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Chevron Expands Power Generation Plans for U.S. Data Centers [Yahoo! Finance]

Chevron Corporation (CVX) More Company Research Source: Yahoo! Finance

Last chevron corporation earnings: 5/1 06:45 am Check Earnings Report

US:NYSE Investor Relations: chevron.com/investors

With the global shift toward artificial intelligence (“AI”) and the rapid expansion of Big Tech, data centers are becoming increasingly power-hungry, requiring a reliable and consistent energy supply. CVX's foray into this sector marks a significant departure from traditional operations, as it seeks to tap into the surging electricity demand of data centers by developing energy solutions powered primarily by natural gas. Energy consumption for U.S. data centers is expected to skyrocket over the next few years, with a projected tripling of demand. The increasing reliance on AI and the expansion of cloud computing are the primary drivers behind this surge. Data centers, which house vast amounts of servers and computing infrastructure, are essential to these technologies. As AI evolves, these facilities require more power to operate, placing a strain on the nation's existing power generation capabilities. To keep up with this demand, major technology companies have entered into long- [Read more]

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