investors

James R. McDonald – SVP of Investor Relations & Industry Affairs

Joy V. Domingo – Director of Investor Relations

SLB

Tel: +1 (713) 375-3535

investor-relations@slb.com

Source: SLB

FAQ

What is the purpose of SLB's collaboration with NVIDIA announced on September 18, 2024?

SLB (NYSE: SLB) is collaborating with NVIDIA to develop and deploy generative AI solutions specifically for the energy industry, aiming to optimize operations, enhance efficiency, and reduce carbon footprints.

How will SLB implement NVIDIA's AI technology in its platforms?

SLB will integrate NVIDIA NeMo and NIM inference microservices into its Delfi digital platform and Lumi data and AI platform to create custom generative AI models for energy industry applications.

What areas of the energy industry will SLB and NVIDIA's AI collaboration focus on?

The collaboration will focus on developing AI solutions for subsurface exploration, production operations, and data management in the energy sector.

When did SLB (NYSE: SLB) and NVIDIA first start collaborating?

SLB and NVIDIA's collaboration began in 2008, initially focusing on the use of GPUs for subsurface imaging and geoscience interpretation in the energy industry.