Chevron is launching its entry into AI power production with a major project in West Texas.
The company plans to utilize its vast Permian Basin natural gas reserves to fuel the growing demand created by the artificial intelligence boom. As part of its five-year strategy, Chevron aims to achieve first power at the data center by 2027, per its recent investor report.
The initial project will feature 2.5 gigawatts of gas-fired generation, with the capacity to expand to 5 gigawatts.
"Our disciplined approach to investing in new energies positions us to deliver competitive returns and keep pace with the evolving market," said Jeff Gustavson, president of Chevron New Energies. "We are excited about our new power business, where we have an early-mover advantage and look forward to providing the power required to support U.S. leadership in Artificial Intelligence."
