Chevron Wants to Tap Into A.I. Boom by Selling Electricity to Data Centers

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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