BUZZ-Chevron climbs on Microsoft deal to power Texas data center project

Microsoft Corporation
Chevron Corporation

Microsoft Corporation

MSFT

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Chevron Corporation

CVX

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** Shares of oil major Chevron CVX.N up 1.4% at $176.3 premarket

** CVX signs 20-year power agreement with Microsoft MSFT.O for West Texas data center

** Co says the power plant, called Project Kilby, is expected to provide first power by 2028 and will ramp up to 2.67 gigawatts over time

** Co says Kilby expects to generate ~$10 bln in state and local tax revenue, support nearly 2,000 jobs

** Co expects final investment decision for Project Kilby by end-2026

** As of last close, stock up 13.9% YTD


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