The artificial intelligence boom has turbocharged demand for electricity, and everyone who is anyone in the U.S. energy industry wants a piece of the action.

The latest entrant is Chevron, the country’s second-largest oil and gas company, which sees opportunity in building natural gas-fueled power plants that will feed energy directly to data centers.

Chevron is working with Engine No. 1, a San Francisco-based investment firm best known for waging a successful proxy battle against Exxon Mobil in 2021. The companies say they have ordered critical equipment, scouted potential sites and can have their first plant online within three years.

“It’s a chance for us to help meet the moment and address this growing need for reliable and affordable power,” Mike Wirth, Chevron’s chief executive, said in an interview.

Read more in the New York Times here.

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