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Wall Street faced declines as Nvidia and other tech stocks lost momentum amid concerns over the Federal Reserve's interest rate cuts. Nvidia dropped 4.4% following a proposed export framework for advanced chips, while Bitcoin fell below $91,000. In contrast, oil-and-gas companies gained as crude prices rose, with Exxon Mobil and Chevron seeing increases of 1.7% and 2.3%, respectively.
UiPath faces a downgrade from UBS amid increasing competition in the AI sector and sales challenges. As demand for energy-intensive AI data centers surges, solutions like converting crypto mining sites and utilizing nuclear power are being explored to address potential power shortages, with estimates of a 30-gigawatt shortfall by 2028. Major U.S. oil companies, including Chevron and Exxon, are also considering entering the electricity market to meet the rising energy demands of AI technologies through natural gas and carbon capture solutions.
UiPath faces a downgrade from UBS amid increasing competition in the AI sector and ongoing sales challenges. As demand for energy-intensive AI data centers surges, major U.S. oil companies like Chevron and Exxon are exploring natural gas-powered electricity solutions with carbon capture technologies to meet this growing need. Analysts warn of a potential power shortfall exceeding 30 gigawatts by 2028, highlighting the urgency for new energy infrastructure.
Top Wall Street analysts are recommending dividend-paying energy stocks, highlighting Chevron, Energy Transfer, and Enterprise Products Partners for their attractive yields and strong financial performance. Chevron reported a quarterly dividend of $1.63 per share, while Energy Transfer and Enterprise Products Partners offer yields of 6.8% and 6.4%, respectively. Analysts emphasize the companies' solid capital returns, growth potential, and effective cost management strategies, making them appealing options for investors seeking income and diversification.
Chevron Corp. is reducing its low-carbon investments by 25%, cutting spending from $2 billion this year to $1.5 billion for 2025. This decision comes as the company tightens its budget and shifts focus towards prioritizing profits over energy output, with overall spending down by 11%.
BP is seeking buyers for a stake in its U.S. natural gas pipeline network, potentially raising up to $3 billion by selling up to 49%. This move is part of CEO Murray Auchincloss's strategy to reduce the company's rising debt, which reached $24.3 billion in September. Amid investor pressure and a declining share price, BP is also looking to divest from its solar and wind operations.
Chevron plans to take up to $1.5 billion in fourth-quarter charges for restructuring, asset impairments, and property sales costs, primarily due to job cuts and relocations over the next two years. The company aims to reduce costs by up to $3 billion through 2026, with a $2 billion cut in 2025 project spending. Despite these challenges, Chevron's projected fourth-quarter profit is $4.35 billion, down from $6.45 billion a year ago.
Chevron Corp. plans to reduce its production growth in the Permian Basin next year, signaling challenges for President-elect Donald Trump's energy agenda. The company will cut capital expenditures to between $4.5 billion and $5 billion in 2025, a decrease of up to 10%. Overall, Chevron expects to spend about $17 billion globally, down from $19 billion this year, marking its first budget cut since 2021.
Chevron Corp. and Shell Plc are in discussions to invest in Argentina's major project aimed at increasing crude exports from the Vaca Muerta shale formation. The companies are negotiating equity stakes in a $3 billion initiative to construct a cross-country pipeline and an Atlantic port, led by state-run YPF SA.
Three major brands—AT&T, JPMorgan Chase, and Dunkin’ Brands—have suspended their advertising on Twitch following allegations that the platform is promoting antisemitic content. Additionally, Chevron is contemplating withdrawing support for the TwitchCon convention after its name was linked to a controversial panel discussion.
Chevron Corp
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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