Chevron, Engine No. 1, GE Vernova team up to build US data centers

Core Insights - Chevron and Engine No. 1 are collaborating to create a new company focused on scalable power solutions for U.S. data centers using domestic natural gas [1][6] - The partnership aims to establish the first multi-gigawatt-scale co-located power plant and data center, which will provide power equivalent to over 3 million homes [2][1] - The project will initially bypass the existing transmission grid to mitigate electricity cost risks and will integrate carbon capture and renewable energy resources [4][6] Company Developments - Chevron's CEO emphasized the alignment of the project with President Trump's energy policies, aiming to create jobs and enhance national security [4] - Engine No. 1's founder highlighted the importance of energy in maintaining America's AI leadership and restoring its industrial power [6] - The initiative is set to be operational by the end of 2027, with potential for future expansion [6] Industry Impact - The endeavor addresses the growing demand for affordable and reliable energy for U.S. data centers, crucial for the development of AI technologies [7] - The collaboration signifies a strategic move towards utilizing abundant domestic natural gas to support energy needs in the tech sector [6][1]