Does Chevron's Joint Venture With GE Vernova Make the Stock a Buy Ahead of 2027?
The oil and gas giant is teaming with GE Vernova to power next-generation AI data centers.
Overview
Data centers are driving energy demand like never before. However, there is a collective effort to ensure that energy remains affordable for residential customers. Not only that, but long interconnection times to the power grid mean that hyperscalers are scrambling for power solutions outside traditional utilities. This surge has driven strong demand for GE Vernova's (NYSE: GEV) gas turbines and the natural gas they consume.
Amid this growing demand, GE Vernova has partnered with Chevron (NYSE: CVX) on natural gas production and logistics, and the companies aim to deliver behind-the-meter power solutions to meet the massive power demands of AI data centers.
Details
With facilities set to come online in 2027, does that make Chevron stock a buy?
Source
Originally published at www.fool.com.