Chevron, GE Vernova Partner to Power AI Data Centers With Natural Gas
Written by Emily J. Thompson, Senior Investment Analyst
Source: investopedia.com
Partnership Announcement: Chevron and GE Vernova have teamed up with Engine No. 1 to construct natural-gas power stations aimed at supporting AI data centers in the U.S., utilizing seven turbines to provide up to 4 gigawatts of power by the end of 2027.
Market Impact: The announcement has led to significant drops in shares of nuclear power providers, with Constellation Energy and Vistra seeing declines over 20%, while GE Vernova's stock also fell sharply before recovering slightly the following day.
Analyst Views on CVX
Wall Street analysts forecast CVX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CVX is 177.50 USD with a low forecast of 158.00 USD and a high forecast of 204.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
13 Buy
3 Hold
0 Sell
Strong Buy
Current: 166.160
Low
158.00
Averages
177.50
High
204.00
Current: 166.160
Low
158.00
Averages
177.50
High
204.00
About CVX
Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
