Activist investor Engine No.1 is now teaming up with Chevron to build natural gas-fired power plants to meet soaring AI-driven electricity demand.
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Rapid adoption of AI technology is triggering a surge in data centre development, and in turn increasing demand for electricity
December 05, 2024--Chevron Corporation today announced an organic ... to develop advanced artificial intelligence (AI)-Assisted solutions to help operators make decisions to enhance efficiency ...
US oil and gas major Chevron and San Francisco-based hedge fund Engine No. 1 have partnered to develop and scale natural gas-powered power plants to serve co-located data centers in the Southeast, Midwest, and West of the US.
Chevron Corp. is launching a partnership to develop natural gas-fired power plants next to data centers, a move that will allow it to tap into surging demand for electricity for artificial intelligence.
Chevron U.S.A. announced Tuesday a partnership with Engine No. 1 and GE Verona in plan to develop reliable power solutions for U.S. data centers running on natural gas.
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This story incorporates reporting from Detroit News, The New York Times and Reuters.As the demand for electricity in the U.S. is projected to surge by 16% over the next five years, driven partly by the explosion of data centers,
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Jeff Gustavson said Chevron plans to build natural gas power plants that will be directly connected to data centers used by technology companies for AI.