The rise of AI is reshaping energy markets, with Exxon Mobil announcing plans to build a natural gas power plant dedicated to powering data centers, reflecting tech companies' growing electricity demands. Expected to generate over 1.5 gigawatts and capture over 90% of its carbon emissions, the facility will operate independently from the grid, avoiding interconnection delays. Exxon aims to complete the project within five years, outpacing nuclear power options but facing competition from rapidly deployable and cost-effective renewable energy investments. Rivals like Google and Microsoft are advancing significant renewable portfolios, with Google’s $20 billion initiative set to contribute grid power by 2026 and Microsoft’s solar projects coming online within months. Exxon’s venture highlights the escalating energy race driven by AI demands, as fossil fuels and renewables compete to meet future needs. Continue here.
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