Chevron and GE Vernova are trying their hand at supplying power to data centers, just as China's DeepSeek may upend that play.
Chevron (CVX) and GE Vernova (GEV) have partnered with investment firm Engine No. 1 to build natural-gas power stations for artificial intelligence (AI)-developing data centers in the U.S.
Chevron chairman and CEO Mike Wirth and GE Vernova CEO Scott Strazik join ‘Squawk on the Street' to discuss the new partnership alongside Engine No. 1 to power AI data centers and address the rising data center and hyperscaler energy demand needs, oil and energy production outlook under the new Trump administration, and more.
Energy company Chevron is partnering with Engine No. 1 and GE Vernova to create natural gas power plants in the United States that will be linked to data centers in order to support increased demand for electricity at these centers, particularly for the development of artificial intelligence.
Chevron chairman and CEO Mike Wirth and GE Vernova CEO Scott Strazik join 'Squawk on the Street' to discuss the new partnership alongside Engine No. 1 to power AI data centers and address the rising data center and hyperscaler energy demand needs, oil and energy production outlook under the new Trump administration, and more.
Energy major Chevron said on Tuesday it has signed an agreement with investment firm Engine No. 1 and GE Vernova to build natural gas-based power plants to run co-located data centers in the U.S.
Chevron and GE Vernova will team up with activist firm Engine No. 1 to provide natural gas solutions.
As CVX gears up to report fourth-quarter earnings on Jan. 31, let's find out how the expectations stack up. Also, know how to play the stock ahead of results.
The oil company plans to build natural gas power plants that will be directly connected to data centers used by technology companies for artificial intelligence and other services.
Chevron is set to announce Q4 earnings on January 31st, with expectations of declining EPS due to falling energy prices. I believe these expectations are too negative, with an unrealistic decline in profitability. I believe CVX will deliver an earnings beat for Q4. My expected earnings range is $2.15-$2.25/share, vs, the Wall Street estimate of $2.06/share.
CVX starts oil production at the Tengiz Future Growth Project, boosting daily output by 260,000 barrels and enhancing its position in the global energy market.
Oil is a volatile commodity, a fact that needs to be taken into consideration when buying an oil-related stock. However, there are different ways to view this fact from an investment perspective.