Microsoft, Chevron, and Engine No.1 sign exclusive power supply agreement.

Microsoft, Chevron, and investment fund Engine No. 1 announced on Tuesday that they have reached an exclusive agreement on power generation and supply. Technology companies, including Microsoft, are eager to ensure power supply for their rapidly expanding data centers, which will power AI services such as ChatGPT and Copilot. The three companies stated in a declaration: "No commercial terms have been finalized at present, nor is there a final agreement." Media reports have indicated that the agreement with Microsoft is related to a long-term agreement with a proposed natural gas power plant in western Texas, with an estimated cost of around $7 billion. The power plant will initially generate 2,500 megawatts to power a large data center campus.