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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
With data center electricity demand soaring, major oil companies are moving to diversify revenue streams. Chevron (CVX) said it is exploring additional deals to power U.S. data centers, according to media reports. The move comes as AI and cloud computing drive rapid growth in the data center sector, creating new opportunities for traditional energy firms.
Chevron joins rivals also seeking to tap rising power demand. Exxon Mobil (XOM) closed at $172.24 on June 26, 2026, while Shell (SHEL) ended at $77.33 and BP at $37.72 on June 25. Analysts suggest that long-term supply agreements with data centers could support energy stocks' valuations, though financial details remain unclear.
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Sign InChevron shares closed at $172.24 on June 25, 2026, recovering from an intraday low of $169.27. As the company pursues new opportunities in data center power supply, the stock may attract further investor interest. No near-term catalysts are imminent, but any concrete deal announcement could drive upside.