Chevron inks 2.7‑GW gas power deal with Microsoft for West Texas AI data center

Chevron announced a 20‑year contract to supply natural‑gas‑fired turbines totalling 2.7 GW to power Microsoft’s new artificial‑intelligence data center in West Texas, bypassing local utilities. Chevron’s president of new energies, Jeff Gustavson, said, "If we can get to a returns equation that works for our company and our shareholders, you can expect to hear more from us going forward," adding that the project is a "platform for growth."

Separate analysis by Constellation Energy notes that the utility holds the largest deliverable carbon‑free inventory in the U.S., controlling over half of the merchant nuclear pool. The firm points to a sizable gap between uncontracted nuclear capacity—about 147 TWh—and the growing electricity needs of data‑center operators, which could add up to $1.5‑$4 per share to earnings over five years.