From MW

Today, Chevron announced a joint development with Engine No. 1 and GE Vernova to help meet the demand for scalable, reliable power solutions to enable advancements in Artificial Intelligence.

The partnership will work directly with customers to develop power generation that is dedicated to and co-located with data centers. The power generators will leverage Chevron’s natural gas capabilities and utilize turbines manufactured by GE Vernova.

Artificial Intelligence is one of the most important technological breakthroughs in recent history, igniting productivity gains across our global economy.

The data centers needed to scale AI require massive amounts of 24/7 power.
Meeting this demand is forecasted to require significant investment in power generation capacity, while managing carbon emissions and mitigating the risk of grid destabilization.

Our plans call for delivering up to four gigawatts of power – the equivalent of electrifying 3 to 3.5 million American homes. Rather than going through the existing power distribution grid, the projects will be co-located with data centers, reducing the risk of increasing electricity costs for consumers. We believe these projects are poised to quickly meet customer demand while delivering competitive returns.

The projects, which will be managed by our Chevron New Energies organization, will also be designed with flexibility to integrate lower carbon solutions, such as carbon capture and storage and renewable energy sources.

This is an exciting partnership for our company and an important solution in advancing AI technology.

For more, please see the press release on Chevron’s newsroom: https://lnkd.in/geg3DHMu
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Sooooo is this going to change anything related to layoffs yall think?

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My favorite part of the day was MW talking AI on CNBC. He’s an expert now.

I am waiting for AI to find oil for Chevron. Maybe we should hire Chinese Engineers.

Economy been good coming out of the pandemic, Chevron stock been underperforming with market and especially compared with industry peers. MW is desperate to find any catalyst that will boost share value. CVX stock is dead money for next few years.

@bj+1jjpvrg72 Not sure if you’re being funny or your comment is just bS.

Market has not responded favorably.

greenwashing while lowering our overall costs. power grid is expensive unless you own a piece.

New energies is really reinventing energy with this one

This makes me want to wretch - two faced perspective (American jobs) and kissing a want to be dictator's back aide.
"We are proud to play our part in bringing to fruition President Trump’s vision for a new American golden age, powered by our enormous energy resources and unrivaled workforce. President Trump’s pro-American energy policies and commitment to energy and AI dominance give us the confidence to invest in projects that will create American jobs and strengthen our national security.”

Just trying to get ahead of the Chinese AI announcement that basically makes this type of operation all but obsolete. American AI got hit hard in the last few days and I imagine they are trying to mask this venture in the noise.

So we are supplying the fuel gas....

@a7+1jjpvrg72

MW has had a lot of loads dumped into him from Wallstreet and Jim Cramer

How will trump feel that the engineering of his pet project will be done out of India! Jaja

Another empty announcement that will devore money and give back nothing in return. Chevron New Business Ventures (or whatever its new trendy name is) has been delivering these cash sinks for decades now.

FO MW

So on brand for Chevron to go all in on market FOMO at peak exuberance. See: deepseek

Engine no1 looks like an ESG investment firm. I don’t think they will operate the power plant.
https://en.m.wikipedia.org/wiki/Engine_No._1

Has MW basically dumped the core business?

No, this will not impact the layoffs. The layoffs have been planned and will take place as scheduled. This partnership is to supply natural gas to a company named, Engine No. 1, not the Chevron ENGINE. Engine No. 1 operates the electrical generation plants using generator equipment manufactured by GE Vernova. This partnership is to supply electricity to the Data Center power grid specifically at the new computer centers across the USA in support of AI and Crypto mining for the US Banking system. This is not to supply additional electrical power for end consumers. The consumer power grid is too unstable to support the computer centers of the future.

Isn’t that just engine?

More greenwashing. Look up what Engine No. 1 is: It’s an activist investment firm that held Exxon’s board hostage after buying 0.02% of the shares and then influencing Blackrock and Vanguard in an open letter to pressure Exxon to focus on ROCE. Engine 1 is why ROCE became a buzzword in 2020.

Chevron is appeasing Engine No. 1 so they don’t take over our board. Engine No. 1 installed three directors on Exxon’s board in 2021.

Engine no. 1 has nothing to do with Chevron’s India Engine endeavor.

Thread regarding Chevron Corp. layoffs

From MW

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