NextEra Plans to Buy Dominion Energy for $66.8 Billion

U.S. power companies NextEra Energy and Dominion Energy announced a plan to merge on Monday in a $66.8 billion deal that will form one of the world's largest electric utilities during an expansion of energy-intensive data centers to support artificial intelligence (AI).

The all-stock transaction, which is pending regulatory approvals, is one of the largest-ever energy mergers. It will create the third-biggest U.S. energy company behind oil majors Exxon and Chevron, and a company with an enterprise value topping the next two U.S. largest power companies combined.

The purchase of Dominion by NextEra, which is already one of the world's largest energy developers, is the latest in a wave of consolidations of U.S. power companies as the build-out of ​server warehouses across the country opens up lucrative new revenue streams.

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