Chevron May Have Unlocked a Powerful New Growth Engine
Historical dividing lines are being crossed, but crossing them here and now makes perfect sense.
Overview
You know it as an integrated oil and gas outfit, and that's still mostly what it is. Energy powerhouse Chevron (NYSE: CVX), however, is also now becoming something else. And it's a brilliant move.
Chevron is moving into the artificial intelligence (AI) data center space. Last month, the company announced it's partnering with GE Vernova (NYSE: GEV) to supply software giant Microsoft (NASDAQ: MSFT) with electricity for one of its AI data centers in West Texas. GE Vernova will supply the natural gas turbines, and Chevron will supply the natural gas. The agreement has a 20-year term.
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Originally published at www.fool.com.
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