Chevron Joins Pact to Build Gas Plants for AI Data Centers (1)

Chevron Corp., investor Engine No. 1 and GE Vernova Inc. formed a partnership to develop natural gas-fired power plants next to data centers, aiming to tap into artificial intelligence’s surging demand for electricity.

The companies plan to have their first multi-gigawatt plant up and running by the end of President Donald Trump’s term, providing power directly to a nearby data center, according to a statement Tuesday.

US demand for electricity is projected to surge almost 16% over the next five years, more than triple the estimate from a year ago, driven by data centers, new factors and the ...