GE Vernova Inc., NRG Energy Inc. and Kiewit Corp. agreed to develop up to 5.4 gigawatts of gas-fired power plants, with one NRG executive saying that artificial intelligence is driving an electricity “demand supercycle.

NRG Energy, GE Vernova and Kiewit’s subsidiary The Industrial Company (TIC) have announced a new venture to accelerate electricity generation capacity to support demand growth in the US, addressing the rising need for computing power and GenAI.

Initially the JV will work to bring online four projects with a combined capacity of 5 GW, to be supplied to the ERCOT and PJM markets.

NRG Energy is joining with GE Vernova and Kiewit Corp. in a plan to build four new natural gas-fired power plants. The companies on Feb. 26 said the

Wednesday it’ll team up with GE Vernova Inc. and engineering company Kiewit Corp. to build four natural-gas electricity plants to meet increased power needs for data centers and artificial intelligence.

GE Vernova stock jumped Wednesday after the power technology company announced it was joining forces with another energy provider and a builder to meet the growing demand for electricity from power-hungry AI data centers.

GE Vernova (NYSE:GEV) +6.4% in Wednesday's trading after saying it will team with NRG Energy (NYSE:NRG) and a subsidiary of Kiewit Corp. in a new joint venture to build four natural gas combined cycle electricity plants to meet growing demand for power from data centers and artificial intelligence.