Chevron CEO Talks First AI Data Center Power Project

Chevron CEO Mike Wirth joins Bloomberg Markets: The Close to discuss the oil giant's plan to begin its first project providing natural gas-fired power to a data center at a site in West Texas. Its the beginning of a new line of business for Chevron to capitalize on the boom in artificial intelligence. The company is in exclusive talks with the data center’s end user, which it didn’t name, and anticipates making a final investment decision early next year, according to a statement and presentation released ahead of Chevron’s investor day on Wednesday. The facility is expected to be operational in 2027, and will have capacity to generate as much as 5,000 megawatts in the future. Wirth speaks with Romaine Bostick and Katie Greifeld about the data center project, his outlook for oil prices in 2026, and more.

See omnystudio.com/listener for privacy information.