Search results for Chevron
Industry
Microsoft, Chevron sign 20-year power supply deal to run AI data centres on natural gas
Microsoft and Chevron plan to build a 2.67 gigawatt natural gas power plant in west Texas and use it to supply electricity to Microsoft AI and cloud data centres. The companies have signed a 20-year power purchase agreement for dedicated supply. Most capacity will come from two GE Vernova turbines, with the remainder from Caterpillar unit Solar Turbines. The project has drawn attention to potential emissions and climate-strategy tensions.
Finance
Berkshire sells entire stakes in Visa, Mastercard; not due to performance
Berkshire Hathaway has sold its entire stakes in Visa and Mastercard, prompting market focus on whether the move signals a broader portfolio reshuffle. A quarterly report showed Berkshire also fully exited some holdings such as Amazon. The sales are being read as the first major rebalancing under Greg Abel, who is effectively leading portfolio management, and may reflect a move away from positions linked to Todd Combs. Visa’s recent business indicators were described as solid.
AI & Enterprise
US big tech turns back to gas power to run AI data centres
U.S. big tech companies are moving to build natural gas power plants to secure electricity for AI data centres, heightening tension across the energy market. TechCrunch reported Microsoft, Google and Meta have entered competition for fuel and equipment, with potential spillover into power prices and industry. The rush is also creating bottlenecks such as scarce gas turbines and higher costs. Analysts warn demand could shift strain to gas supply networks and sharpen conflicts over energy allocation.
