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National Grid Invests $1.75 Billion in US AI Power Company

On July 1, National Grid Plc, a power network company listed in London, has a substantial electricity and gas business in the northeastern United States. To seize opportunities arising from the booming data center industry in the US, the company is taking significant steps by acquiring a stake in a firm developing power generation facilities for Microsoft (MSFT.US). This utility company will invest $1.75 billion to acquire a 35% stake in Joulent LLC. Joulent LLC is collaborating with oil giant Chevron (CVX.US) to develop a natural gas power plant for Microsoft in Texas. Energy companies are widely seeking investment opportunities in the artificial intelligence sector 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 US to one of the hottest electricity markets in the country.

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