NextEra Energy, one of the largest power companies in the United States, is in advanced talks to acquire Dominion Energy, in a deal that could transform the power industry as it races to supply electricity needed to fuel the booming growth of artificial intelligence, two people familiar with the matter said Sunday.
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.
Florida-based NextEra, which has market value of about $194 billion, is discussing a deal that would exchange about eight-tenths of a share of its stock for each outstanding share of Dominion, the people said. NextEra shareholders would ultimately own about 75 percent of the combined company, and get an additional small portion in cash, they added.
The people, who requested anonymity because the talks are confidential, said the deal could still change or fall apart. The Financial Times earlier reported deal talks, and Bloomberg reported the potential deal terms.
Neither NextEra nor Dominion, based in Richmond, Va., responded to requests for comment.
