In the closing of the recent trading day, Chevron (CVX) stood at $171.45, denoting a -2.57% move from the preceding trading day.
CVX strengthens Project Kilby with strategic land and brackish water resources, advancing responsible power infrastructure for AI-driven growth.
Crude oil has whipsawed investors all year. WTI spiked to $112.25 per barrel in mid-May as the Iran conflict rattled supply lanes, then drifted back to $84.65 by June 15.
Chevron has secured a 20-year deal to supply natural gas-fired power to Microsoft's data center, marking a breakthrough in AI-driven energy demand. CVX's Project Kilby will deliver up to 5GW capacity, with initial CapEx of $7B and potential EBITDA of $5.6–$10.5B, offering a replicable blueprint for future contracts. While the Microsoft agreement adds only 1.7%-3.2% to 2028 EBITDA, scaling similar deals could address CVX's lack of organic growth.
Generative artificial intelligence (AI) requires an unfathomable amount of electricity. While retail and institutional investors fiercely chase semiconductor cycles and software revenue multiples, the physical reality of hyperscale computing is triggering a structural shift in energy markets.
Chevron Corporation (CVX) Presents at J.P. Morgan Natural Resources Conference 2026 Transcript
Our Chevron (NYSE:CVX | CVX Price Prediction) call is measured.
Chevron Corporation CVX and BP p.l.c. BP are among the most influential players in the global energy industry, and their rivalry is especially evident in the Gulf of America — one of the world's most productive offshore oil regions.
CVX and Microsoft team up on a 20-year Texas power deal, supporting AI-driven data center growth with reliable natural gas energy.
The agreement puts the oil giant on track to produce steady cash flows for years, insulating it from the boom-and-bust nature of oil and gas.
Chevron Corporation CVX and BP p.l.c. BP are among the most influential players in the global energy industry, and their rivalry is especially evident in the Gulf of America — one of the world's most productive offshore oil regions.
Shares of Chevron Corporation traded lower after the oil major announced a long-term agreement with Microsoft Corporation to supply electricity to a massive artificial intelligence data center in West Texas. Under the agreement, Chevron's unit, Energy Forge One LLC, will build a 2.67-gigawatt natural gas power plant under Project Kilby, a development expected to deliver electricity directly to a Microsoft-operated data center under a 20-year contract.