"The demand for power and for AI is like nothing I've ever seen in terms of demand growth,"
"We also know that, not only in the U.S., but around the world [AI] is a really big opportunity set for the same level of growth."
"It's very real, it's early, and it's to be determined which sort of approaches and types of contract —"
Oil prices are at pandemic-era lows, squeezing revenues and profits across the sector while U.S. oil production remains historically high. Fracking companies and oilfield service providers are pivoting to supply power for data centers, using on-site natural gas generator sets and gas-fired turbines to serve AI workloads. Firms including Liberty Energy, Halliburton, Baker Hughes, SLB, and Solaris Energy Infrastructure are expanding capacity, taking equity positions, or forming partnerships to capture the surge in power demand. Stock prices for some of these companies rose after announcements of expanded data-center power plans. Analysts call the opportunity an emerging bright spot amid longer-term declines in frac fleet activity and drilling intensity.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]