Chevron is in exclusive negotiations with Microsoft and Engine No. 1 for a $7 billion gas-to-power project in West Texas.
The plan involves constructing a 2,500-megawatt power plant to supply electricity directly to AI data centers.
This initiative secures high-margin power contracts by linking Chevron’s natural gas business to the growth of cloud computing.
For VDE investors, the move creates stable demand for core products while positioning the company to benefit from the AI revolution.