Chevron Just Secured a Major 20-Year Contract to Supply Power for Microsoft’s $7 Billion Data Center in Texas. What That Means for CVX Stock.

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Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTEbube JonesTue, June 23, 2026 at 9:05 PM GMT+2 5 min readArtificial intelligence is quietly turning data centers into some of the world's biggest power users. Over the past year, these facilities used roughly 448 trillion watt‑hours of electricity, putting their energy needs in the same league as major economies. That level of demand is not a one‑off event. Data centers are expected to need about 935 trillion watt‑hours by 2030, close to 3% of global electricity use. Put differently, if data centers were counted as a single country, their power demand would rank around sixth worldwide.More News from BarchartThe Big Tech Investment Cycle is Shifting, and Chevron Just Wrote the Blueprint for the AI Power Trade.