Chevron, Exxon And Shell Shift Focus To Powering AI Growth

The U.S. energy sector posted a strong 2025 opening, outperforming other sectors as crude prices soared and the Market anticipated a deregulatory shift under Donald Trump’s government.

Major oil companies Exxon Mobil Corp (NYSE:XOM), Chevron Corp (NYSE:CVX), and Shell Plc (NYSE:SHEL), once the asset-light hypergrowth Big Tech antithesis are now targeting Big Tech to drive value.

Chevron, GE Vernova (NYSE:GEV) and Engine No. 1 launched a joint venture to power artificial intelligence data centers by 2027. Exxon will focus on providing low-carbon power through its carbon capture business.

Also Read: Amazon Cuts More Jobs in Cost-Saving Push: Report

Shell wants to use its solar energy and battery storage arm and its natural gas plant in Rhode Island.

The Big Oil trio’s fourth-quarter earnings grappled with fossil fuel supply outstripping demand, which took a toll on their margins, prompting them to ...

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