Summary

NextEra Energy’s massive $67 billion deal to acquire Virginia-based Dominion, announced on May 18, will effectively build the world’s largest utility in a bid to dominate the AI data center boom. It’s a goal big enough that NextEra was willing to pay a hefty premium—and risk overpaying—to make it happen. On a call with analysts, NextEra chairman and CEO John Ketchum said the acquisition was necessary to create a player big enough to satisfy enormous and fast-growing demand for electricity.

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