Chevron Just Jumped Ahead of ExxonMobil in Capturing This Massive Opportunity

As technology companies build larger and more powerful data centers, utilities and energy producers are scrambling to find ways to supply the enormous amounts of power these facilities require.

That's where oil and gas giants Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) see a new opportunity. Both companies are pursuing natural gas-fired power plants designed specifically to support artificial intelligence (AI) data centers.

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But for now, Chevron appears to have taken the lead. Here's why.

Earlier this month, Chevron announced a partnership with Microsoft and power developer Engine No. 1 to develop natural gas-powered generation projects that could eventually supply up to 4 gigawatts of electricity to U.S. data centers. To put that in perspective, 4 gigawatts is enough to supply electricity to roughly 3 million average U.S. homes, depending on consumption and plant utilization.

The agreement marked Chevron's

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/chevron-just-jumped-ahead-exxonmobil-155700206.html)