National Grid UK invests $1.75 billion in US AI Power Company.

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Golden Finance reported that on July 1st, National Grid Plc, a London-listed power network company, has a large electricity and natural gas business in the northeastern United States. To seize the opportunities brought by the booming data center industry in the U.S., the company is taking a major step by investing in a company that develops power generation facilities for Microsoft (MSFT.US). The utility company will invest $1.75 billion to acquire a 35% stake in Joulent LLC. Joulent LLC is partnering with oil giant Chevron (CVX.US) to develop a natural gas power plant in Texas for Microsoft. Energy companies are broadly seeking investment opportunities in the artificial intelligence field through data center power projects. This deal values the private company Joulent at $5 billion and will expand National Grid's business footprint from the northeastern U.S. to one of the hottest power markets in the country.
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