Big Oil wants to help Big Tech power artificial intelligence data centers [CNBC]
Exxon Mobil Corporation (XOM)
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Source: CNBC
Exxon plans to build a natural gas plant to power a data center and use carbon capture technology to slash the plant's emissions. Exxon CEO Darren Woods said decarbonized natural gas plants are a quicker solution to the tech industry's power needs than nuclear. Exxon Mobil and Chevron are jumping into the race to power artificial intelligence data centers, as the two oil majors bet tech companies will ultimately turn to natural gas to meet their tremendous energy needs. Exxon unveiled plans this week to build a natural gas plant to power a data center. The oil major says it would then use carbon capture and storage technology to reduce the emissions of the plant by 90%. “We're working with other large cap industrials to rapidly deploy a solution that would provide both high reliability and low carbon intensity power to meet the growing demand for computing power for artificial intelligence,” Exxon Chief Financial Officer Kathryn Mikells told Wall Street analysts Wednesday wit
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XOM
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- 11/1/24 - Beat
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- 12/18/24 - Form 4
- 12/16/24 - Form 4
- 12/2/24 - Form 4
- XOM's page on the SEC website