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Chevron, GE Vernova and investment firm Engine No. 1 say they are forming a joint venture to power artificial intelligence data centers with natural gas-fueled electricity, The Wall Street Journal reports.
The joint venture of Chevron with turbine maker GE Vernova and Engine No. 1 aims to deliver 4 gigawatts of electricity—enough to power up to 3.5 million homes—for data centers starting by the end of 2027.
The rapid development of AI requires huge amounts of energy-hungry computing power. Over the past year, the developments have helped renew investor interest in power generators and nuclear power.
The companies’ announcement, however, comes a day after shares of a raft of power companies—including GE Vernova—plunged in the wake of Chinese company DeepSeek releasing an AI model that appears to perform on par with peers such as ChatGPT, while using less computing power and energy.
The companies say the new company’s first projects, which they dubbed power foundries, would use GE Vernova turbines to power co-located data centers in the Southeast, Midwest and western U.S.
