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

Microsoft, Chevron and investment fund Engine No. 1 have entered into an exclusivity agreement for power generation and supply, the three companies said on Tuesday.

Technology companies, including Microsoft, are rushing to secure electricity supply for their rapidly ‌expanding data ⁠centres that ⁠would power generative artificial intelligence services such as ChatGPT and Copilot.

“No commercial terms have been finalized, and there is no definitive agreement at this time,” the three companies said in a statement.