Halliburton Branching Into AI Power as Frack Demand Stagnates

Halliburton Co. is diversifying into data-center power generation amid slackening worldwide demand for oilfield fracking.

The world’s biggest fracker has sealed a deal with VoltaGrid LLC to provide electricity generation to data centers, marking the company’s first major foray into powering the booming artificial-intelligence sector. The venture, initially focused on the Middle East, will provide turbines, reciprocating engines and proprietary VoltaGrid technology to data-center developers, the companies wrote in a statement.

Halliburton rose as much as 12% for the biggest intraday advance in more than five months. The stock was buoyed both by strong third-quarter results released earlier Tuesday as ...