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Chevron, GE Launch $4 Billion Power Venture for AI

1/28/2025

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Summary

Story summary

Chevron, GE Vernova, and Engine No. 1 launched a joint venture to develop 4 gigawatts of natural gas power for U.S. data centers by 2027.
This initiative addresses the growing energy needs of AI development while mitigating electricity price volatility.
Initial "power foundries" will use GE Vernova turbines, focusing on the Southeast, Midwest, and West regions.
The partnership aims to bolster U.S. AI leadership and generate thousands of jobs.

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Story summary

Chevron, GE Vernova, and Engine No. 1 launched a joint venture to develop 4 gigawatts of natural gas power for U.S. data centers by 2027.
This initiative addresses the growing energy needs of AI development while mitigating electricity price volatility.
Initial "power foundries" will use GE Vernova turbines, focusing on the Southeast, Midwest, and West regions.
The partnership aims to bolster U.S. AI leadership and generate thousands of jobs.