Usa Stocks Insider
  • Business
  • World
  • Investing
  • Stocks

Usa Stocks Insider

  • Business
  • World
  • Investing
  • Stocks
Business

Data center boom in world’s largest market isn’t slowing down, Dominion Energy says

by admin May 3, 2025
May 3, 2025
Data center boom in world’s largest market isn’t slowing down, Dominion Energy says

Data center demand is not slowing down in the world’s largest market centered in northern Virginia, executives at Dominion Energy said Thursday.

Dominion provides electricity in Loudoun County, nicknamed “Data Center Alley” because it hosts the largest cluster of data centers in the world. The utility works closely with the Big Tech companies that are investing tens of billions of dollars in data centers as they train artificial intelligence models.

“We have not observed any evidence of slowing demand from data center customers across our service area,” Dominion’s chief financial officer, Steven Ridge, told analysts on the company’s first-quarter earnings call.

Wall Street has speculated that the tech sector might pull back investment in data centers as President Donald Trump’s tariffs make it more difficult to source parts and raise the risk of a recession. The emergence of China’s DeepSeek AI lab sparked a sell-off of power stocks earlier this year as investors worried that its model is more energy efficient.

Dominion has 40 gigawatts of data center capacity in various stages of contracting, Ridge said. Data center customers have not paused spending on new projects in Dominion’s service area and they have not shown any concerns about economic uncertainty, Dominion CEO Robert Blue said.

“We’re seeing continued appetite for additional data center capacity in our service territory,” Blue said. “They want to go fast, they always want to go fast. That’s their business, that’s always been their business. We’ve been effective at serving them thus far. I don’t see any reason why that’s going to change in the future,” he said.

Executives with Amazon and Nvidia said last week at an energy conference in Oklahoma City that data center demand is not slowing. Dominion shares rose about 1% in Thursday trading as the utility maintained its full-year operating earnings guidance of $3.28 to $3.52 per share.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Netanyahu calls defeating Israel’s enemies the ‘supreme objective,’ not freeing hostages
next post
Pfizer CEO says tariff uncertainty is deterring further U.S. investment in manufacturing, R&D

You may also like

On air, ’60 Minutes’ reporter says ‘none of...

April 29, 2025

Fintech company Chime files for Nasdaq IPO

May 14, 2025

A man once sued by the SEC wins...

May 22, 2025

McDonald’s announces plan to hire 375,000 employees this...

May 14, 2025

American liquor exports hit record high in 2024,...

April 25, 2025

Pfizer CEO says tariff uncertainty is deterring further...

May 3, 2025

Walgreens doubles down on prescription-filling robots to cut...

May 13, 2025

Pfizer CEO says tariff uncertainty is deterring further...

May 1, 2025

Skechers to be acquired by 3G Capital in...

May 6, 2025

Amazon and Nvidia say AI data center demand...

April 25, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Legendary Brazilian photographer Sebastião Salgado dead at 81

      May 24, 2025
    • At least 12 injured in hot air balloon crash in Mexico

      May 24, 2025
    • Several people sustain ‘life-threatening’ injuries in knife attack at Hamburg’s Central Station, police say

      May 24, 2025
    • ‘What was that bang?’ Footage captures sound of Titan sub’s implosion

      May 24, 2025
    • We’re ‘poker chips’: International Harvard students describe fear after Trump administration moves to revoke their enrollment

      May 24, 2025

    Categories

    • Business (70)
    • Investing (245)
    • Stocks (113)
    • World (290)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: usastocksinsider.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 usastocksinsider.com | All Rights Reserved