NextEra Energy to buy Dominion in deal that unites two key players in race to power AI data centers

https://www.cnbc.com/2026/05/18/nextera-nee-dominion-energy-d-data-center-ai.html > NextEra Energy will buy Dominion Energy in an all-stock deal valued at nearly $67 billion, uniting two leading players in the race to meet growing electricity demand from data centers that run artificial intelligence. Dominion is the utility responsible for powering the world’s largest data center market in northern Virginia. It has a market cap of more than $50 billion. NextEra is the biggest renewable energy developer in the U.S. with a portfolio of natural gas and nuclear generation as well. The Florida-headquartered power company is also the largest utility in the S&P 500 at a market cap of more than $190 billion. > The deal will create the largest regulated electric utility in the world, the companies said Monday. It will have a market cap of $249 billion and an enterprise value of $420 billion, making it the third-largest company in the energy sector behind oil majors Exxon Mobil and Chevron. “Electricity demand is rising faster than it has in decades,” NextEra CEO John Ketchum said in a statement. “We are bringing NextEra Energy and Dominion Energy together because scale matters more than ever.” > NextEra shareholders will own 74.5% of the company while Dominion investors will own 25.5%. They will operate under NextEra’s name and trade under its ticker symbol on the New York Stock Exchange. Ketchum told investors Monday that the company can become the “go-to partner for large load customers,” referring to the tech companies building huge data center projects. NextEra plans to construct more than 30 data center hubs across the U.S. to help meet the demand from AI.