People cross the corridors of the Equinix Data Center in Ashburn, Virginia, May 9, 2024.
Amanda Andrade-Rhoades | The Washington Post | Getty images
The demand of the data center does not slow down in the world's largest market focused on northern Virginia, managers of Dominant energy said Thursday.
Domination provides electricity in County of LoudounNicknamed “Data Center Alley” because it hosts the largest group of data centers in the world. The public service works in close collaboration with large technological companies that invest dozens of billions of dollars in data centers when they form artificial intelligence models.
“We have not observed any proof of slowdown in customer demand from the data center in our service area,” said Steven Ridge, Dominion financial director, to analysts on calling the company's first quarter.
Wall Street has hypothesized that the technological sector could withdraw investments in data centers while President Donald Trump's prices make it more difficult to get parts and increase the risk of recession. The emergence of the China's deep AI laboratory has sparked a sale of electricity stocks earlier this year while investors feared that its model was more economical in energy.
Dominion has 40 capacity gigawatts of the data center at various stages of contract, said Ridge. Customers in the data center have not interrupted spending on new projects in the Dominion service area and they have shown no concerns about economic uncertainty, said Dominion CEO Robert Blue.
“We see the continuous appetite for an additional data center capacity on our service territory,” said Blue. “They want to go fast, they always want to go fast. It is their business, it has always been their business. We have been effective in serving them so far. I see no reason why it will change in the future,” he said.
Executives with Amazon And Nvidia said last week at an energy conference in Oklahoma City that the request from the data center does not slow down. Dominion shares increased by around 1% in the exchanges on Thursday while the public service maintained its annual operation profits From $ 3.28 to $ 3.52 per share.
