Dominion Stock Jumps on $67 Billion NextEra Deal

Technology giants are vigorously building data centers to provide the computing power for A.I. Peak electricity demand in coming summers and winters is expected to jump more than 20 percent nationwide through 2035, due in part to data centers.

U.S. power giants NextEra Energy and Dominion Energy announced plans Monday to merge in the largest electricity deal — by far — since the mainstreaming of AI.

The deal, one of the largest ‌in the U.S. power industry, adds to a wave of consolidation as the rapid data-center buildout lifts power demand for the first time in two decades, opening up a lucrative revenue stream and boosting profit prospects.

The Florida-headquartered power company is also the largest utility in the S&P 500 at a market cap of more than $190 billion.