Despite the market scare about data centers and AI offered up by Deepseek this week, U.S. based energy companies don't seem phased. 

The latest example? Chevron, Engine No. 1, and GE Vernova are teaming up to build natural gas power plants in the U.S., co-located with data centers to meet growing electricity demands driven by AI development, according to Yahoo Finance.

Chris James, founder and chief investment officer of investment firm Engine No. 1 commented: “Energy is the key to America’s AI dominance. By using abundant domestic natural gas to generate electricity directly connected to data centers, we can secure AI leadership, drive productivity gains across our economy and restore America’s standing as an industrial superpower."

He continued: "This partnership with Chevron and GE Vernova addresses the biggest energy challenge we face.”

The project aims for a multi-gigawatt scale.

Yahoo Finance wrote that separately, Chevron, Engine No. 1, and GE Vernova unveiled plans for "power foundries," natural gas-based projects delivering up to 4 GW to co-located data centers across the U.S., avoiding strain on the existing grid. Completion is expected by 2027, with future expansions planned.

Chinese startup DeepSeek’s new AI chatbot has intensified the U.S.-China AI rivalry, drawing comparisons to OpenAI’s ChatGPT. Its launch caused tech and energy stocks to fall, with analysts speculating whether DeepSeek offers comparable performance at a lower cost.

In response, President Trump signed an executive order removing barriers to U.S. AI innovation and announced a $500 billion infrastructure investment plan by OpenAI, Oracle, and SoftBank under a new venture, Stargate. With an initial $100 billion investment, Stargate aims to build data centers and power facilities, starting in Texas.