Data center demand is not slowing down in the world\u2019s largest market centered in northern Virginia, executives at\u00a0Dominion Energy\u00a0said Thursday.<\/p>\n
Dominion provides electricity in\u00a0Loudoun County, nicknamed \u201cData Center Alley\u201d 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.<\/p>\n
\u201cWe have not observed any evidence of slowing demand from data center customers across our service area,\u201d Dominion\u2019s chief financial officer, Steven Ridge, told analysts on the company\u2019s first-quarter earnings call.<\/p>\n
Wall Street has speculated that the tech sector might pull back investment in data centers as President\u00a0Donald Trump\u2019s tariffs make it more difficult to source parts and raise the risk of a recession. The emergence of China\u2019s DeepSeek AI lab\u00a0sparked a sell-off\u00a0of power stocks earlier this year as investors worried that its model is more energy efficient.<\/p>\n
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\u2019s service area and they have not shown any concerns about economic uncertainty, Dominion CEO Robert Blue said.<\/p>\n
\u201cWe\u2019re seeing continued appetite for additional data center capacity in our service territory,\u201d Blue said. \u201cThey want to go fast, they always want to go fast. That\u2019s their business, that\u2019s always been their business. We\u2019ve been effective at serving them thus far. I don\u2019t see any reason why that\u2019s going to change in the future,\u201d he said.<\/p>\n
Executives with\u00a0Amazon\u00a0and\u00a0Nvidia\u00a0said last week at an\u00a0energy conference in Oklahoma City\u00a0that data center demand is not slowing. Dominion shares rose about 1% in Thursday trading as the utility maintained its full-year operating\u00a0earnings guidance\u00a0of $3.28 to $3.52 per share.<\/p>\n<\/p>\n
Data center demand is not slowing down in the world\u2019s largest market centered in northern Virginia, executives at\u00a0Dominion Energy\u00a0said Thursday. Dominion provides electricity in\u00a0Loudoun County, nicknamed \u201cData Center Alley\u201d 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 […]<\/p>\n","protected":false},"author":0,"featured_media":17418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17417"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17418"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}