Powering the AI Revolution: How Chevron Plans to Profit From Surging Electricity Demand
Energy usage at data centers is already immense, and it will be even higher in the future because AI requires a tremendous amount of computing power. That's fueling the need for more electricity in the country to power AI data centers.Chevron (NYSE: CVX) sees the country's growing power needs as a huge opportunity. It's planning to profit from the power surge by building gas-fired power plants to support AI data centers. That will enable the energy giant to maximize the value of more of the natural gas it produces.AI is a power-hungry technology, and a single query using an AI chatbot like ChatGPT can require 10 times the energy of a simple search using Alphabet's Google. On average, AI data centers require 50 times more power per square foot than a typical office building. Continue reading
Energy usage at data centers is already immense, and it will be even higher in the future because AI requires a tremendous amount of computing power. That's fueling the need for more electricity in the country to power AI data centers.
Chevron (NYSE: CVX) sees the country's growing power needs as a huge opportunity. It's planning to profit from the power surge by building gas-fired power plants to support AI data centers. That will enable the energy giant to maximize the value of more of the natural gas it produces.
AI is a power-hungry technology, and a single query using an AI chatbot like ChatGPT can require 10 times the energy of a simple search using Alphabet's Google. On average, AI data centers require 50 times more power per square foot than a typical office building.
