The emergence of DeepSeek is casting doubt on the power needs of AI—and on the stocks of independent power producers.

Shares of U.S. power, utility and natural gas companies sold off on Monday in some of the biggest recorded one-day drops, as new AI technology from Chinese start-up DeepSeek cast doubt on a projected surge in U.

Early Monday trading saw sharp declines across the US stock market, triggered by the unexpected rise of a Chinese AI app, DeepSeek. Over the weekend, DeepSeek soared to the top of Apple’s app chart, sending shockwaves through industries tied to artificial intelligence.

Oil company Chevron is partnering with Engine No. 1 and GE Vernova to create natural gas power plants in the United States that will be linked to data centers in order to support increased demand for electricity at these centers,

Oil and gas producer Chevron said on Tuesday it plans to build natural gas-based power plants next to data centers in the U.S., as energy demand to support the growth of artificial intelligence is expected to boom.

Key Takeaways Chevron and GE Vernova have partnered to build natural-gas power stations for U.S. data centers.The joint venture, which also includes investment firm Engine No. 1, plans to deliver up to 4 gigawatts of power,