Does Chevron's Joint Venture With GE Vernova Make the Stock a Buy Ahead of 2027?

Chevron has partnered with GE Vernova to develop 4 gigawatt-hours of behind-the-meter natural gas power for AI data centers through 'power foundries' across the U.S. Chevron will leverage its Permian Basin natural gas production to fuel GE Vernova's gas turbines, with deliveries expected to begin in late 2027 or early 2028. While the partnership addresses surging data center energy demands, environmental concerns persist despite plans to integrate carbon capture technology.