Chevron, in partnership with Engine No. 1, is entering the U.S. energy market by building natural gas-fueled power plants to supply energy directly to data centers, aiming to have the first plant online within three years. The move comes as AI technology drives a surge in electricity demand, prompting oil producers like Exxon and Chevron to pivot towards power generation. Despite market uncertainties highlighted by a Chinese AI start-up’s advances, Chevron plans to invest in up to four gigawatts of gas-generating capacity, focusing on regions with infrastructure for potential carbon capture and renewable energy integration in the future.
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Here Are My Top "Magnificent Seven" Stocks to Buy Now
The "Magnificent Seven," a term from CNBC's Jim Cramer, includes leading tech companies: Apple, Microsoft, Alphabet, Amazon, Tesla, Nvidia, and Meta. While all but Nvidia have reported results, five of these stocks are considered solid buys, with two others recommended for monitoring as they grow increasingly interesting to investors. Want More Context? 🔎
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