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Chevron Partners with GE Vernova for AI Data Center Power Supply
Chevron (NYSE: CVX) has formed a 20-year partnership with GE Vernova (NYSE: GEV) to supply natural gas to Microsoft (NASDAQ: MSFT) for one of its AI data centers located in West Texas. This collaboration aims to address the increasing energy demands from growing AI data centers, which are projected to double their electricity consumption in the U.S. between 2025 and 2027, as noted by Goldman Sachs.
Traditional power utilities are struggling to keep up with the rising energy needs, prompting data center operators to generate their own electricity. The U.S. “behind the meter” power generation capacity is expected to triple by 2030, reaching 49 gigawatts, predominantly through natural gas power turbines according to research from RAND and PwC. As AI continues to expand, the demand for natural gas linked to AI operations could rise more than fivefold by 2035, placing Chevron in a favorable position to meet this need due to its existing infrastructure.
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