Chevron advances plans to develop US data centers with power generation

Energy use for U.S. data centers, which are essentially giant server warehouses, is expected to triple in the next three years as the race to expand artificial intelligence intensifies.
Big Tech has struck unprecedented power purchase deals to quickly access vast quantities of electricity, including buying directly from nuclear power plants and inking agreements with utilities to bring power generation to the grid.
That growth - and the need to access vast amounts of electricity fast - is upending the country's power industry, which is seeing record peak demand after dismal growth over nearly two decades, and giving new rise to natural gas consumption.
And Big Oil is tapping into that growth.
"The customer interest is high,"
"It's really trying to intersect where they have that level of need because they're building new or expanding facilities, at a rate that's ahead of the power supply."
Many new data centers, which were typically around 20 gigawatts (GW), are being built 50 times their traditional size and requiring as much around-the-clock electricity at a single location as an entire mid-sized city.
"We're really focused on scale, speed and reliability," the executive said.
He did not disclose
Natural gas, which had been avoided by Big Tech in various climate pledges over the last several years that called for a full shift to renewable energies to power their operations, has become an increasingly popular option for data center fuel.
The fuel is relatively cheap and abundant in the U.S., the world's top gas producer, and gas-fired power plants are quicker to construct than some other generation sources like nuclear.
(Reporting by
(c) Reuters 2025. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

Related News
-
Intel's new CEO to receive $1 million as base salary
Reuters - 5:08 PM ET 3/14/2025
-
What 7 Analyst Ratings Have To Say About EverCommerce
Benzinga - 4:00 PM ET 3/14/2025
-
Breaking Down PagerDuty: 5 Analysts Share Their Views
Benzinga - 2:00 PM ET 3/14/2025
-
Unpacking the Latest Options Trading Trends in Microsoft
Benzinga - 1:45 PM ET 3/14/2025
-
Infosys settles lawsuits against US unit over cyber incident for $17.5 million
Reuters - 11:39 AM ET 3/14/2025
-
How Bitdeer Is Transforming Bitcoin Mining Machines
Coindesk - 11:09 AM ET 3/14/2025
-
Exploring The Competitive Space: Microsoft Versus Industry Peers In Software
Benzinga - 11:00 AM ET 3/14/2025