SLB Gains on Dividend Hike as It Sees AI Lifting Oil Demand (1)

Shares of SLB, the world’s largest oil-services provider, gained after the company said it plans to boost total returns to shareholders 21% this year to at least $4 billion as it gears for rising energy demand from artificial intelligence.

The company that helps clients drill oil wells and map underground pockets of crude said in a statement Friday that it had adjusted quarterly earnings of 92 cents a share and revenue of $9.28 billion in the fourth quarter, exceeding analyst expectations. SLB shares rose as much as 7.9%, the most intraday in more than two months.

SLB boosted ...