Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

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
Tesla denies report it’s looking to replace Elon Musk
next post
Top 5 Canadian Mining Stocks This Week: Lion Rock Jumps 60 Percent

Related Posts

Thousands of schools are turning to apps to...

November 8, 2023

Meta announces end of its DEI programs. Read...

January 11, 2025

Southwest Airlines and pilots’ union reach preliminary labor...

December 21, 2023

Weekly mortgage demand drops to three-month low as...

May 30, 2024

Student loan repayment issues frustrate borrowers, prompting federal...

January 6, 2024

Collapsed crypto exchange Mt. Gox is about to...

July 3, 2024

Reddit co-founder Alexis Ohanian takes minority stake in...

May 16, 2025

Netflix ad-supported tier has 40 million monthly users,...

May 17, 2024

Dick’s Sporting Goods stands by full-year guidance —...

May 29, 2025

Another delivery driver dies as a battle rages...

September 2, 2023

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


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

    Popular

    • 1

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 4

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 5

      Top 9 Nickel-producing Countries (Updated 2024)

      April 23, 2024
    • 6

      Australian abolitionist, Grace Forrest, receives coveted ‘Freedom from Fear’ award

      April 13, 2024
    • 7

      LME Sanctions on Russian Metal Push Copper, Nickel and Aluminum Prices Higher

      April 17, 2024

    Categories

    • Business (1,028)
    • Investing (2,046)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,347)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.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 thriftybanker.com | All Rights Reserved