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Chevron announced it will supply natural gas to power a Microsoft data center in West Texas, using gas turbines from GE Vernova and Caterpillar. The project, called Project Kilby, is expected to produce 2.7 gigawatts of electricity. GE Vernova stock rose near a buy point, and Caterpillar stock jumped.
Why it matters
Large AI data centers require enormous amounts of power, and traditional energy companies like Chevron are now positioned as essential infrastructure partners. This deal shows oil and gas firms are betting on long-term AI demand and diversifying their business models beyond traditional fuel sales.
What to watch
Project Kilby's 2.7 gigawatts of capacity — the scale of power Microsoft needs to run its AI operations — underscores how infrastructure-intensive modern AI has become and why equipment makers supplying turbines and energy producers are seeing stock gains.
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