Chevron Is Turning on the Gas to Power AI Data Centers

Chevron (NYSE: CVX) holds a treasure trove of low-cost natural gas resources across the U.S. This lower-carbon fuel could play a significant role in powering the artificial intelligence (AI) revolution. That technology requires a tremendous amount of electricity to power the specialized chips needed to run AI applications in data centers.The energy company is taking a major step to capitalize on this opportunity. It's partnering with a leading investment firm (Engine No. 1) and GE Vernova (NYSE: GEV) to provide natural gas power solutions to U.S. data centers.Chevron is a major U.S. natural gas producer. The energy giant produced nearly 2.7 billion cubic feet of natural gas per day (Bcf/d) during the third quarter of last year. That's a significant increase from 2023's level when its average output through the first nine months was less than 2 Bcf/d. While it trails industry leader Expand Energy's more than 6.1 Bcf/d in production, Chevron is one of the top gas producers in the country. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool